Proposed Elimination of the Penny in the U.S.

SOURCE www.npr.org
President Trump wants to eliminate the penny, a move that has been attempted by both Republicans and Democrats in the past.

Key Points

  • President Trump is the latest to propose eliminating the penny
  • Both Republicans and Democrats have attempted to get rid of the penny without success
  • Potential cost savings in production

Pros

  • Could save money in production costs
  • Eliminate a low-value coin that is not widely used

Cons

  • Could lead to rounding up of prices
  • Historical and sentimental value associated with the penny