Penniless Literally!

And besides...How would we buy penny candies with out the penny?

 

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Don't know what you are referring to.

 

If we were to get rid of the penny, how would you pay for something that costs an odd amount?

 

This raises the price slightly on a lot of things. My state has a 6% sales tax, so I guess when something is purchased for $1.00 it will be rounded UP to $1.10. Personally, I don't have any problems with continuing the coin or the coin design. I like the precision in paying with exact change. The US Mint might make a few too many, but that is a problem of quantity and not a design flaw. I'd rather see Abe than the next poltically correct character they deem worthy of forcing upon us.

 

Bring back the 2 and 3 cent pieces! I think that there are both good and bad sides to this arguement, like it cost the US government so much to make them each year, but all of our sales tax will all be rounded up to the nearest 5 cent incriments. Not a huge deal, but over the course of a year, lets say you buy 500 items, you could end up paying an extra $15 in sales tax, not much money, but some people will act like it's the end of the world. I'm sure that the gov will eventually get rid of the penny, just like the 1/2 cent.

 

Should They Replace Lincoln

I Think It Is Time For The 100 Year Of Lincoln To Get His Deserved Retirement. It Would Be A Great Thing For The Numismatic Community. The Lincoln Cent Would Start Getting Some Collectors Value And Not Just The Oddities.

 

I Forgot To Mention. Keep The Cent And Use Ronald Reagan's Bust As The Mint Seems To Be Suggesting.

 

if they make a new one i would like it to be square/diamond shaped or one with "wavy" edges...just to change it up

 

Our politicians in washington spend more of our money on there raises and perks each year, freeze the pay raise, keep the cent.

 

Since the topic has come up, I have a question for you concerning your byline Roy. I know what you are trying to say, and as for the first portion of the line:

US$0.01 is one cent. There's no such thing as a United States "Penny".

I agree with you completely. But the second portion seems in error to me as I interpret that statement as going beyond government issues, to include even non-government issues, for there to be "no such thing". Many a Masonic Penny has been made in the United States (and locations within the US are often part of the design), and they indicate "Penny" right on them. I would call them a United States (Masonic) Penny. Not an "official" penny by any means, but still a form of a United States Penny.

An addition of a qualifier such as "government issued" within the second sentence would make it more correct IMO. No offense intended here Roy, and I hope none is taken. This is just something that has come to mind a number of times.

 

The penny(Cent) is still important simply for making change. I tend to agree with the idea that you reduce the mintage until you get use to life without the penny(Cent). The one thing I want to see is Abe make it to 100. Also, if you stop minting the penny(Cent), I think there are enough out there to last a while. On a related note, let's stop minting the half dollar and Dollar. If there not being used in everyday commerce, let's stop using them as an excuse to charge more for proof sets.

 

If people were charged a tax for actual costs of mining, minting, and minding the pennies every time they used them the tax would be more than triple the avaerage number of pennies involved in the transaction. Of course government can't do anything "centsibly" and the cost of instituting the tax would be high. Those who don't want to use pennies should be able to opt out so each time someone uses them he should be taxed about one dollar.

 

The use of the $0.99 instead of a round figure was a result of early marketing. They figured out that if people got a cent or two back was some kind of psychological thing on the part of the customer. But the cent was worth FAR more than the one is today.

If they went back to round prices, like $.00 instead of $0.99, people would adjust quickly. I think the cent should be retired just as the 1/2 cent coin, etc... were at the end of their usefulness. I think people are still psychologically against a dollar coin in the USA. People simply are not ready for them yet.

 

OK, the penny does make a good small, handy screwdriver. Just kidding.

 

I would also like to see Ronald Reagans bust on the cent. With a nice picture of the white house on the reverse.

 

the penny is the main thing i collect they should keep it

 

The penny makes a great collectible and it would hurt collectors if it were withdrawn because prices would increase as attention was drawn to the denomination and collectors sought to finish their sets. I admit I'd be one of the first to profit as well since it would be the memorial cents and especially the zincolns that had the largest increases in demand. But neither of these reasons is a good reason to keep it or abolish it. Coins are supposed to be made for the purpose of fascilitating commerce and this coin has not fullfilled this fuction in more than 25 years. It is a drain on the economy and as such is hardly even a coin anymore since it lost its function and doesn't really circulate.

It needs to go. They can make it for mint and proof sets until 2009 but it should not waste resources to sit in drawers and jars.

 

Retire the Penny

Great article here on this topic http://news.collectica.com/archives/352-Retire-the-Penny.html

 

IT'S A PENNYencil:NO IT'S A CENT CENT CENT

 

The word has its roots in the British coinage but the use of the term penny for our cent actually comes from the New York money of account where the New York penny was valued at 1/90th of a Spanish miled dollar. This made it the closest in value money in use in North America at the time the US Cent was legislated.

It would not have made sense to equate the cent with the British penny since it did not exist. The value of the cent was fairly close to the British HALF PENCE and not the penny, and the British had not even struck a penny coin for circulation for over 150 years, and the last one they did was a silver coin.