Rams
Member
Posts: 16684
So many colors to choose from yet so few stand out
Covington, TN
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« on: November 13, 2025, 05:04:59 AM » |
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The report on the news last night said it costs four cents to produce a single penny! My question is, why did it take so long to figure this out? I also wonder who actually got that last penny.  Rams |
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VRCC# 29981
Learning the majority of life's lessons the hard way.
Every trip is an adventure, enjoy it while it lasts.
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Serk
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« Reply #1 on: November 13, 2025, 05:21:15 AM » |
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I also wonder who actually got that last penny. For the right coin, it could be yours: Production of circulating pennies was suspended months ago, Mint officials said, but an unspecified number of additional one-cent coins - marked with an Omega symbol to signify the last of their kind - were made to be auctioned off in December.
The five pennies pressed on Wednesday will be part of that batch, said Robert Kurzyna, superintendent of the Philadelphia Mint. Details of the auction will be released shortly, he said. Those pennies could technically be used for circulation, unlike collector coins, which are shinier and made differently.
The Philadelphia Mint produced 232 of Omega-stamped coins for the auction, one for each year the penny was produced, plus three for display at Treasury and other institutions, a source familiar with the matter said. It also produced 235 gold pennies, the source said.https://www.reuters.com/business/retail-consumer/bessent-us-treasurer-strike-final-penny-philadelphia-mint-2025-11-12/ |
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Never ask a geek 'Why?',just nod your head and slowly back away...  IBA# 22107 VRCC# 7976 VRCCDS# 226 1998 Valkyrie Standard 2008 Gold Wing Taxation is theft. μολὼν λαβέ |
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Rams
Member
Posts: 16684
So many colors to choose from yet so few stand out
Covington, TN
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« Reply #2 on: November 13, 2025, 05:28:37 AM » |
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Well Serk, you're just a wealth of information. No, I don't want one of those last pennies unless it's gifted to me. I've been saving pennies for over 40 years, they are all for sale at 3.5 cents per single coin. Any takers? Rams  |
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VRCC# 29981
Learning the majority of life's lessons the hard way.
Every trip is an adventure, enjoy it while it lasts.
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h13man
Member
Posts: 1869
To everything there is an exception.
Indiana NW Central Flatlands
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« Reply #3 on: November 13, 2025, 09:42:44 AM » |
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« Last Edit: November 13, 2025, 09:48:33 AM by h13man »
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GiG
Member
Posts: 2890
"That's just like, your OPINION, Man!"
NEAR the "In 'n' Out Burger"
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« Reply #4 on: November 13, 2025, 11:32:45 AM » |
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Everything is - Nothing is .
When you come to a fork in the road - TAKE IT!
(send it to OSS)
This isn’t Rocket Surgery
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vanagon40
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« Reply #5 on: November 13, 2025, 07:40:19 PM » |
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. . . . My question is, why did it take so long to figure this out?
. . . .
Rams
Maybe because eliminating the penny may not save money. It costs over 12½¢ to make a nickel. "[W]e might save money by cutting out the penny, but we could end up spending even more money to produce nickels." The Penny Problem Isn’t Solved—It’s Just Moved to the Nickel |
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« Last Edit: November 13, 2025, 07:42:02 PM by vanagon40 »
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Rams
Member
Posts: 16684
So many colors to choose from yet so few stand out
Covington, TN
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« Reply #6 on: November 13, 2025, 07:46:01 PM » |
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. . . . My question is, why did it take so long to figure this out?
. . . .
Rams
Maybe because eliminating the penny may not save money. It costs over 12½¢ to make a nickel. "[W]e might save money by cutting out the penny, but we could end up spending even more money to produce nickels." The Penny Problem Isn’t Solved—It’s Just Moved to the NickelThe same question applies to the nickel. But save a few of them, we need them to do the Nickel Show on our Valks. Rams |
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VRCC# 29981
Learning the majority of life's lessons the hard way.
Every trip is an adventure, enjoy it while it lasts.
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cookiedough
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« Reply #7 on: Yesterday at 04:32:43 AM » |
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crazy, what is next as said costing more for nickels to produce than a fricking penny. If the govt cuts nickels next, all merchandise will be rounded up to a dime, costing us even more money. I know the younger generation and even us older folks somewhat do not carry cash/coin around anymore all charge expenses on credit cards, etc. but this is crazy. I for one do not do venmo/paypal, etc. just not there yet.
I bet not in my day, but in say 30 to 50 years from now, ALL coin and currency will be eliminated. Not many under age 30 ever carry cash with them anymore nor pay for anything with cash.
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