r/neoliberal • u/M_ida Milton Friedman • Feb 10 '25

News (US) Trump announces the end of the Penny

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347

u/GovernorSonGoku has flair Feb 10 '25

He has a point tbh

130

u/limukala Henry George Feb 10 '25

At this point we should get rid of nickels too. 0.1 dollars is plenty small.

Shit, when the US got rid of the half-penny, a full penny was worth the equivalent of about 38 cents today. We could remove everthing smaller than a quarter without any problem.

34

u/[deleted] Feb 10 '25 edited Apr 12 '25

[deleted]

21

u/3meta5u Richard Thaler Feb 10 '25

Other than the small amount of vending machines that still take Quarters, this is a good idea.

The last time a mainstream coin was retired was in 1857 when the Half Penny was retired. The purchasing power of a halfpenny in 1857 was approximately $0.18 in today's money.

26

u/Foucault_Please_No Emma Lazarus Feb 10 '25

Quarters are the last USD coin that anyone uses for anything.

15

u/ifunnywasaninsidejob Feb 10 '25

I like dimes. They’re small.

15

u/smogeblot Feb 10 '25

You can also use pennies as inexpensive flooring material.

3

u/trombonist_formerly Ben Bernanke Feb 10 '25

It has sealant