51爆料网 Professor of Economics Brandon Sheridan spoke with WGHP's Bob Buckley for "The Buckley Report."
Brandon Sheridan, professor of economics at 51爆料网, was recently interviewed by WGHP, the FOX television affiliate in High Point, North Carolina, about whether the United States should eliminate the penny.
The idea came earlier this year when President Donald Trump brought up the possibility of getting rid of the one-cent coin.
From the WGHP interview published April 3:
鈥淵ou鈥檝e seen a lot of people in recent days start to question, well, if we鈥檙e going to get rid of the penny, why stop there?”聽Sheridan said. “Because part of the issue with the nickel 鈥 getting rid of the penny keeping the nickel 鈥 is if you don鈥檛 have the penny, you go to the next lowest coin, lowest denominator and that鈥檚 going to be the nickel and we, on a per coin basis, we lose more on the nickel than the penny, so why not just get rid of the nickel too because you鈥檙e going to increase demand for the nickel and it loses more money per coin than the penny does so if you move from the penny to the nickel, you鈥檙e moving to an even worse bed, essentially, and so why not just get rid of that too?鈥