Who would do such a thing?

These people seem to think the penny is worthless, and unusable.

These people make me mad.


http://www.jeffmcbride.net/2008/08/24/time-to-get-rid-of-that-pesky-penny/

 

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If we got rid of the penny, I really doubt any businesses would round in favor of the customer.

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Heck, the way things are going, let's get rid of all the change. I never carry coin, it all goes in a jar.

 

I hope you're not serious....

 

They do cost more than 1 penny to make. I guess I am in the camp that says get rid of the penny and the dollar bill. Bring back dollar coins.

Failing that, can we change the metal of the penny and nickel so they don't cost so much to make?

 

We should move the decimal point over two places. The US government should pick a date and spring it on the world that the decimal point is being moved over two places on all bank accounts and financial instruments (loans, notes, mortgages, contracts, debts, etc.). Meaning, if you owed $300,000.00 on your house, you will now only owe $3,000.00. If you have $10,000.00 in the bank, it is now only $100.00. If your salary is $60,000.00, it just became $600.00. If you have a car loan or credit card balance of $15,000.00, now you only owe $150.00.

The currency and coins in your wallet or change jar remains the same, and can be used for its full face value.

Maybe this will be the time for backing the currency with gold and silver? Those $50.00 gold American Eagles and $1.00 silver American Eagles will then make sense for spending.

 

What did the merchants do when we eliminated the half cent? Now that it's gone, how has it affected your life? Both answers will apply to the penny as well.

 

Sorry I make you so upset about saving money since the US Mint spends nearly 2 cents to make every 1 cent and nearly 7 cents for every 5 cent coin produced.

I rarely use cents anymore and just figured that I was no different than anybody else. By that I mean, I buy my gasoline with my debit card, pay for my groceries with my debit card, pay my bills online (when I can) and when I do pay cash for something, I rarely give exact change and usually pay with the largest denomination bill in my possession. Cents that do get spent are usually just placed in the "Take One-Give One" tray or possibly the charity bucket without giving it a second thought.

I can't buy anything for one cent unless it's a pull on a penny slot machine and 99% of those take credit slips anyway.

The government has rounded my income taxes either up or down to the nearest dollar for the past 50 years and rounding a purchase up or down to the nearest nickel just doesn't matter to me anymore since the cent and nickel change goes in the dead change jar at home anyway.

On the other hand, if folks would be less concerned over their expensive conveniences anbd more concerned with how government could save money, perhaps "our" (and I use the term our intentionally because we elected these people) national deficit could actually be addressed?

Since this upsets you so much, I guess I'll stop suggesting ways to save $600,000,000 a year on frivolous expenditures and just jump in the "whine about government" bandwagon expecting them to figure out ways to balance the budget yet not have it affect me in anyway.

Yeah, that sounds like a good plan!

 

I'm with you. I like coins for the history and collection. But I hate carrying them around.
There is a move to not only get rid of the penny but also to get rid of the dollar bill. Both good ideas in my opinion.

 

I don't mind them, i collect them

 

The dime, quarter, half and dollar coins are all we really need, and we don't need the $1 or $2 note, either. Some people used to complain that the dollar coin (Ike) was too big and cumbersome to keep a reasonable supply in one's pocket, but now the half dollar is larger than the dollar AND NEITHER OF THEM ARE PRODUCED FOR CIRCULATION. I think Congress should institute a redesign of the four coins I mentioned, with size increased for value, and make all of them out of ALUMINUM.

Chris

 

Perhaps some perspective is needed here since 2 cents to make 1 cent seems a bit trivial.

In 2010, the US Mint produced 4,010,830,000 cents which equals 40,108,300 dollars.
So, at 2 cents for 1 cent, that figure equals $80,216,600 dollars spent to produce $40,108,300 worth or coins.

Does this even make economic sense or as individual American citizens do you prefer convenience and bankruptcy to economic responsibility?

 

Well good. As the coin gets eliminated then there will be millions of folks clamboring to collect them which would be great for the hoarders! If anything at all, collectors should be in favor of this.

 

I like the idea of revaluing the currency. It's nice to have a 1/100 coin. Maybe moving the decimal 2 places over is a lot, but how about 1 decimal place?

 

Oh! So the value of cents will go up!

 

I cant help but wonder how the nations we owe money to would feel about that?

 

I don't think the cent really has any use anymore. I think that eventually it will be gone and the sooner the better. I like it for collecting, but not for daily commerce. It's just a pain. I think we should reduce to 5, 10, 25 cent coins and $1 and $2 dollar coins and only have bills $5 and larger. Nobody uses 1 and 50 cent coins for $2 bills so lets get rid of them...and the $1 bill is a waste of money to produce (the coin is much cheaper in the long run).

Prices could easily be rounded to the nearest 5 cents both up and down, the difference would come out in the wash. It would have nothing to do with business owners either...it would have to do with sales tax (except here in Oregon where the is none).

Ultimately, I think physical money is on it's way out anyway. I'll bet in the not too distant future, everything will be done with cards.

 

And rare coins NOW will become ultra rare.

 

They would move it back. Easy come easy go.