# An Alternative to Discontinuing the Penny **URL:** \ **Category:** Miscellaneous and Personal Stuff I Must Share\ **Created:** [February 10, 2025, 5:46pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142 "2025-02-10T17:46:36Z")\ **Posts on this page:** 20\ **Page:** 8
**Author:** ![Ynnad](https://avatars.discourse-cdn.com/v4/letter/y/4491bb/32.png) [@Ynnad](https://boards.straightdope.com/u/Ynnad)\ **Post date:** [February 16, 2025, 9:29pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/141 "2025-02-16T21:29:28Z")
> [@I\_Love\_Me\_Vol.I](#): > > (neverevermind; already covered) In regards to recycling pennies, it should be noted that venues for recycling aluminum are common but recycling pennies made of the current zinc composition would not be cost effective because there are few recycling facilities for small amounts of zinc. Don’t worry about the pennies made in 1982 and before composed of mostly copper. There are plenty of people already removing them from circulation and hoarding them for their metal content. However, current Treasury regulations prohibit melting pennies and nickels for their scrap metal content. ---
**Author:** ![kenobi\_65](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kenobi_65/32/13178_2.png) [@kenobi\_65](https://boards.straightdope.com/u/kenobi_65)\ **Post date:** [February 17, 2025, 12:59am UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/142 "2025-02-17T00:59:29Z")
> [@Ynnad](#): > > but recycling pennies made of the current zinc composition would not be cost effective because there are few recycling facilities for small amounts of zinc. Not to mention the fact that they aren’t 100% zinc, but are clad with copper. Google indicates that a current penny is only about 2.5% copper, but its presence probably makes melting down and recycling pennies more complex than it would be if they were made from a single metal. ---
**Author:** ![DrDeth](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@DrDeth](https://boards.straightdope.com/u/DrDeth)\ **Post date:** [February 17, 2025, 4:13am UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/143 "2025-02-17T04:13:44Z")
> [@Ynnad](#): > > This was a response the proposal to keep the prices of each individual item to the nearest nickel or dime to avoid any rounding for the total purchase. That would multiply the bad effects. A terrible idea. ---
**Author:** ![carnivorousplant](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/carnivorousplant/32/3563_2.png) [@carnivorousplant](https://boards.straightdope.com/u/carnivorousplant)\ **Post date:** [February 17, 2025, 11:03pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/144 "2025-02-17T23:03:45Z")
How long does a penny last? I went through a jar of the damn things, and many were 50 or 60 years old. How many are minted each year? ---
**Author:** ![Elmer\_J.Fudd](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/elmer_j.fudd/32/1211_2.png) [@Elmer\_J.Fudd](https://boards.straightdope.com/u/Elmer_J.Fudd)\ **Post date:** [February 18, 2025, 12:44am UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/145 "2025-02-18T00:44:41Z")
3.2 billion pennies minted last year. Ten years ago it was 9.3 billion. ---
**Author:** ![kenobi\_65](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kenobi_65/32/13178_2.png) [@kenobi\_65](https://boards.straightdope.com/u/kenobi_65)\ **Post date:** [February 18, 2025, 12:47am UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/146 "2025-02-18T00:47:19Z")
> [@carnivorousplant](#): > > How long does a penny last? The U.S. Mint says that [coins last an average of 30 years in circulation](https://kids.usmint.gov/coins-life). With pennies, part of the issue probably is how many are out there, _technically_ in circulation, but not actually circulating, as they’re spending years sitting unused in a jar on someone’s counter or dresser. And, so, a lot of the ones that are out there are probably even older. ---
**Author:** ![mixdenny](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mixdenny/32/2962_2.png) [@mixdenny](https://boards.straightdope.com/u/mixdenny)\ **Post date:** [February 22, 2025, 9:16pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/147 "2025-02-22T21:16:50Z")
> [@smithsb](#): > > The most valuable nickel is the 1913 Liberty Head Nickel, which is estimated to be worth over $3 million. Only five of these coins are known to exist, and they were never officially released. The detailed provenance of all five 1913 coins is known. The latest sale in 2022 was $4.2 million. Sigh, my bid fell well short of the mark. But I have a 1921 Morgan silver dollar, supposedly uncirculated, coming over this weekend to look at and make an offer. ---
