Poll: Should the United States government eliminate the penny? - Page 4

abe · 10-20-2009, 08:21 AM

Quote:

Originally Posted by SirCharlie

I vote no to completely getting rid of it, but perhaps it would have been a good time to end the Lincoln series on the 100 year anniversary, and perhaps even better yet, end it on the same note it began by mint very few 2009 s-vdb coins like the 1909 s-vdb, and not tell anybody until they were out and discovered. That way would give everybody a chance to get out there and find them, and nobody could hoard the 2009 rarities. Surprise!

Thats exactly what should've happened to this series. well said:

RUFUSREDDOG · 10-20-2009, 08:53 AM

When the Single cents goes away so will the concept of the single cent.

The nickel will follow soon after.

All spending will be though of "to the next tenth".

But the subversion has already begun. Just look at your computer keyboard folks. Anybody got one with a "Cent" icon on it?

mikenoodle · 10-24-2009, 02:50 AM

Sorry for chiming in one these 2 posts so late but...

Quote:

Originally Posted by RUFUSREDDOG

Just look at your computer keyboard folks. Anybody got one with a "Cent" icon on it?

I do. It looks like this: ¢

and I can do it over and over again:

¢ ¢ ¢

and...

Quote:

Originally Posted by SirCharlie

...better yet, end it on the same note it began by mint very few 2009 s-vdb coins like the 1909 s-vdb, and not tell anybody until they were out and discovered. That way would give everybody a chance to get out there and find them, and nobody could hoard the 2009 rarities. Surprise!

maybe they're doing that and nobody knows yet....shhhhhh!!!!!

yakpoo · 10-24-2009, 03:20 AM

Quote:

Originally Posted by mikenoodle

I do. It looks like this: ¢

and I can do it over and over again:

¢ ¢ ¢

WOW...that pizzed me off enough to look it up!

Thanks! ...¢¢¢¢¢☺

I change my vote...now that I know how to make the ¢ symbol, we might as well keep it for a while.

DoK U Mint · 10-24-2009, 06:25 PM

Quote:

Originally Posted by yakpoo

WOW...that pizzed me off enough to look it up!

Thanks! ...¢¢¢¢¢☺

I change my vote...now that I know how to make the ¢ symbol, we might as well keep it for a while.

I think my Commadore 64 still had one. Do I need to get a new computer again that still has "Cent" on it?

¢¢¢¢¢

CamaroDMD · 10-24-2009, 06:38 PM

Quote:

Originally Posted by DoK U Mint

I think my Commadore 64 still had one. Do I need to get a new computer again that still has "Cent" on it?

¢¢¢¢¢

Wow, I had forgotten that computers even had those in the past. Although, I do know the command for it is Alt 0162

scottishmoney · 10-20-2009, 09:45 AM

The fascinating paradox of the cents now is that they are worth considerably less than the half cent coins were when they were eliminated in 1857. In fact, cents today are worth less in purchasing value than mill denominated tax tokens of the 1930s and 1940s.

Actually the lowest coin denomination that has some relative value really is the dime. Even nickels lately have cost more than they are worth to produce.

justafarmer · 10-20-2009, 09:45 AM

I thought the United States did away with the penny over 200 hundred years ago back in 1776.

Seriously though - I find it strange so many people advocate returning to a PM based currency in one breath - then advocates eliminating the two coins (cent & 5 cent) whose metal content value is almost par to its stated value.

mrz1988 · 10-20-2009, 01:17 PM

Quote:

Originally Posted by justafarmer

Seriously though - I find it strange so many people advocate returning to a PM based currency in one breath - then advocates eliminating the two coins (cent & 5 cent) whose metal content value is almost par to its stated value.

Yes! it would be so nice if our money were actually worth what we pay for it. Its a shame the fluctuating metal markets make it impossible, if copper goes up and nickel goes down suddenly five pennies are more valuable than a nickel and problems start happening.

If we get rid of the penny I vote we get rid of the $1 note too. I want change that I can spend regularly for once, and if we have to resort to using dollar coins because of inflation I want on that boat. It would make coinage a big hit again imo.

WhereEaglesDare · 10-20-2009, 06:24 PM

Quote:

Originally Posted by mrz1988

Yes! it would be so nice if our money were actually worth what we pay for it. Its a shame the fluctuating metal markets make it impossible, if copper goes up and nickel goes down suddenly five pennies are more valuable than a nickel and problems start happening.

Silver and Gold Standard anyone?!

A dime could be a dollar and so on. When a currency (in history) is backed by tangible assets the economy runs so much better, especially with less government control of the economy, but the later defeats the first today.

900fine · 10-21-2009, 12:47 PM

Quote:

Originally Posted by WhereEaglesDare

When a currency (in history) is backed by tangible assets the economy runs so much better...

In 1929, our currency was backed by tangible assets. We were on a gold standard. And yet... el crasho.

I'm told there isn't enough gold in the world to keep pace with expanding economies.

WhereEaglesDare · 10-21-2009, 06:09 PM

Quote:

Originally Posted by 900fine

In 1929, our currency was backed by tangible assets. We were on a gold standard. And yet... el crasho.

I'm told there isn't enough gold in the world to keep pace with expanding economies.

If you read your history you will see that it was Hoover's economic policy that created the depression and it was FDR's polcies that prolonged the depression. This has nothing to do with the silver standard.

CamaroDMD · 10-22-2009, 01:21 AM

Quote:

Originally Posted by WhereEaglesDare

Silver and Gold Standard anyone?!

A dime could be a dollar and so on. When a currency (in history) is backed by tangible assets the economy runs so much better, especially with less government control of the economy, but the later defeats the first today.

Yes, that worked so well last time we tried it.

As far as the cent, I think it's time to get rid of it. Inflation has made it worthless and continually minting it is a waste of money. I know this presents a problem when calculating sales tax...but I'm sure that could easily be rounded to five cents with no noticeable loss to the consumer.

Lugia · 10-28-2009, 01:36 AM

let me just start out by saying instead of getting rid of what is known as the penny how about you get rid of the nickel and make lincoln the new 5 cent piece. honestly tho both of them we should be rid of. personally i think they get uglier every year and those quarters which theyre minting and melting anyways GAH!!!

Quote:

Originally Posted by WhereEaglesDare

Silver and Gold Standard anyone?!

A dime could be a dollar and so on. When a currency (in history) is backed by tangible assets the economy runs so much better, especially with less government control of the economy, but the later defeats the first today.

mmm. ive heard multiple sources say that to back a gold standard it would have to go 800% higher then it is now ($10xx/oz.) and i dont know what could ever really make that happen anyway since the federal reserve isnt owned by the government.

yakpoo · 10-21-2009, 06:32 PM

Quote:

Originally Posted by mrz1988

Yes! it would be so nice if our money were actually worth what we pay for it. Its a shame the fluctuating metal markets make it impossible, if copper goes up and nickel goes down suddenly five pennies are more valuable than a nickel and problems start happening.

If we get rid of the penny I vote we get rid of the $1 note too. I want change that I can spend regularly for once, and if we have to resort to using dollar coins because of inflation I want on that boat. It would make coinage a big hit again imo.

Right on, Brother!

Meaningful coinage makes for more interesting coin collecting...(imho).

Welcome to Coin Talk! Register Now, it's easy and FREE!