4min chapter

The Investopedia Express with Caleb Silver cover image

The Upcoming Showdown at the Fed, and Making Cents out of Eliminating the Penny

The Investopedia Express with Caleb Silver

CHAPTER

The Case for Eliminating the Penny: Economic Implications and Historical Context

This chapter explores the debate surrounding the future of the penny, focusing on its rising production costs and declining use in cash transactions. It discusses the implications of potentially eliminating the coin, drawing comparisons to Canada's previous decision to remove the penny and its economic effects.

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