John Oliver makes a pretty persuasive case for killing the penny


West Wing fans may remember the episode where a congressman convinced presidential aide Sam Seaborn (Rob Lowe) of the wisdom of scrapping the penny. John Oliver picked up the baton on Sunday's Last Week Tonight, starting by noting that the U.S. Mint makes about eight billion pennies a year, at a cost of 1.7 cents per penny. "That really makes the phrase 'You have to spend money to make money' ring painfully true," he said. The only real uses for pennies, he added, are throwing them in a pond to make a (very small, at current value) wish, or to pay a fine with them out of pure spite.
So why does the U.S. still have pennies, when many other developed countries have already done away with them? You may not be surprised to learn that there is a penny lobby, backed by the zinc industry; Lincoln enthusiasts also are loath to part with the (all-but-worthless) coin that bears his visage. But it's not just that the U.S. spends $136 million every year to make $80 million worth of a currency some Americans literally throw away. For Oliver, this seems personal. "Come on, let's dump the penny," he argued. "Not because we need to, not because it will change a great deal, but because there are certain things we know are impossible to get rid of — terrorism, herpes, Guy Fieri — but the penny is a nuisance we can actually do something about." Not convinced? Watch below. Peter Weber
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
'Wonder drug': the potential health benefits of creatine
The Explainer Popular fitness supplement shows promise in easing symptoms of everything from depression to menopause and could even help prevent Alzheimer's
-
What's next for Elon Musk?
Today's Big Question The world's richest man has become 'disillusioned' with politics – but returning to his tech empire presents its own challenges
-
Quiz of The Week: 24 – 30 May
Have you been paying attention to The Week's news?
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect