Lucas: Trying to make cents of the penny’s demise
The fate of the American penny has become a topic of contention, with President Donald Trump recently ordering its production to cease, citing the cost of minting as a primary concern. It now costs nearly four cents to create a single penny, making it economically unfeasible to continue its circulation. This decision reflects a broader trend of questioning the value of low-denomination coins, as the nickel, dime, and quarter are also facing scrutiny due to their production costs—14 cents for a nickel, six cents for a dime, and 15 cents for a quarter. The irony of the situation is palpable; once a symbol of American currency and pride, the penny is now regarded as a nuisance, leading to humorous quips about its diminishing worth and the potential for further coinage cuts.
Political dynamics surrounding the penny’s demise are equally intriguing. The article playfully critiques Senate Minority Leader Chuck Schumer for not taking a stand to protect the penny, suggesting that he could have rallied public support instead of engaging in a government shutdown over more pressing issues. The piece humorously imagines a scenario where Schumer could have pitched a passionate defense of the penny, invoking phrases like “a penny saved is a penny earned.” However, the narrative takes a twist with the suggestion that Trump had plans to replace Abraham Lincoln’s image on the penny with his own—a claim that, while fictional, underscores the contentious relationship between the two political figures.
Despite the cessation of penny production, the article reassures readers that billions of pennies are still in circulation, hinting at their enduring presence in American life. The penny, which has been part of the U.S. currency system since 1793, has historical significance and has even adapted during times of crisis, such as World War II when its composition was altered to conserve resources. As the debate continues, the penny stands as a symbol of resilience, much like the American spirit itself. Veteran political reporter Peter Lucas emphasizes that while the penny may no longer be minted, it will continue to exist in our pockets, serving as a reminder of the nation’s history and the complexities of its economic decisions.
Once a proud coin of the realm, the penny has become a pest. It gets no respect.
And the penny is not even worth one cent anymore. It costs the government nearly four cents to mint one penny.
No wonder President Donald Trump ordered its demise. So in the future, every time it rains it won’t rain “Pennies from Heaven.”
Speaking about loose change, the nickel, dime and quarter will be next on the hit list before you know it. It costs 14 cents, or 14 pennies, to make a nickel, six cents to make a dime, and 15 cents to make a quarter.
And Trump did the penny pinching without Sen. Chuck Schumer and the Democrats fighting to save the penny by shutting the government down over it. He did it without even offering Schumer a penny for his thoughts.
Realistically, “Shutdown Schumer” would have been better off had he shut down the government to save the penny.
“In for penny, in for a pound,” a fighting Schumer could have said. After all, a penny saved is a penny earned.
But when he learned that Trump secretly planned to replace Abraham Lincoln on the face of the penny with his own image, he balked. It was a bad penny of an idea after all.
Unnamed and nonexistent sources said Schumer called it a “penny-ante” kind of a deal in the first place.
Of course, Trump had no such plans to replace Lincoln on the penny. But whatever Trump planned the Democrats would have attacked him on it anyway. Trump may not like pennies, but he likes Lincoln.
Besides, my imaginary White House sources say that Trump, after shooting down idea of replacing President John F. Kennedy on the old half-dollar coin, is planning to replace George Washington on the $1 bill.
Under his picture it will read, “IN TRUMP WE TRUST.”
He plans to do that at the opening ceremony of the new Trump Ballroom he is building at the East Wing of the White House, which has cost a pretty penny even if the money to pay for it came from private sources and not taxpayers.
Still, challenging Trump over the abolition of the penny is something that people could have related to. Everybody has pennies, whether they want to get rid of them or not. Pennies are everywhere.
Which is why — putting my two cents in — at Market Basket I always say “Close enough” to the change, including pennies, the part-time high school cashiers — having difficulty making change — give me back.
And it would have been a better way to challenge Trump rather than shut down the government and institute payless paydays for the military, air traffic controllers and government workers, while threatening needy people to go without food.
It was a Schumer Shutdown over nothing.
In the event you have not been watching every penny, Trump ordered Treasury Secretary Scott Bessent to stop making new pennies in February. Last week the U.S. Mint ended their production.
The Mint has been producing them since 1793. Lincoln’s image was put on the penny in 1909.
While no new pennies will be manufactured, there are billions of them in circulation and they will be around for a while, like many other government programs.
Pennies, like the American people, are rugged survivors. During World War II, for instance, pennies were zinc-coated to save copper for the war effort. But they bounced back after we won the war.
We have lived with pennies all our lives. Pennies are American history.
And they will still be around, outlasting people, politicians, popes, pundits, poets, paupers and presidents.
Save the cent.
Veteran political reporter Peter Lucas can be reached at: peter.lucas@bostonherald.com
(AP Photo/LM Otero, File)
