Pennies Could Soon Disappear Completely From New England

These days, pennies really are humble coins, aren't they?

Back in the day, that was not the case. Pennies were a valuable part of our monetary system.

A century ago, a few pennies would buy you a decent meal or entrance to a silent movie. These days, they can't even buy a piece of candy!

The wildest part about pennies is that it costs four cents to make this coin, which is worth one cent. On top of that, people rarely even use them! When was the last time you took the time to count out pennies to pay for an item? Yeah, it's been a minute, hasn't it?

Even though the economics, and lack of uses, of the penny have been discussed quite a bit over the last few decades, the penny has endured. That may not be the case for much longer.

According to ABC News, President Trump has made it known that he intends to do away with pennies. He reportedly posted his intent on social media on Sunday night.

He is actually not the first president to bring up the idea of getting rid of the penny. In 2013, President Obama made mention of getting rid of the penny during a speech. It does not look like he went further than mentioning it, though.

Elijah Mears / Unsplash

Can President Trump do it?

The article explains that getting rid of a coin, especially one that has been around for 233 years, it would likely take an act of Congress. However, the article also mentions that Scott Bessent, President Trump's Treasury Secretary, has the power to get rid of a coin.

Of course, in the past, the country discontinued many coins. It would not even be the first time that we have discontinued a denomination. The half-cent coin was discontinued way back in 1857.

If it does happen, the nickel could be next. While more useful than the penny, it still costs nearly three times as much to make a nickel as the coin is worth.

What is your opinion? Should we keep the penny or do away with it? When was the last time you used a penny?