Has anyone heard that there will be no more pennies??

Answer 1

Yes, this is because the cost of manufactuing pennies exceeds their face vaule.

Answer 2

That rumor has been going around for a long time. The penny is not an endangered species yet. The complaint has been that it cost the government about 1 1/2 cent to make a penny, so they just keep reducing the amount of copper in it and use more zinc base metal to offset the minting cost. Back during WWII, some pennies were made out of 100% zinc to conserve the copper for the war effort; they called them a steel penny, but they were actually all zinc.

The penny will be around for some time to come.

Answer 3

It costs 1.4 cents to manufacture a penny. That's why some people think we should get rid of them.

However, it's very unlikely that people would want the prices of things to change in increments of 10 cents, isn't it? That would mean the prices at the grocery store would jump up and down a dime at the time. Pretty inconvenient for everyone. It would make it difficult for retailers to compete, because their price would either be the same as other stores or a dime different.

Answer 4

There're not going to stop making pennies but people don't use them often enough so the pennies are becomming outdated and extinct. Eventually, people will just stop using them and then the government will stop making them but not yet. Besides, Kevin Federline (Britney Spear's husband) has a project he's working on that's called "Save the Pennies" or something like that.

Answer 5

Yes, they're gonna stop making pennies. All merchandise in stores will be rounded off to the nearest nickel.
Bad news huh?
Better save the pennies. They will be worht something some day.

Answer 6

Sometimes there is talk about getting rid of pennies, but it'll never happen. It came up just recently again in the U.S. House, and is unresolved; but nothing will come of it.

Personally, I think they should get rid of the penny and dump the sales tax.

Answer 7

THAT is still a rumor

they are considering doing this because it is costing the government more to make a penny than it is worth

the government actually makes money off making money!
LOL
the materials in certain coins have increased in cost making it unwise from them to continue to produce them

Answer 8

There will always be pennies. I have a huge water jug full of pennies and I will use them just to tick people off.

Answer 9

Yes. I can only guess it's because people hoard pennies,
and it costs to much to keep them in circulation.
Money is made to circulate. And greedy people who hoard thier money. Do damage to the money system.

Answer 10

I believe I read an article recently about how they should be phased out. Can't say I have any complaints. Poor Abe Lincoln, they should put him on a new coin!