←back to thread

The last-ever penny will be minted today in Philadelphia

(www.cnn.com)
460 points andrewl | 2 comments | 12 Nov 25 16:10 UTC | HN request time: 0.451s | source
Show context
paxys ◴[12 Nov 25 18:20 UTC] No.45903741[source]▶
Too early to say "ever", considering there has been no act of congress on this matter and the penny continues to be legal tender. The decision to stop minting it is a (legally debatable) executive order, and the next president or even the current one can change their mind about it tomorrow.
replies(1): >>45903917 #
aDyslecticCrow ◴[12 Nov 25 18:30 UTC] No.45903917[source]▶
lets hope not. This is long overdue and should pose relatively little issue compared to most other recent questionable executive orders.

stop minting and stop accepting is commonly separated to allow adjustment. so likely a later president will just add the second phaseout step.

replies(1): >>45904131 #
1. dawnerd ◴[12 Nov 25 18:45 UTC] No.45904131[source]▶
I agree it's time to follow Canada and the rest of the world but it needs to be done through congress, not executive orders. It needs to have a proper framework for migration and laws for how payments are rounded.
replies(1): >>45907661 #
2. Waterluvian ◴[12 Nov 25 22:21 UTC] No.45907661[source]▶
I don’t believe we actually have a law that dictates how to round in Canada. There’s just a government recommendation.

I get that the U.S. is a much lower trust culture, but is it really necessary? The rounding is only for cash transactions.