Trump's claimed justification for ending the penny makes no sense at all

[Wiz Imp]

28. Most experts disagree with you including the Federal Reserve.

https://www.richmondfed.org/publications/research/economic_brief/2025/eb_25-27#:~:text=Ironically%2C%20eliminating%20the%20penny%20could%20increase%20demand,$1.75%20for%20every%20$1%20issued%20in%20nickels.

With the penny being retired, attention may soon turn to the nickel. Ironically, eliminating the penny could increase demand for nickels, which are even more costly to produce. In 2024, it cost 13.8 cents to mint a nickel — more than double its face value — resulting in a seigniorage loss of $1.75 for every $1 issued in nickels. The Treasury incurred a seigniorage loss of $17.7 million last year from minting 202 million new nickels, notably lower than the loss incurred by minting pennies. However, seigniorage losses in the two previous years — $78.0 million in 2022 and $92.6 million in 2023 — were much higher due to larger production.