Trump wants to abolish the Penny: waste of money or necessity?
Trump wants to abolish the Penny: waste of money or necessity?
Harrison, New Jersey, USA - President Donald Trump announced in a recent posting on his social media channel Truth Social to have the production of the controversial one-cent coin, also known as Penny. Trump expressed that the mint of the penny was considered wasteful, since the production costs exceed the coin itself, specifically more than 2 cents. This decision is made in a long existing discourse on the need and benefits of the penny in American currency policy.
The Penny was first issued by the US government in 1793 and has had President Abraham Lincoln's profile on the front since 1909. In recent years there have always been discussions about whether this coin should remain part of the American currency offer. The debate about the abolition of the penny is not new, but it is re -sparked by Trump's recent advance. No decision was made on the official side.
economic aspects
The economic arguments against the one-cent coin are complex. Experts argue that the costs for the characteristics and distribution of the coin go beyond real value. With the digital transformation and the increase in cashless payment options, the need for the penny is in question. Many citizens and business owners have already spoken out for abolition.
collector markets and historical importance
The Lincoln Penny, especially the variants such as the 1935 S Lincoln Penny, remains a very valued object for collectors. These coins are still traded on platforms like Ebay. For example, a 1935 S Lincoln Penny is currently offered by a commercial seller in New Jersey for 11.50 euros. With shipping costs of 21.79 euros, this penny could be an interesting investment for collectors, but due to the varying market prices, this also carries a risk.The history of the penny not only reflects the monetary, but also the cultural currents in the USA. The Lincoln Penny not only shows the country's first president, but is also a symbol of the change and development of the American monetary system. Informative reports on this money story can be found on the website of the coin week, which offer a deep insight into the development of the American currency.
In view of the current discussion,the final decision regarding the penny could have far -reaching effects on the American economy and culture. Is the penny finally abolished, or will it be abolished in the coming years? The coming months will show whether this cent will remain part of everyday American life.
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| Ort | Harrison, New Jersey, USA |
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