In the February/March 2025 issue of COINage, my column asked the rhetorical question, “Do ‘Pennies’ Make Sense?” I concluded that in the United States they do not. U.S. President Donald Trump posted his own statement on social media about cents and, without making mention of my column, expressed the same views as mine.
Now, what about the nickel and paper dollar? Not so fast! While there are solid financial reasons to eliminate both of these, I believe we need to take a stairstep approach.
Canada eliminated its penny and replaced its paper dollar with a coin. Anecdotally, Canadians I have spoken with told me it has worked well. But in this column, I want to address the nickel, or five-cent piece, which, in the future, should be the next U.S.…