Should the US kill its cent?

Yes, kill off the cent and the paper dollar. I think the canadian model is very efficient. I am not opposed to continuing to mint the cent for collection purposes. For the coin dollar to catch on, I think it needs to be a little bit larger than the current model. There is too much confusion with the quarter being so close in size, but that is just my opinion.

 

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Resize the quarter.

People do not like big heavy coins, that is just the facts. All coins are just tokens anymore, so why are we keeping the same sizes dictated by silver prices 50 years ago?

Proposal:

New 5 cent coin same size as current cent copper colored, ten cent coprunickel same size, quarter size of "old" nickle but reeded, golden colored dollar coin like they make now, and 2 dollar bimetallic coin like Canada has.

Change them all at one time, just realizing in 20 years we will most likely have to drop the copper colored 5 cent piece.

 

Although this may seem like a smart idea, the logistics of changing multiple coin sizes doesn't seem possible. Talk about confusing, and the cost involved would be too steep. If changing the dollar's size doesn't work, maybe go to a new die blank. One that uses a octagonal coin style instead of round one for the dollar would be interesting.

 

I would think this country could handle ONE reorganization of their coinage in 155 years, considering most other nations do it much more regularly. Sure, some groups would throw a fit, and we would have to have politicians with some modicum of a backbone, which is probably why it even though it would be for the public good it will never get done.

 

This won't work. People would hoard cents to use as nickels and nickels to use as quarters in vending machines.

 

Of course it would work. Pretty much every contemporary vending machine relies on various factors when it comes to recognizing an inserted coin. There's size and weight but also conductivity and even some kind of relief recognition. Sure, machines that sell "cheap stuff" may not be that sophisticated, but the technology is there.

By the way, the very same Canada that has done or is doing away with the penny has introduced a "new generation" of $1 and $2 coins about a year ago. The UK went from Cu-Ni to nickel-plated steel for some denominations. It's doable. But what other countries do, cash wise, does not really have anything to do with what the US does ...

Christian

 

Yes, get rid of them. The dollar bill too.

 

I am a 1-cent collector up here in Canada, and I don't miss them. Some retailers here started rounding up or down a few months ago, the only people who may have cause for complaint will be my kids, since they pick up every scrap of money they find!!

 

The us mints will never stop the Lincoln cent, that's why the banks usually don't receive them anymore, you can only buy them from the mints, and they charge more then a penny a pieces ! just like the business strike presidential dollars ! :yes:

 

Over 6 BILLION pennies minted for circulation in 2012. All sold only to collectors?

 

you know whats going on rickmp, thats for sure !!!

 

All I ask of you is that you know something about the subject before writing about it.

 

the only real thing preventing the US from doing this is the 99cent store lobby. they are very powerful.

 

Count me as a Yes, I also think we should get ride of the dollar bill and Saturday delivery of mail, and have term limits. Looks like I might get one of the four, batting .250.

 

Then again, nobody would keep them from using x.y9 prices. You simply round the cash total up or down. At least that is how it works elsewhere.

Christian

 

I wish it was easier to detect sarcasm.

If this was meant as sarcasm, Rick is correct. I have a box of 2012 pennies right here at my desk that I bought at the bank. I tried to return it right there, but the teller said once I opened the box, that she would have to run them through the counter. I thought about it for a second and decided I didn't want them going back to my pick up bank, so I'm going to bring them to my dump bank.

Banks are definitely getting them. They are not just for sale to collectors through the Mint's web site.

 

It would actually be more useful to roll search pennies for the copper until they get all melted down.

 

You're moving the decimal point the wrong direction.

I'm glad someone else understands that you can't have two coins the same size with different values because you will have people passing the low value off as the higher one.

I don't believe the mint hasn't sold rolls or bags of cents since 2009.

 

Actually out here in CA it is the 99.99 cent only store.

 

If 100.00 would = 1000.00
Then .025 would = 0.25
Both have the decimal moved one place in the same direction.
So if your $100 now has the purchasing power of $1000, then your cent costing .025 would now cost 0.25

Move the decimal point as far as you want, and in any direction you want, and nothing changes except the number of zeros.