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Penny is Worth Less Than Any Other Currency

News Flash: The Treasury Secretary Hates Pennies, Too

When asked on Friday about his opinion on the penny, Treasury Secretary Henry Paulson implied that it would make sense to eliminate the penny when he said, "The penny is worth less than any other currency." That is, if it were viable politically — he added that he doesn't intend on taking any action against the penny this year.
While there hasn't been serious talk of the penny's ultimate fate, last year there was a proposal introduced in Congress to change the metal content of all U.S. coins in order to save a dime. Officials said that taxpayers could save up to $100 million annually if the metal content in just the penny and the nickel were altered. I've never been one to shun the penny — I think it has something to do with its lucky-heads-up reputation — but there are plenty of people other than the Treasury Secretary who find the penny to be an annoyance.


Join The Conversation
cranegal107 cranegal107 6 years
I started a petition to abolish the penny and I need support. I am trying to get ten million people to sign. Will you sign and spread the word? :) Thank you for your time!
RosaDilia RosaDilia 9 years
Sorry guys I'm a penny lover. If you could only imagine how many pennies I pick up on a daily basis, pennies that "penny haters" just discard on the street. I've even taught my son to pick up any pennies he comes across and he keeps a penny jar for the street pennies. One time, no joke, I was food shopping and in the supermarket parking lot alone I collected about 20 pennies.
Megatron Megatron 9 years
Penny hater here. I think he should have clarified by saying U.S. currency. I heard a long time ago, the U.S. was trying to phase out pennies.
CoconutPie CoconutPie 9 years
In Finland they don't use the 0,01 and 0,02 Euro coins. They just round up the prices (ex.: 3,62 becomes 3,60 and 3,63 becomes 3,65) and their economy is doing just fine. I think it's a great idea.
nancita nancita 9 years
I can't help it. I hate pennies! They produce so much change, and since you can't buy anything for a penny, it seems silly to have such a small increment.
mandy_frost mandy_frost 9 years
We should get rid of the penny because "The penny is worth less than any other currency." This is the worst logic I've heard about anything in a long time! So, we'll get rid of the penny. Then, the nickel will go, then the dime, etc., etc. under this logic. No way! -a pro-penny saver
DreaAST DreaAST 9 years
I hate pennies but I do save them. They aren't completely worthless. They add up to be dollars!
SkinnyMarie SkinnyMarie 9 years
I don't think the penny is worthless. The should make a penny be worth a penny. Does any currency not have a one cent piece?
CaterpillarGirl CaterpillarGirl 9 years
I personally hate pennies, never use them. Didnt kevin federline come out last year in support of the penny?
syako syako 9 years
when he says worth less than any other currency, does he mean that no other currency in the world is worth less than a penny? That already is an inaccurate statement. In Ukraine 1 hrivna is worth about 20 cents, and then they have coins that are much smaller and worth less than a penny. 1 kopiyka coin is worth 1/100th of a Ukrainian hrvnia
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