A change is coming to your change.

As seen in The Oakland Press

November 30th, 2025

A change is coming to

your change.

by Ken Morris

Our national debt now exceeds $38 trillion. But today, I want to focus on pennies. If we paid that debt in pennies, it would take 38 trillion times 100 of them (14 zeros). That’s a number barely comprehendible and a whole lot of copper. Seriously though, there’s a reason why we have such an enormous debt. Rather than tackle difficult issues, Uncle Sam simply throws money at them.

According to a U.S. Mint report to Congress, nearly 3.2 million pennies were produced in 2024. That would certainly indicate a need for pennies. Unfortunately, the mint lost $85.3 million producing them. That’s because it costs $3.69 to make one cent. As a result, the coin with Abe Lincoln on it has recently been discontinued. We now have just four coins in production that portray a U.S. President. Thomas Jefferson on the nickel. Franklin Roosevelt on the dime. George Washington on the quarter. And John F. Kennedy on the half dollar.

I’m not certain where all this will ultimately end up, because it costs 13.78 cents to make a nickel. Will it soon be discontinued as well? Being a proponent of math, I can almost understand rounding up or down to the nearest five cents. But if there are no nickels, will we be forced to round up and down to the nearest ten cents? How far can it go?

The penny isn’t going to just disappear. There are already an estimated 250 billion in circulation. With our population estimated to be just shy of 350 million, it means there are about 1,400 pennies for every person in America. Sounds like enough.

I think it’s safe to say, ultimately, that the penny is a casualty of inflation. And I believe it’s unfortunate to lose the precision it provides. For many businesses, the margin between success and failure is razor thin. A few pennies here and there can be the difference between keeping the doors open and closing up shop.

I’m not suggesting that Uncle Sam should continue producing pennies at a financial loss. But I don’t want people to consider them totally useless either. For example, take those Salvation Army Holiday bell ringers. That jarful of useless pennies in your house, added to the jars at your neighbors down the block and across the street, can make a significant impact on a family in need. Especially if there’s a little silver mixed in.

Benjamin Franklin famously said, “A penny saved is a penny earned.” Of course, a penny had significantly more purchasing power back then, but the message is still valid today. Consider that people will wait in long lines to save a few pennies per gallon of gas. Even with penny production being discontinued, I think it’s important to keep Ben’s words in mind, whether it’s spending or saving.

My friends and regular readers know that my first book, “A Thought for Your Pennies,” was released during the Covid pandemic. Despite the poor timing, it has done relatively well. In 2026, I anticipate the release of my next book, “Where Have All the Pennies Gone?”

It will be a collection of some of my favorite post-pandemic articles. Chock full of thoughts and suggestions to help you get the most out of your money. It’s light and informative reading, whether you’re still in the workforce or already retired. More info to come.