Louisiana Says Farewell To The Penny!

LAKE CHARLES, LOUISIANA: The use of pennies as US currency in Louisiana may be coming to an end.

The U.S. penny has been a part of our daily currency for more than two centuries. However, there is currently discussion about eliminating it. The concept of abolishing the penny has been brought up by President Donald Trump.

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The penny is still significant, according to some, while others claim it is no longer relevant.

Why Get Rid of the Penny?

According to many experts, pennies are a waste of money. In reality, it takes more than one cent to produce one penny! One coin costs over 3.7 cents to make, according to the U.S. Mint. This means that each time a penny is made, the government loses money.

Additionally, pennies slow down currency transactions and take up space. Consider how frequently people discard them on the ground or dump them in jars because they appear to be nearly useless. Some establishments have even completely stopped taking pennies.

What Does Trump Think About Getting Rid Of Pennies?

President Donald Trump has instructed the Treasury Department to stop minting pennies.

Trump posted this on Truth Social:

For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies.

 

 Will the Penny Really Disappear?

Some Americans still enjoy using the penny, and eliminating it would require a change in the law. Many people think the United States might be the next country to do away with its lowest-value coins, as countries like Canada and Australia have already done.

The penny is still here for the time being. However, the idea of letting go of the penny may gain traction as more people switch to digital payments and inflation reduces the value of small coins.

What do you think? Should the U.S. get rid of the penny, or should it stay as part of American money? Let us know your thoughts.