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Trump "fixed" the penny probem but now we have a nickel problem
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<p>[QUOTE="Troodon, post: 26082294, member: 4626"]Wouldn't be that much weirder than a 20 cent piece I guess. But the math on how to figure out how to give change with the thing...</p><p><br /></p><p>Maybe we should just get rid of nickels too and round all cash transactions to the nearest dime. But then you'd have weird combinations with the quarters...</p><p><br /></p><p>OK, get rid of the penny, get rid of the nickel, get rid of the quarter, and bring back the 20 cent piece.</p><p><br /></p><p>Well maybe not. I like my original idea, get rid of the penny, make the nickel out of something cheaper, then just round cash transactions to the nearest nickel.</p><p><br /></p><p>I should point out something I mentioned before that we're only going to stop minting pennies; the pennies that already exist aren't being recalled, and aren't losing their legal tender status. People can still take them to banks, or give them to retailers still willing to accept them; that's the way Canada did it too when they did the same thing 12 years ago. And it's worked out just fine for them; all the things people feared getting rid of the penny would do, did not come to pass. It didn't result in a significant loss to either side of retail transactions, and didn't cause inflation or a significant difference in consumer behavior. And it didn't cause the Canadian Mint to have to make a bunch more nickels.</p><p><br /></p><p>I don't know, it's easy to say we should get rid of the coins that cost more than their face value to mint but then you have to deal with a system that's gotten used to them being around, and hoping consumer and retail behavior catches up.</p><p><br /></p><p>But you have to rip off the band-aid sometime. Start with the penny and we'll figure it out from there.</p><p><br /></p><p>All this while cash is being used less and less anyway lol. I think it will all work out fine in the long run.</p><p><br /></p><p>And I'm not worried we'll run out of coins to collect. There's still plenty out there and they're making more all the time.[/QUOTE]</p><p><br /></p>
[QUOTE="Troodon, post: 26082294, member: 4626"]Wouldn't be that much weirder than a 20 cent piece I guess. But the math on how to figure out how to give change with the thing... Maybe we should just get rid of nickels too and round all cash transactions to the nearest dime. But then you'd have weird combinations with the quarters... OK, get rid of the penny, get rid of the nickel, get rid of the quarter, and bring back the 20 cent piece. Well maybe not. I like my original idea, get rid of the penny, make the nickel out of something cheaper, then just round cash transactions to the nearest nickel. I should point out something I mentioned before that we're only going to stop minting pennies; the pennies that already exist aren't being recalled, and aren't losing their legal tender status. People can still take them to banks, or give them to retailers still willing to accept them; that's the way Canada did it too when they did the same thing 12 years ago. And it's worked out just fine for them; all the things people feared getting rid of the penny would do, did not come to pass. It didn't result in a significant loss to either side of retail transactions, and didn't cause inflation or a significant difference in consumer behavior. And it didn't cause the Canadian Mint to have to make a bunch more nickels. I don't know, it's easy to say we should get rid of the coins that cost more than their face value to mint but then you have to deal with a system that's gotten used to them being around, and hoping consumer and retail behavior catches up. But you have to rip off the band-aid sometime. Start with the penny and we'll figure it out from there. All this while cash is being used less and less anyway lol. I think it will all work out fine in the long run. And I'm not worried we'll run out of coins to collect. There's still plenty out there and they're making more all the time.[/QUOTE]
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Trump "fixed" the penny probem but now we have a nickel problem
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