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Pennies for Your Thoughts: Are They Really Worthless Now?
Takeaways:
- The US Mint has stopped producing pennies, but they are still part of our lives.
- The government estimates that halting penny production could save over 50 million dollars annually!
- Questions arise about how prices will be set—will everything just end in fives and zeros now?
- There are concerns about the fate of wishing wells and whether they’ll be left empty without pennies.
- Phrases like 'a bad penny' might become obsolete; what else will change with this coinage shift?
- And finally, what should we do with all those pennies we've hoarded over the years?
Transcript
This is the Daily Note.
Speaker A:I'm James A.
Speaker A:Brown.
Speaker A:Just because the US Mint is done with pennies doesn't mean pennies are done with the rest of us.
Speaker A:The government says we'll save more than 50 million bucks a year after the change because each penny costs nearly 4 cents to make.
Speaker A:Now all that makes sense.
Speaker A:But I have a few questions about how all this will play out.
Speaker A:Will prices only end in fives and zeros now?
Speaker A:Some fast food restaurants are already rounding up.
Speaker A:And what about wishing wells?
Speaker A:Will they go empty?
Speaker A:Or maybe we'll throw nickels into them?
Speaker A:Now, what about phrases like a bad penny or an honest penny?
Speaker A:Will they go away, too?
Speaker A:And what should I do about the giant bucket of pennies behind my desk besides holding on the hope that a penny is no longer worth just a penny anymore?
Speaker A:What do you think?
Speaker A:Tell me your two cents.
Speaker A: -: Speaker A:On that note, I'm James A.
Speaker A:Brown and as always, be well.
