WASHINGTON, D.C. — U.S. government don announce say dem go stop minting penny, as wetin dey happen for early next year. Di U.S. Treasury Department don talk say cash transactions for shops go dey rounded to di nearest five cents instead of di one-cent coin dat has become nearly useless.
Di penny once fit buy biscuit and candle back in di days, but inflation don make am worthless to di point say e dey cost more than four cents to produce just one coin. According to di Treasury, by di time we reach early next year, there go dey no more pennies for everywhere, and shops go need to start rounding cash payments.
Dis announcement come after years of debates wey don dey happen about wether make dem abolish di penny. Di rise of digital payments and e-commerce don also contributed to di matter. Many people wey dey observe dis trend don talk say di penny no gree work anymore, as most people no dey use cash like before.
To see wetin one penny fit buy today, one journalist take small trip around Marlton, New Jersey to check if he can buy anything wit it. He try buy fuel at a gas station but e find out say e go cost am four cents to fill even a tiny bit. Di attendant na good sport but di effort no yield anything as he expected.
Next, he try baits for fishing, but dem dey sell am in bulk for about $4.99, making e clear say penny no fit buy fish food either. Undeterred, e think say maybe fried rice fit work since Shop-Rite dey sell dem by di pound. But when he try buy one small spoonful, di self-checkout machine show 29 cents, leading him to ask di cashier for help.
Di cashier round am down to one cent when di news of di penny’s discontinuation come up. Dis tiny amount of rice na di only successful purchase wit di penny. Dis experience for food eiko show how much di weight of di one-cent coin don diminish.
E don dey clear say di penny don reach di end of im usefulness in modern America. Many economists believe dat getting rid of di penny go save America money in di long run and make life easier for businesses.
However, di fight no completely over. Groups like Americans for Common Cents dey campaign for di penny to remain, insisting say e dey help keep prices low for low-income families. Dem argue say rounding to di nearest nickel fit hurt low-income people who rely on cash.
As di transition occurs, businesses, governments, and customers go need to adapt, and e go be interesting to see how di u-turn on this long-standing currency practice go play out.
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