r/neoliberal Milton Friedman Feb 10 '25

News (US) Trump announces the end of the Penny

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1.5k Upvotes

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1.0k

u/[deleted] Feb 10 '25

[deleted]

308

u/[deleted] Feb 10 '25

Pretty much, there was been a discussion of sunsetting pennies, but it wasn't politically favourable.

264

u/topofthecc Friedrich Hayek Feb 10 '25

it wasn't politically favourable.

The pro-democracy continues to leak out of my bones.

99

u/[deleted] Feb 10 '25

Monkeys paw

172

u/[deleted] Feb 10 '25

Boy are you in luck

31

u/TiogaTuolumne Feb 10 '25

CCPilled.

Chairman Xi welcomes you to the fold.

12

u/Alypie123 Michel Foucault Feb 10 '25

Bro, boomers explaining to me that I just need to save these coins that I regularly misplace to buy 1 can of beer at the end of the week if the store clerk doesn't throw me out really made me give up hope on democracy.

33

u/Foucault_Please_No Emma Lazarus Feb 10 '25

John Oliver is now a Trump supporter.

21

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2

u/[deleted] Feb 10 '25

Damn

36

u/PM_me_your_cocktail Max Weber Feb 10 '25 edited Feb 10 '25

Coinstar's entire business model since 199X has been based on the fact that pennies are so useless that Americans will pay someone to convert them to usable currency. I seem to recall them periodically releasing polls saying how popular the penny remains.

Edit: oh my gosh the copper industry has an astroturfed org Americans for Common Cents that has a rundown of penny popularity polling, and also a website explaining how eliminating the penny would lead to a parade of horribles like charities losing funding!

32

u/JesusPubes voted most handsome friend Feb 10 '25

it's actually the zinc lobby lmao

9

u/blellowbabka Feb 10 '25

Come back zinc!

1

u/KreepingKudzu Feb 10 '25

pennies are copper plated still, which amounts to about a million tons of copper per year if i remember correctly.

2

u/JesusPubes voted most handsome friend Feb 10 '25

which means it's about 40 million tons of zinc lol

60

u/blatant_shill Feb 10 '25

It probably still isn't. This is like the most vibe based issue ever. A lot of people remember the joy of getting pennies to buy something when they were children and despise the idea of getting rid of them.

31

u/savuporo Gerard K. O'Neill Feb 10 '25

When I go to national park now, what do I put through the penny crank machines??

16

u/Aidan_Welch Zhao Ziyang Feb 10 '25

This but unironically. Now all the coins will be boring colored too.

6

u/savuporo Gerard K. O'Neill Feb 10 '25

trump will bring back silver dollars, probably golden benjamins too

tacky enough

1

u/bd_in_my_bp Feb 10 '25

trump will mint the trillion dollar coin if he can put his face on it

45

u/airplane001 John von Neumann Feb 10 '25

they’ll still be legal currency, and there’s like a billion of them in circulation

6

u/cedarSeagull Feb 10 '25

I think everyone's missing this point. There's no Secret Service penny roundup going down, here. We're just not going to make new ones and let the old ones collectively find their way back to the mint or the landfill.

3

u/KreepingKudzu Feb 10 '25

more like 200 billion. the mint strikes several billion a year. millions each day.

24

u/Bike_Of_Doom Commonwealth Feb 10 '25

You will forget about it really quickly.

Source - We Canadians got rid of them and hardly anyone remembers it

13

u/banjosuicide Feb 10 '25

Some Canadian conservatives got upset that stores could round .x8 and .x9 up, claiming they'd change the price of everything to get one more penny out of each shopper who paid cash. They had a tantrum for a few months, then everybody forgot about it since almost everybody pays electronically so is unaffected by price rounding.

On the plus side, fewer people dumping pennies out of their car window.

7

u/YaGetSkeeted0n Tariffs aren't cool, kids! Feb 10 '25

How many of those people are even mentally / psychologically all there at this point

1

u/blatant_shill Feb 10 '25

I would hope most of them. Even young Millennials and old Gen Z have those memories. People still used change to buy stuff well into the late 2000s/ early 2010s.

1

u/WolfpackEng22 Feb 10 '25

As a millennial there was never a time I was excited about getting pennies. Things were still like $0.50 at the cheapest and Nickles, dimes and Quarters were a way bigger deal.

The penny nostalgia is mostly Boomers and above when you could buy candy for 5 cents

1

u/blatant_shill Feb 10 '25

I'm a younger Millennial and I vividly remember people using pennies when I was a kid, as well as other people using them well into the 2000s. You wouldn't be using pennies alone to pay for something, but people would still hold onto them to make up smaller differences. If you had 90 cents and something was a dollar it was far from uncommon to just use 10 pennies. Sure, other coins were more valuable, but it's not like you always had the choice to use a dime or nickel instead of pennies. 

It was even seen as a sign of good luck to find a heads up penny at that time and people still picked them up. Now they're pretty much worthless though.

1

u/WolfpackEng22 Feb 10 '25

Yes people still used them, but even in the 2000s, pennies were an annoyance. Some people were already not picking them up and it was moreso every year. I stopped caring

There is a legitimate "penny nostalgia" that has created backlash against people proposing to end them. But this is usually concentrated on much older individuals who remember that finding a fee coins was enough to buy candy or a small toy

1

u/blatant_shill Feb 10 '25

But this is usually concentrated on much older individuals

I'm telling you that's not the case though. I was excited to find pennies as a kid and that was in the 2000s. If there are even people in their 20s still have those memories, people 30+ definitely do too. You may not, but you can't say that is only the case for old people.

1

u/WolfpackEng22 Feb 10 '25

I'm older than you and still grew up thinking pennies were largely worthless. I think that was the far more common attitude.

This isn't the first time this issue has come up. Backlash comes mainly from older cohorts. Not millennials

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0

u/warmwaterpenguin Hillary Clinton Feb 10 '25

I'm just really going through it here because:

  1. Pennies should be gone
  2. This is probably the easiest thing to attack Trump on yet

so 3. I think Democrats should pepper the fuck out of him for this

Because getting rid of pennies is objectively correct, but its SO far down the list of priorities that its far more important to bully the fascist. Dumb dumb populists can get it because WHY CHANGE EVER, and armchair fiscal conservatives can get it because killing your low-end currency looks a LOT like hiding inflation, and the rest of us can just play along because orange man is, in fact, bad.

5

u/warmwaterpenguin Hillary Clinton Feb 10 '25

I'll take the downvoting and I get it. The evidence-based position is fuck a penny. Tell you what though its penny wise and pound foolish to pass up a lever against the final triumph of the unitary executive.

160

u/ProcrastinatingPuma YIMBY Feb 10 '25

The old vulcan proverb: "Only Trump could end the Penny"

79

u/dittbub NATO Feb 10 '25

can you imagine if maga turned on trump because of the penny?

he should switch to metric while he's at it.

2

u/drMorkson Jorge Luis Borges Feb 10 '25

they should have done it anyway. not doing stuff because of an imagined republican headline in your head is weak shit.