**Author:** ![Chefguy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chefguy/32/138_2.png) [@Chefguy](https://boards.straightdope.com/u/Chefguy)\ **Post date:** [February 22, 2025, 9:23pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/148 "2025-02-22T21:23:39Z")
Someone pointed out that if the penny goes away, the nickel becomes the small change coin. Prices will go from $xx.99 to $xx.95. Since it costs more to make a nickel than a penny, it’s a net loss, not a gain. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [February 22, 2025, 9:26pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/149 "2025-02-22T21:26:38Z")
> [@Chefguy](#): > > Prices will go from $xx.99 to $xx.95. Why will prices change? ---
**Author:** ![Chefguy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chefguy/32/138_2.png) [@Chefguy](https://boards.straightdope.com/u/Chefguy)\ **Post date:** [February 22, 2025, 10:34pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/150 "2025-02-22T22:34:05Z")
> [@Dewey\_Finn](#): > > Why will prices change? Because if something used to cost $9.99, there will be no pennies for change, so the price will have to be changed to 9.95 or 10 or 10.05, since the nickel will be the lowest denomination, eventually. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [February 22, 2025, 10:37pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/151 "2025-02-22T22:37:20Z")
Cash transactions are already the minority; most people use debit or credit cards, and those transactions can still be denominated to the penny. Also, most people aren’t buying just one item but a basket of goods (often a _literal_ basket of goods) with varying prices and only the total including sales tax needs to be paid, and it’s that total that needs to be paid. But this total can be rounded down or up. In other words, I see no reason why prices need to change. Ask a Canadian if everything is priced in $0.95 increments. ---
**Author:** ![keeganst94](https://avatars.discourse-cdn.com/v4/letter/k/a6a055/32.png) [@keeganst94](https://boards.straightdope.com/u/keeganst94)\ **Post date:** [February 22, 2025, 10:59pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/152 "2025-02-22T22:59:02Z")
That’s not how it works, at least usually. Canada got rid of the penny years ago but xx.99 and xx.98 advertised prices are still common. Rounding is only done on the total, after tax is applied, and only if the transaction is in cash. ---
**Author:** ![Elmer\_J.Fudd](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/elmer_j.fudd/32/1211_2.png) [@Elmer\_J.Fudd](https://boards.straightdope.com/u/Elmer_J.Fudd)\ **Post date:** [February 22, 2025, 11:01pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/153 "2025-02-22T23:01:25Z")
And, unlike the penny, no cashier will ever need to hand out more than one nickel at a time as part of the change. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [February 22, 2025, 11:16pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/154 "2025-02-22T23:16:14Z")
I do expect that nickels will be more commonly used and probably will need to be produced in greater numbers. ---
**Author:** ![Elmer\_J.Fudd](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/elmer_j.fudd/32/1211_2.png) [@Elmer\_J.Fudd](https://boards.straightdope.com/u/Elmer_J.Fudd)\ **Post date:** [February 22, 2025, 11:35pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/155 "2025-02-22T23:35:16Z")
There will still be less call for nickels than any other denomination. That’s always been the case thanks to the dime. ---
**Author:** ![Peter\_Morris](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/peter_morris/32/359_2.png) [@Peter\_Morris](https://boards.straightdope.com/u/Peter_Morris)\ **Post date:** [February 22, 2025, 11:51pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/156 "2025-02-22T23:51:04Z")
Why not withdraw the 1c coin, and make a new 2c coin? Make it out of plastic, so it’s cheap. If a shop has to give 1c or 3c in change, round it up to 2c or 4c. Any other amount they can pay exactly. They would only lose a maximum of 1 c per transaction, and that only occasionally. ---
