APPLETON (NBC 26) — Former President Donald Trump took to social media Sunday night to call for an end to penny production, describing it as “wasteful.” The U.S. Mint reported losses of over $85 million last year on penny production, reigniting the long-standing debate over whether the one-cent coin should be phased out.
- Former President Donald Trump called for eliminating the penny, citing wasteful production costs, as the U.S. Mint lost over $85 million on pennies last year.
- Appleton residents are split on the issue, with ACOCA Café line cook Johnny Powderly arguing that pennies still help cash-reliant customers.
- Coin expert Michelle Voecks-Griesbach believes the penny is outdated, noting that it costs more to produce than it’s worth and cannot be legally melted down.
(The following is a transcription of the full broadcast story)
In the Fox Valley, opinions are divided.
Johnny Powderly, a line cook at ACOCA Café and Roastery, believes pennies still serve an important purpose, particularly for customers who rely on cash transactions.
“We have a lot of local people who might not have a credit card or a debit card,” Powderly said. “Maybe it falls on hard times for them, but that’s none of our business. We just want to make sure they can pay.”
However, others, like third-generation coin and jewelry expert Michelle Voecks-Griesbach, argue that pennies have outlived their usefulness.
“As of last year, the Mint was continuing to say, ‘We are going to continue to make them,’ even though it does…seem rather stupid for them to do so,” said Voecks-Griesbach, who manages Fox Valley Coin and Diamonds in Kimberly. “Because the cost of manufacturing is more than the face value of the item.”
Voecks-Griesbach also notes that unlike gold or silver coins, pennies cannot be melted down for their materials, making them difficult to repurpose.
“It’s a federal offense to destroy a penny,” she said.
For some, the debate over the penny is not a pressing concern. Appleton resident Kristine said she only uses pennies when paying in cash but otherwise doesn’t think much about them.
“I’m entirely indifferent,” she said. “I feel like that’s the least of my concerns.”
While Trump has expressed his desire to eliminate the penny, the decision ultimately rests with Congress, as coin size and metal content are dictated by federal law.
