Should the U.S. dump the Penny?
- Thread starter tyeeslayer
- Start date
You don't eat pennies. You're not supposed to use them as fuses. They function as durable currency. It's illegal to scrap them. So how relevant is the cost to produce them? The real cost is the cost to replace them after a few decades - which is something the US Treasury deals with. What are the hidden costs, if any, of the loss of precision in cash transactions? Will rounding up be a form of inflation?
SuperjazzyJa
18 Wheel Member
After giving the subject some more thought, I changed my vote to yes. Matter o' fact, let's get rid of change altogether. Seriously, it's 2017 and with prices of things being what they are, do we really need fractions of dollars? It made sense to have cents in the1850s. Now, not so much. It's the same kind of stupidity as listing fuel prices as $2.49 followed by a little 9. The price is $2.50 per gallon. Show it as such. If I fill the green hornet from empty (100 gallon tank), I save a dime? Ain't that great? If I fill up from empty 11 times, I can get a small coffee! The generosity is almost whelming. So, why not just have everything in whole dollar amounts.
teal'c
Nuclear Cardiac Parent
SuperjazzyJa
18 Wheel Member
Not to mention, a pair of loafers cost more than a penny.
SuperjazzyJa
18 Wheel Member
Hand them bread and smile as you say, "Get the pun?"
Quadman2
Lunatic Member
Why not go the way of the Swedes, and get rid of CASH altogether! Their currency world is pretty well plastic and no need of coins.
Q
Heck, hand them cake!
musichal
poet emeritus
Back when it was possible - not too long ago - I'd scoop a penny off the floor. One ain't worth much, but if the nearest football field were covered in them... Now stuff has to be a good deal thicker than a penny for me to reach it, so go ahead and stop making them if you want. By the year 2125 there will be trays beside cash registers with a sign reading "Leave a dollar, take a dollar."
Raccoon1400
Super Member
I don't miss the pennies here.
They round 2 cents down, and 3 cents up to 5. So you can get two cents of free gas if you are accurate with the pump!
When they first got rid of the penny, Loblaws (grocery store) rounded everything down, never up, but they stopped doing that.
I like the $1 and $2 coins. I have a wallet with a place for coins (and resistors, guitar picks, etc). Couldn't function without it.
The world didn't end in 2012, but my penny collection did!
They round 2 cents down, and 3 cents up to 5. So you can get two cents of free gas if you are accurate with the pump!
When they first got rid of the penny, Loblaws (grocery store) rounded everything down, never up, but they stopped doing that.
I like the $1 and $2 coins. I have a wallet with a place for coins (and resistors, guitar picks, etc). Couldn't function without it.
The world didn't end in 2012, but my penny collection did!
Let's get rid of all the coins...instead of rounding up to the next dollar, we'll round down to the last dollar.
I should run for president.
Funny I was thinking the same thing
Do you think Big EC would make a good president?
Actually i was thinking i should run for president
No knock on EC
No knock on EC
