The U.S. Might Get Rid of the Cent (Penny)... Should They? A Coin Dealer Reacts

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Ben The Coin Geek
Old Pueblo Coin

[@Eddie-yc5yd]

The penny went away in 1982.

[@mattmatt6572]

After that they started making them out of disappearing ink

[@brooksrownd2275]

More like 1857

[@TheQuickSilver101]

It's funny that we're seemingly ready (as a society) to get rid of the cent yet unwilling to discuss the reason we even need to think about that. As far as economics go minting the penny no longer makes sense because it costs more to make than they are worth, yet nobody mentions that the US Mint is the most profitable mint in the world. They can easily afford to continue minting the penny and the nickel and if they can't maybe we should stop minting them, then start a discussion about inflation and fiat currency. Maybe that's just me, though

[@mattmatt6572]

I don't see them as profitable. I think of the money they create as inflation.

[@CrustyWhiteBread]

Getting rid of the cent is an acknowledgement we cannt even afford a zinc standard.

[@littlewindow7146]

I still pick up pennies. That doesn't necessarily mean we should keep making them. (BTW, love the new shirt, Ben!)

[@sandiepaul9421]

One of my albums is found pennies with date and location! ❤😂❤

[@667hodge]

Im 61 and very capable of still bending over and not ashamed to pick up a cent.A little while back I found one in Walmart parking lot,it was a 1911.Getting rid of cents and nickels is only going to raise prices,as they will round up,not down.Over time,there will be a huge difference.The Mint never loses money either.Who would get stuck with changing every point of sale system in every retail environment in our entire country,as well as online?As far as designs,Im all for it, unfortunately they don't have anyone who knows how to design anything.

[@madeinfoxtrap5539]

According to a study done by The rounding up has cost Canadian consumers $1 million dollars a year We have about 10 percent Of the US population Canadian cent disappeared in 2012

[@leinbajr]

$1 million / 40 million people equals 2.5 cents per person. Oh no! Whatever shall we do, wherever shall we go?

[@rickbruceroche2038]

Agree, on both the cent and nickel.

[@ez054098]

Nice Office Space reference

[@christopherclark-wg3pc]

I'd like to see famous Indian chiefs series

[@BoxForSobriety]

The Lincoln Cent will soon go the way of the infamous Ben MintState Mustache 👋

[@Jan-m5c2r]

Here in Scandinavia we've waved goodbye to our smaller coins years ago, since no one really used them 🙂

[@alwaysseekingsilver]

I’m all for stopping the production of cents and nickels, but not demonitizing all the current coins that have already be produced. There’s certainly enough of them in circulation now to satisfy most commerce for the foreseeable future since most people don’t carry cash/coins anymore, just plastic and electronics.

[@CindyPlatts]

Love the office space reference. I used to pick up cents until the last two times while traveling my car broke down shortly after picking them up. It was an old car with a ton of miles but I’m sure that had nothing to do with it. Get rid of the vent and nickel. No more dead people on our coins please. Perhaps replace them with historical references with beautiful design. There are enough cents and nickels in circulation to last 50 years.

[@darrellCRH]

If they get rid of either coin, they will be taken out of circulation by the banks and sent to the mint to be melted to recover the precious metals.

[@FoxValleyStacker]

im 50 and perfectly capable of picking up coins off the ground and often do. its a shame but why spend over 3 cents to make 1?

[@muhfff]

Well, if the nickel would be also gone, then the quarter should be also replaced. Otherwise its not possible to give change, if the amount is xxx,20, and the buyer gives xxx,25 :)

[@rockers7889]

Pennies and nickles gone ? Haircut 100 Where does it go from here ? You might as well get rid of all the under a dollar change . Then make a small dollar coin , a little bit larger 5 dollar coin and a bigger yet ten dollar coin . Then keep twentys as the smallest denomination of paper tender , as inflation rises

[@limaechonumismatics]

If I could re do our monetary system, I’d get rid of the penny, put Abe on the nickel, and also start creating 1 and 2 dollar coins for circulation. I’d get rid of the 2 dollar bill and 1 dollar bill, and I’d redesign the bills to be cool again. None of this has any particular reason, I just think it’d be cool.

