What if they discontinue pennies?

Amber........preserve them in amber. Like old mosquito's..........

 

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Canada has done away with the 1 cent coin (rounding transactions to the nearest 5 cents) and will soon scrap the 5 cent coin (rounding transactions to the nearest 10 cents). In addition to that, Canada no longer issues $1 or $2 paper bills, having replaced those denominations with metallic coinage over a decade ago. The European Union still have 1, 2 and 5 cent coins (1.2, 2.4 and 6 US cent equivalent) but Finland and Belgium have eliminated the 1 and 2 cent coins (rounding transactions to the nearest 5 cents) and other nations may follow soon. The EU also eliminated the paper 1 and 2 Euro bills, replacing them with metallic coins.
They use the more logical 1-2-5 ratios for their monies; 1, 2, 5, 10, 20 and 50 cent and 1 and 2 euro coins, plus 5, 10, 20, 50, 100, 200 and 500 Euro notes.

If the rest of the world can survive this why can't we?

 

Lobbyists......

 

The rest of the world uses the metric system.

 

Psh. There are only two kinds of countries; those that use the metric system, and those who have been to the moon.


Although I guess NASA probably uses the metric system too lol

 

Oh my, I would miss the lovely beaver nickel - one of my favorite modern circulating coins.

But apparently some think it will happen: Canada will scrap the nickel within 5 years, Desjardins predicts

Will nickel follow penny out of Canadian coin circulation?

Interestingly, the first article also suggests that the new polymer bills make switching to a $5 coin less necessary. I guess we'll see.

 

Very interesting opinions...I was hoping for a brighter future for my measly roll searching collection... But I'll keep looking, it's fun for my mind to dream...Ha ha..I just noticed my Icon says "No Mood" and that's exactly me...I'm in no mood for just about anything anymore.

 

the “guvmint” loses money making both cents and nickels. this is called
negative seniorage. They should quite making both these coins and then the
dime would in effect become the new cent. the cent and nickel could still
be made each year for collectors only to include in the collections.

 

In the Netherlands and (I think) Ireland the 1 and 2 cent coins are not really used either. They are legal tender, but as cash totals are rounded, there is no need for them.

FWIW, we never had €1 and €2 notes, so there was no need to replace them. And the paper money setup will soon be even easier to keep in mind: Since the €500 is not part of the Second Generation notes, you'll just have 5-10-20 and 50-100-200.

Cannot really imagine that the US cent coin would be phased out though. Guess that manufacturers are interested in making them, and it seems that quite a few customers would feel "cheated" even though rounding is applied (both up and down) to cash totals only.

Christian

 

We would still have Abe on the $5 bill.

 

I can say one thing I have a bunch of Loonies and Toonies that are getting very nicely toned. No milk spots there BABY!!

 

Does anyone know if the President (via the Treasury Secretary) can decide to discontinue cents or must it be congress? The same question goes for paper dollars???

 

I wasted a lot of time in school half a century ago of being force fed metric conversions. Supposedly, the US was going "to become like everyone else"

Let the "rest of the world" go hang itself and stay hung on this subject.

 

Yes, that's true, but the losses from the cent and the nickel are more than made up for by the profits from the dime, quarter and other releases. In the end the mint makes some $500 million a year in profit (at least, according to the Denver Mint tour guide). And yes, they could potentially make more without the loser denominations. Nonetheless, they need Congress to tell them to stop making the cent and/or the nickel, but since the Mint makes so much profit, it appears the motivation for change isn't exactly fervent for the time being. Hence the seemingly impermeable impasse.

 

Heaven forbid. Oh well, as long as the US does not try and make those old units "global standards", I am fine with whatever you guys use. It's just surprising how you can deal with 1 dollar being precisely 100 cents, instead of something un-round.

Christian

 

Now, yes, but all hasn't been smooth sailing...

https://mars.nasa.gov/msp98/news/mco990930.html

 

Isnt that the one they just found orbiting the moon?

 

I do believe this one disintegrated in Mars' atmosphere, but what's this about something found orbiting the moon? I hadn't heard anything about this before now.

 

The world has gotten along just fine with the two systems. It would cost one system or the other too much money to justify the cost of changing.

 

Al

It all came down to dollars and cents and sense. The dollar coin outlasts paper waaaaay longer. Now without the penny it is rounded up or down, it has saved about 10 million a year. So Trudeau can take another vacation or invite more people across the border. lol Penny values have not made a big change because of it either.