**Author:** ![kenobi\_65](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kenobi_65/32/13178_2.png) [@kenobi\_65](https://boards.straightdope.com/u/kenobi_65)\ **Post date:** [February 23, 2025, 1:51am UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/157 "2025-02-23T01:51:06Z")
> [@Peter\_Morris](#): > > Why not withdraw the 1c coin, and make a new 2c coin? Make it out of plastic, so it’s cheap. Probably not substantially less useless than a penny. > [@Peter\_Morris](#): > > If a shop has to give 1c or 3c in change, round it up to 2c or 4c. Any other amount they can pay exactly. They would only lose a maximum of 1 c per transaction, and that only occasionally. As has been noted several times in this thread, in Canada, for example, they have removed the penny from circulation, and simply round to the nearest 5c for cash transactions (round down for .01 and .02, round up for .03 and .04). It seems to work just fine, without having to introduce yet another coin. ---
**Author:** ![DrDeth](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@DrDeth](https://boards.straightdope.com/u/DrDeth)\ **Post date:** [February 23, 2025, 2:26am UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/158 "2025-02-23T02:26:35Z")
> [@Chefguy](#): > > Prices will go from $xx.99 to $xx.95. No, no, no. Prices will stay the same. The end, total bill will be rounded, not the prices. > [@Chefguy](#): > > Because if something used to cost $9.99, Gas prices are often in mills, but you dont have a Mill coin. And you generally dont pay 99 cents for a 99 cent item, there is often sales tax. > [@kenobi\_65](#): > > As has been noted several times in this thread, in Canada, for example, they have removed the penny from circulation, and simply round to the nearest 5c for cash transactions (round down for .01 and .02, round up for .03 and .04). It seems to work just fine, without having to introduce yet another coin. Yep. works fine. ---
**Author:** ![BwanaBob](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bwanabob/32/2985_2.png) [@BwanaBob](https://boards.straightdope.com/u/BwanaBob)\ **Post date:** [February 25, 2025, 8:29pm UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/159 "2025-02-25T20:29:07Z")
Stupid logic. Penny cost 3.7 times its face value to make. Nickel costs 2.7 times face value to make. True, both lose money. But the waste is reduced if you replace every 5 cents not made with one nickel. Cost of 5 pennies = 18.5 cents Cost of a nickel =\> 13.8 cents You reduce the waste by 5c for every nickel made in place of 5 pennies. But of course you could drop both a replace with dimes which cost 5.2 cents per dime. Some people hate change. I hate pocket change. ---
**Author:** ![Ynnad](https://avatars.discourse-cdn.com/v4/letter/y/4491bb/32.png) [@Ynnad](https://boards.straightdope.com/u/Ynnad)\ **Post date:** [February 26, 2025, 1:52am UTC](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142/160 "2025-02-26T01:52:27Z")
> [@BwanaBob](#): > > Penny cost 3.7 times its face value to make. The whole idea in the original post was that we can still have pennies if the the cost of production can be reduced to less than face value. A small rinky-dink piece of aluminum or plastic would work. > [@BwanaBob](#): > > Nickel costs 2.7 times face value to make. … [R]eplace with dimes which cost 5.2 cents per dime How about half dimes? I have one; it is really small. The U.S. used them for almost 100 years before eventually being replaced by nickels. Useless trivia - the first U.S. nickels were three-cent nickels before the five-cent nickel was introduced. There has been much discussion in this thread about rounding. As pointed out earlier, there is nothing stopping merchants from always rounding down and/or refusing to accept pennies. If this catches on, we could have an essentially “penniless”\* marketplace to keep the penny-haters happy and still have some pennies around for the penny-lovers. \*This seems to be a rather unusual use of the word penniless but I think its meaning is clear in this context. [Previous page](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142.md?page=7) [Next page](https://boards.straightdope.com/t/an-alternative-to-discontinuing-the-penny/1014142.md?page=9)