[@neilsmithcreditmanager]

Australia removed our 1 & 2c coins in 1991. The Royal Mint is now looking to delete the 5c coin too. The US should move to the polymer bank notes.

[@brucetelfeyan]

Ben, You already know that I will agree with you because you are a genius. But yes, the penny should cease to be mass produced while keeping it in mint and proof sets until my album has no more holes to fill. The Nickle can similarly pass on to history and we will adapt. The more radical part of me would retire the $1 bill and mass produce dollar coins. I like your idea for $200 and $500 bills, though losing or misplacing one of those would be painful. I can envision losing my wallet with a few of those big bills in it. Ouch!

[@brooksrownd2275]

I have always enjoyed paying all small purchases with cash, including coin. In part because I enjoy the ritual of it, and in part because it reduces the risk to your credit card to use the devil's plastic as little as possible. I used 4 cents this morning to make exact change for my morning ice cream. The outcome of dropping cents would naturally be price increases, since businesses always take advantage of ANY excuse to justify a price increase, and there will also be a cost to the taxpayer to buy back the massive quantities of Cents. Though a small price increment per item, price increases will add up because it's applied to every item across the consumer economy. You better spend them now before you're only allowed to unload them at a loss! That means I need to start spending down my stockpile now, one ice cream at a time.

[@ez054098]

I think getting rid of the sense makes a lot of cents.

[@kevinhoock9742]

What would the savings be if we got rid of the cent and nickel ? There would be a lot less litter in parking lots LOL

[@barnesmultimedia2725]

Look into the concept, Seigniorage.

[@LFfire1597]

Ha an office space reference 👍

[@cgcoins3639]

I'm 52 and love picking up cents or any other coins when I find them... and seriously, let's get rid of the cent before our 250th celebration in 2026... get rid of them in 2027 so we can have a special dated cents next year! And seriously... if the Government wants to save money, don't give the oil companies tax breaks! One of the most profitable industries ever doesn't need handouts from the government!

[@PaulLorenzini-ny2yw]

As long as we stop giving money to China for solar panels and wind turbines too then count me in.

[@danblochiii]

For coinage I'd like to see the cent and nickel end in 2026. Lets have the dollar bill end in 2026 as well and start pushing the dollar coins out in force. Perhaps consider a $2 or $5 coin as well so we have something for each slot in the cash register. Speaking of slots in the cash register. To make up for the phasing out dollar, l like the idea of a return of high denomination currency. $200/$250/$500 works for me. Oh and also switch the currency to polymer while we are at it.

[@louissicajr]

Problem is if you get rid of the cent, nickel production needs to increase. And the nickel is more costly per coin than the cent is. Should we then get rid of the nickel too? Maybe. But I think whatever opposition people have to rounding things to the nearest 5c would be much more if they had to round things to the nearest 10c, whether that actually increases prices or not

[@twojags88]

The USMint and Treasury need to hire you! great video.

[@twojags88]

oh and yes get rid of the cent and nickel. I only carry an 1890 morgan in my pocket. I won't / can't bend over to pickup any change, lol

[@vinnieg.6746]

I think people will pay a lot more for goods down the road. Dumb idea from a stupid man.

[@BellaNadorlik]

I would like to see the return of the $500.00 note.

[@richardmetcalf2346]

I agree. We've inflated our currency to the point that cents and nickels are a pain. You don't even have penny bubble gum machines anymore.

[@iamgabriel5823]

Yes, ditch the penny. It's a nuisance. Also, we are long overdue for a new design on the dime. I've been looking at Roosevelt my entire life -- time for something new.

[@timf2279]

Get rid of fractional taxes.

[@Bammboo176]

I'd keep it so taxes don't go up in 5 cent increments. Where I live, every time it's on the ballot to raise taxes for any reason, the people always vote in favor of paying more. Blows my mind every time.

[@indivisibleman8596]

yep. same here.

[@PaulLorenzini-ny2yw]

People that don't pay much in taxes and take a lot of benefits will always vote for more free stuff.

