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Would this compromise work for the "Eliminate the Penny" Debate?
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<p>[QUOTE="C Jay, post: 2637194, member: 13184"]I'm a big fan of moving the decimal point. A can drink that cost a dollar now cost a dime. The average house price becomes $25,000.00 but you're now making 10% of what you use to. A penny would have a purchasing power of a dime and a nickle would have the purchasing power of a half dollar. </p><p><br /></p><p>This solves the disparity between the cost of metal in a one and five cent piece and the purchasing power of the coin since the coin would hold 10 times it's current purchasing power. This would also mean that mintage would only need to be 10% of the current level and the same goes with paper money. The long term saving would out weigh the initial boom of the increased value of circulating currency.</p><p><br /></p><p>Of course this would take a financial disaster and act of congress before anyone would go there mainly because most people won't get it.[/QUOTE]</p><p><br /></p>
[QUOTE="C Jay, post: 2637194, member: 13184"]I'm a big fan of moving the decimal point. A can drink that cost a dollar now cost a dime. The average house price becomes $25,000.00 but you're now making 10% of what you use to. A penny would have a purchasing power of a dime and a nickle would have the purchasing power of a half dollar. This solves the disparity between the cost of metal in a one and five cent piece and the purchasing power of the coin since the coin would hold 10 times it's current purchasing power. This would also mean that mintage would only need to be 10% of the current level and the same goes with paper money. The long term saving would out weigh the initial boom of the increased value of circulating currency. Of course this would take a financial disaster and act of congress before anyone would go there mainly because most people won't get it.[/QUOTE]
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Would this compromise work for the "Eliminate the Penny" Debate?
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