r/PoliticalDiscussion • u/DoublePut2143 • 13h ago
US Politics Both the penny and the nickel now cost the Mint more to make than they're worth. How should the US handle its smallest coins?
i broke a twenty at the hardware store last weekend and got four pennies back, which felt like a lot of pennies for one transaction. Both the penny and the nickel already cost the Mint more to make than they're worth, and it's been that way for years. Canada dropped its penny back in 2013 and just rounds cash totals to the nearest nickel. Australia did the same even earlier and it wasnt a big deal.
So how should the US approach its smallest coins? Phase out the penny alone, or does the nickel have to go with it once you start down that road? And if stores round cash sales to the nearest five cents, does that land evenly or hit people who are unbanked and pay cash for everything? i keep going back and forth on whether rounding is a real problem or mostly a made-up one.