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Will the penny be discontinued?

No, the United States Mint/Federal Government has no plans of discontinuing the penny. However, there have been talks about the penny being eliminated. Despite the discussions about potentially suspending it, the penny production continues on and is still being circulated.

Will the U.S. ever get rid of the penny?

The U.S. Mint has no plans to discontinue the penny, and such a move would require congressional approval. However, the Penny Debate continues in the United States, with pro- and anti-penny advocates both making some pretty solid points in their arguments.

Should we keep the penny or get rid of it why?

Preserving the penny keeps consumer prices down and avoids harming low-income households. A penny can be used for decades and is more cost-efficient to produce than a nickel.

Why should we keep pennies?

Those who favor keeping the penny believe the penny plays an important role in keeping down the costs of the goods and services we buy. If there were no pennies, stores and restaurants would round up to the nearest nickel. This means consumers would end up paying $0.55 for something that should cost only $0.51.

What are the cons of getting rid of the penny?

People are sentimentally attached to the penny. Consumers could spend more because prices will be rounded up. Removing it from circulation would make for unpopular public policy. Eliminating the penny could harm low-income families. Charities might lose an important part of the donations they receive.

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What would happen if we get rid of the penny?

Consumers could spend more because prices will be rounded up. Eliminating the penny would require rounding prices to the nearest five, and as businesses will be the ones making that call, it will most likely be rounded up and increase prices.

What will replace the penny?

(1) All pennies will be discontinued from the United States currency circulation and not replaced with a denomination of equal value. (2) The United States Mint will be directed to stop their production of the penny and not replace it with a denomination of equal value.

Are pennies going away in 2023?

The U.S. Mint has no plans to discontinue the penny, and such a move would require congressional approval.

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