The U.S. Is Killing the Penny Officially—Why It's Important

Find a penny pick it up, all day long you’ll have good luck…. JUST KIDDING BECAUSE PENNIES ARE LEAVING US… Kind of.

So, apparently, after the Super Bowl, President Trump announced that the United States government would stop minting new pennies because—get this—making one costs more than a penny. Trump said:

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“For far too long, the United States has minted pennies which literally cost us more than TWO cents. This is so wasteful!”

According to the United States Mint, each penny costs 3.7 cents to produce. But keep your coin jars handy, because ditching the penny may result in a new problem: more nickels, which are even worse. Each nickel costs 13.8 cents to produce.

Beyond the money math, there’s another issue: What happens to prices?

Experts predict that businesses will begin rounding up or down to the nearest five cents. And let’s be honest: when has a store ever decided to round down?

CANVA

Canada discontinued the one-cent coin in 2012, and studies revealed that Canadians ended up paying more at grocery stores each year. *Cries in Spanish*.

So, what happens now? A completely cashless society? Or will we keep hoarding pennies in our junk drawers indefinitely? In any case, one thing is certain: if you drop a penny on the ground, you should probably leave it there.