Trump's claimed justification for ending the penny makes no sense at all [View all]
Earlier this year, America's First Communist President forced the United States Mint to stop making pennies. His justification was it costs more than one cent to make a penny, so they must be bad.
If pennies were single-use items, this would be a sensible thing to do.
They aren't.
The US Mint says a penny has a 30-year service life. If a penny changes possession on average just one time per day, in a year that penny has seen $3.65 worth of usage. Over the penny's lifespan, it will see $107.38 worth of usage.
Because a penny is a durable item that never depreciates - if you could find a penny from 1793, the first year they were made, and spent it in a store it would still be worth one cent - how much they cost to make isn't really an issue.
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