Is It Time to Say Goodbye to the Penny?

KQED's Forum

KQED

Politics, News, News Commentary

4.6 • 656 Ratings

🗓️ 11 March 2025

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Pennies are as lucky as ever, but the U.S. Mint reported losing more than $85 million last year producing the coin. Now President Trump has added his voice to bipartisan calls to stop minting the penny, but it would be up to Congress to make change. Would you miss the one-cent piece? We look at the historical, cultural and economic significance of the penny. Tell us your thoughts. Guests: Seth Chandler, head numismatist, Witter Coin Jay Zagorsky, professor of economics, Boston University Questrom School of Business Jacob Goldstein, podcast host and executive producer, Pushkin Industries; former co-host, Planet Money podcast; and author of "Money: The True Story of a Made-Up Thing" Frank Lee Holt, professor emeritus of history, University of Houston; author of “When Money Talks” Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Support for Forum comes from Rancho La Puerta, a wellness resort in Baja, California, just an hour from San Diego.
0:07.6	Three, four, and seven-night summer packages include fitness classes, hiking, live music, mindfulness, and culinary adventures, featuring fruits and veggies straight off the vine.
0:18.9	Special rates and offers are available for summer stays and first-time guests.
0:23.8	Saver summer at Rancho LaPuerta.com.
0:28.3	Greetings, boomtown.
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0:44.6	From KQED in San Francisco, I'm Mina Kim.
1:04.2	Coming up on forum, The Penny.
1:06.2	See a penny, pick it up all day long, you'll have good luck!
1:10.6	They may still be as lucky as ever, but they cost more to produce than their worth.
1:15.0	The U.S. Mint reported losing more than $85 million last year making the coin.
1:20.2	Now President Trump has added his voice to previous bipartisan calls to stop minting it,
1:25.3	but it would be up to Congress to make change.
1:28.9	Is it time for the penny to go? Would you miss it? We look at the cultural and economic significance
1:34.2	of the coin right after this news.
2:02.4	Welcome to Forum. I'm Mina Kim. When I was a kid, I happily scoured the sidewalk for coins, including pennies. For one cent, I could get a single gummy bear at my convenience store in St. John's Newfoundland. So more pennies meant more gummy bears. Canada has since 2012 stopped making its penny after the cost of minting it
	...

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