[@kevinpoggensee]

Hey Ben

[@milessakauye8819]

I agree, cent and nickel should be removed, let them fall away with attrition. Definitely the designs and features can be updated on the notes. The goldback designs are pretty nice.

[@MayhemInMayberry]

Too old to pick it up...that one stung a little. I laughed, but it still stung

[@Anthony-cq7lb]

💯

[@jeffreykurtz7843]

I think get rid of the nickel and dime too ! Round everything to the quarter ! Think how easy if we just used quarters !

[@PremierCoinsandBullion]

You are very Punny today, Ben!

[@edwardaustin740]

Totally in agreement with Ben. Get rid of the cent and nickel and revamp the rest, coinage and bills.

[@The_Dougie]

I think we definitely need a $500 bill

[@brooksrownd2275]

....also...."you can pry my precious denarius from my cold dead hands!"

[@bendahlager8068]

Why don't they just mint less cents and nickels. There are so many in circulation. Go to the NIFC model for say 10 years.

[@limaechonumismatics]

I can’t pretend to care too much about the cent going away, I just wonder what it will mean for proof sets in the future. I also hope people don’t try to sell 2025 Pennies for ridiculous prices.

[@JustinFreeman-c5y]

They at least need to make the 2026 and maybe do a NIFC after that in copper

[@coinfreak24]

Going back to the gold standard should be our main priority.

[@linneisenhower2571]

Glad ur back to clean shaven. Nice !

[@timber72]

Boo.

[@DaleMeredith-h1e]

Getting rid of the cents doesn't make sense when you take into account they would probably need to double nickel production. The nickel actually is a larger cost loser. Taking this into account I think that they should just leave it alone..... but President Jack His Jaws didn't realize the can of worms he opened. Taking all minting costs as a total they actually are making millions of dollars yearly . The Treasury Department has never cost the taxpayers even one cent to operate.😮

[@StevenDietrich-k2w]

Get rid of both. I don't see the value in having a 200 dollar bill as Ben proposed, but 500 is reasonable.

[@donaldinnewmexico]

Thirty-seventh???

[@michaelm7843]

Ben, you're a troublemaker. How about this, make the cent worth three cents, the nickel worth eight cents and the dime worth seventeen cents. We'll make arithmetic great again!

[@jameszak7582]

What I do not understand is where have all the Lincoln Cents gone? Trillions of them. They do not wear out, it's not like the population increases as fast as cent production. Just stop making new ones!

[@joeewell4846]

3rd year running. The cent was destined for discontinuousness following the 1982 modification, so this discussion is actually long awaited. The nickel was destined for demise following the 2008 stock market crash. The Dime, Quarter, and 50C were destined for demise following the Sept 2022 equis by BRICS. The $1 bill deserves its own grave. BRICS is the future of the economic World.

[@havoc391]

It makes CENTS! And I like the larger denomination bills it’s kit going to affect t the a money laundering drug dealers and their apprehension as much as it would help the good guys.

[@ronmueller1164]

May as well cease production of the debased inferior pot metal cents. Will not pose a problem to most all cent collectors

[@JohnD357]

We defiinitely need to redesign all the coinage. Bring back the Seated Liberty design, or Standing Liberty design. The coins now are boring.

[@remyferrari8501]

Trump can halt production of a coin, but it takes Congress to eliminate a denomination.

[@LukieDuke222]

Make Americas currency beautiful again!!

[@don951]

If it was anyone but trump suggesting it, I would be all for it. It must not be good for the regular guy. It just doesn't make cents.

[@wojak86]

Executive order: defend the dollar from the speculators and "temorarilly" suspend the convertibility of USD into crypto. Make Nixon Great Again

[@rasbobbo]

Keep the penny, ditch Musk.

[@moogalak]

TDS turns into EDS!

[@moogalak]

Yeah keep removing the comment... @rasbobbo has TDS which metastisized into EDS!

[@shoeless1137]

Ditch both

[@PaulLorenzini-ny2yw]

Love that free stuff don't you?

[@CrustyWhiteBread]

How much USAID cash are you grifting?