The US government has stopped producing pennies, citing the high production costs and waste associated with minting such small coins. The decision was made by President Donald Trump, who argues that the penny’s value is not worth the cost.
However, some people disagree, citing sentimental reasons for keeping the penny as a symbol of thriftiness and consistency. In 2002, Charles Lane was told to “save your pennies” at work after expressing concerns about his college tuition costs. He took this advice literally and collected one-cent coins with his son until they accumulated 10,142 pennies.
Lane’s experience highlights the challenges of keeping a penny hoard. Despite accumulating an impressive sum, their pennies were only worth $101.42, barely enough to cover monthly expenses. Lane estimates that the government wastes over $179 million in producing pennies each year, making them more trouble than they’re worth.
Source: https://www.thefp.com/p/stop-making-cents