About time. The penny isn’t worth the metal it’s minted on anyway.
Unrelated, but the archive link isn’t loading for me strangely. I’ll keep trying throughout the day and see if it loads.
Here’s another link: https://ghostarchive.org/archive/SJTM2
Canadian here. We haven’t used the penny in over a decade. You won’t miss it.
If a currency has been debased to the point that its lowest denomination has been determined worthless, that’s not a coinage problem; it’s a fiscal-policy problem. Shave off two zeros and bring back the quarter-cent, and … problem solved (though those 9 mills on gas prices would actually mean something again).
But that would make Musk’s goal of being the first trillionaire out of reach, so let’s kill the penny ahead of addressing long-festering problems with the financial system.
On the one hand, I think this is part of a push to digitize all currency eventually so that it can be tracked (and controlled). It also makes things just that little bit more expensive for people who are unable to secure banking, as businesses will now round-up for cash transactions.
On the other hand, US pennies have always been imo a badly designed coin. They’re both too bulky for their value, but not so hefty that they feel good aesthetically.
No comment on the symbolism of this particular administration killing the currency denom with Lincoln on it. 🙃
Cool. Elimitate the dollar-bill next.
