Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Should we downsize the Lincoln cent?
>
Reply to Thread
Message:
<p>[QUOTE="Michael K, post: 3209350, member: 78298"]No. You're not getting it. It doesn't work like that.</p><p><br /></p><p>Let's say I have $100,000 worth of pennies.</p><p>Your innocent change now gives me $500,000. Thanks.</p><p>You say you are not changing $1 bills into fives, and $10 into $50's,</p><p>but that is what happens when you change my $100,000 into $500,000.</p><p>Because what if my $100,000 was in 1's or 10's instead of cents?</p><p>Now I have $500,000 because it was in cents. It doesn't work.</p><p><br /></p><p>The only thing to do is get rid of cent. Many threads here on that.</p><p>Canada did it, and it's fine. Round every thing off to .05 or .10.</p><p>Most transactions are electronic anyway, and those you don't have to round off. Current population of cents can still be used for many years. Despite the doomsday panic people who claim they will be hoarded and we will run out of cents immediately. Zinc cents that rot in your hand while you are waiting to spend them are pointless to hoard.[/QUOTE]</p><p><br /></p>
[QUOTE="Michael K, post: 3209350, member: 78298"]No. You're not getting it. It doesn't work like that. Let's say I have $100,000 worth of pennies. Your innocent change now gives me $500,000. Thanks. You say you are not changing $1 bills into fives, and $10 into $50's, but that is what happens when you change my $100,000 into $500,000. Because what if my $100,000 was in 1's or 10's instead of cents? Now I have $500,000 because it was in cents. It doesn't work. The only thing to do is get rid of cent. Many threads here on that. Canada did it, and it's fine. Round every thing off to .05 or .10. Most transactions are electronic anyway, and those you don't have to round off. Current population of cents can still be used for many years. Despite the doomsday panic people who claim they will be hoarded and we will run out of cents immediately. Zinc cents that rot in your hand while you are waiting to spend them are pointless to hoard.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Should we downsize the Lincoln cent?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...