Should the US kill its cent?

The mint is still selling rolls of 2010 cents.

 

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I made that same comment to my Father as we hiked up Tuckerman's Ravine (NH) in 1972. I remember it like it was yesterday. Inflation was rampant and we were under President Nixon's wage/price controls. My Father graduated from University of Michigan and had an MBA from University of Chicago. George P. Shultz was his economics professor at Chicago.

We were nearing the top of the ravine when I blurted out my "shift the decimal point to the left" theory. My Father told me I was an idiot and I had a lot more to learn before expressing such nonsense out loud.

Little else was said the rest of the day.

 

Yes get rid of them and the nickels.

 

The place I eat lunch has set their pricing so that with sales tax, the only coins the give out are quarters. It doesn't matter what combination of food and drinks you get. Maybe this is the wave of the future.

 

Keep the penny, make it worth 2 cents.

 

Yakpoo, Ouch. Studied under George Shultz, University of Chicago, really, George Shultz........... I quess I'll be quiet now........:whistle:

 

You can't have your cake and eat it, too.
Now you have $1 cokes and you want 10 cent cokes.
If you make $1,000 per week, it'll have to change to $100.
Have you gained anything?

 

Rickmp, No you haven't gained anything in the long haul. That's the point, only the value of the currency has changed to make up for so many decades of inflation. We coin collectors get a nice bonus, and anyone else holding coins. The amount of coins minted and notes printed will be reduced to make up for their increased value. In respect to yakpoo and his father, I'm sure there are pitfalls I have not considered, but that's what these forums are about.