Opinion
Making pennies is a money-loser. Making nickels is worse.
Why President Donald Trump chose the middle of the Super Bowl to announce that his administration would stop producing pennies is anyone’s guess. But so he did, declaring at around 9:30 on Sunday evening that he was ordering the Treasury Department (which runs the U.S. Mint) to halt the manufacture of the copper-colored coins.
Why could getting rid of pennies cost the U.S. more money?
The idea of doing away with our smallest denomination is not new. The call to cut the penny has been growing louder in recent years, thanks in large part to one simple fact. it costs more to produce a penny than it is actually worth. According to CNN, it costs us three cents for every penny produced.
The president says he’s killed off production of money-losing pennies, but nickels cost even more money to make—and we'd need ...
The penny, whose face value is a modest 1 cent, cost about 3.7 cents to make last year. They aren’t the only expensive coin.
President Trump said he wants the U.S. Treasury to stop making pennies. Can he do a penny drop? Does it need Congressional ...
Buffalo nickels are not only nostalgic coins but also potentially worth much more than five cents to rare coin collectors. Designed by Sculptor James Earle Fraser in 1911, they were in circulation ...
Covert has signed CG storytelling duo 104 NICKELS for exclusive US representation. Production company Covert has announced ...
Eliminating the penny could lead to higher demand for nickels, a shift that might negate any financial savings from halting ...
Trump says he'll order the Treasury Department to halt penny production to save money. Costly nickels, however, could cancel out savings.
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