COLLEGE STATION, Texas (KRHD) — An order by President Donald Trump will stop the production of pennies. The change in currency will impact our economy and a tradition at Texas A&M that Aggies do for good luck.
- A unique tradition at Texas A&M University could be in for some change after President Donald Trump's order to eliminate the penny.
- Pennies are a big part of the tradition at A&M's Sul Ross statue, better known as "Sully", as students place a penny on the statue for good luck before exams.
- With the future of the "Sully" tradition uncertain, Manuel Ramirez, a Research Associate & Former A&M Student, tells 15 ABC that maybe we'll start to see gift cards and more creative things placed on the statue.
- Everything placed there goes to a local charitable organization.
BROADCAST TRANSCRIPT:
One less coin in your pocket.
"In the 1850s we stopped making the half cent, and I think that this would be very similar to that," Thomas Cavaness, a numismatist at David's Jewelry & Coin Exchange said.
One less penny on the "Sully" statue.
"Maybe the number of pennies will be decreasing, but, you know, maybe Ags will start putting nickels and dimes and quarters, you know, on the foot of 'Sully'," Manuel Ramirez, a Research Associate & Former A&M Student, said.
The tradition dates back to Sul Ross, the former president of the A&M College of Texas— who would help students with their homework.
In return, he would say, "A penny for your thoughts."
Students today place a penny on the statue for good luck before exams.
"Those pennies might become like a little bit more precious now, so maybe they'll hold on to them just, you know, for "Sully" over here," said Ramirez.
For our economy, it costs almost four cents to make a penny and almost 14 cents to make a nickel.
"It's been about 170 years since we've last updated our currency in what circulates," said Cavaness. "I think it's past time, with inflation the way that it has been over that time, to modernize it."
For our neighbors, we'll see it at checkout.
"There's many prices that are listed out there that are $1.99 or end with 99 cents," Raymond Robertson of the Bush School at Texas A&M said. "This price, these prices will now be rounded up to the nearest dollar, which means that most customers will end up paying one penny more than they were before, which in effect raises prices for consumers."
Cavaness shared more of what we could see.
15 ABC asked Cavaness if this is just the start of some changing currency moving forward.
"Not only do I think that getting rid of the cent and the nickel is a good idea, I think adding larger denominations and bills like a $500 bill and a $1000 bill makes sense."
