Trump's claimed justification for ending the penny makes no sense at all

[Abolishinist]

4. This is not a new idea, as far back as 2008

Obama said the idea of eliminating the penny was worth considering.

#1. It costs more than it’s worth. It costs more than 1 cent to make a penny (largely due to zinc and copper prices). Taxpayers effectively subsidize a coin that has negative value.

#2. Minimal purchasing power. The penny has lost over 95% of its value since its introduction. You can’t realistically buy anything with one; prices are already rounded psychologically.

#3. Time and efficiency. Studies estimate pennies waste millions of hours per year in checkout time. Businesses spend real money counting, storing, and transporting them.

#4. Environmental impact - Mining zinc and copper is environmentally costly. Eliminating the penny would reduce metal extraction, energy use, and emissions.

Full Disclaimer: when I was considering running for President, one of my top 3 policy proclamations was the elimination of the penny. Another was bringing back Sunday afternoons at the local Colosseum, where those who have no idea who you are call and awaken you at 6:30 in the morning in an attempt to sell you something. They will be put to death. The 3rd was free pizza for everyone every Friday. Well, when I asked for donations, someone knocked on my door at 6:30am on a Friday morning to deliver a pizza containing 1,000 pennies immersed in gooey cheese. I decided to drop out.