TomG
TomG
Joined: Sep 26, 2010
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August 17th, 2016 at 7:44:42 PM permalink
Wikipedia says there is a debate on the issue: https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States. There should be no debate. Every point in favor of the debate is BS. If the nickel is the smallest coin (should really be the dime) there would be absolutely no rounding tax: prices that currently end in .x1, .x2, .x6, and .x7 would round down, those that end in .x3, .x4, .x8, and .x9 would round up. The fixed cost argument is a blatant lie. Pennies and nickels are both made at a loss. The theory of hurting the poor because they use cash more often is completely backwards. It would help the poor the most. The people who use cash the most are the ones who would be helped the most by not having to bother with such nearly worthless discs

There is absolutely no rational reason for the penny to be used any more. It needs to be eliminated. The nickel too. It is silly to break the dollar into hundredths. There should be three coins used: one-tenth of a dollar, one-half of a dollar, and a dollar coin. And there should be no more than four paper bills being used ($5, $20, $100 and $500). Most of us would be better off and none of us would be worse off. If a bill comes to $17.02 I don't want to have to carry around a bunch of trivial trinkets, nor do I want to negotiate the seller taking off an insignificant amount. The irony is that by keeping the worthless coins going out of a sense of tradition we are pushing ourselves to a cashless society much faster because no one wants to deal with the most wasteful crap that comes with it.
GWAE
GWAE
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August 17th, 2016 at 8:03:21 PM permalink
I absolutely hate how canada has a 1 and 2 dollar coin. Get rid of the penny but don't replace it with more coins.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
MB
MB
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August 17th, 2016 at 8:28:29 PM permalink
Quote: GWAE

I absolutely hate how canada has a 1 and 2 dollar coin. Get rid of the penny but don't replace it with more coins.



I hate how $1 US bills are generally tattered and, for the most part, disgusting.
gamerfreak
gamerfreak
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August 17th, 2016 at 8:44:39 PM permalink
Quote: MB

I hate how $1 US bills are generally tattered and, for the most part, disgusting.


lol fresh bills are a pain too, they stick together like crazy

I've actually had people decline fresh money because they thought it had to be fake
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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August 17th, 2016 at 8:56:17 PM permalink
If they get rid of pennies, you're still going to find a way to get laid. I'm sensing I'm going to hear you've been married 20-30 years and it isn't possible.
In the land of the blind, the man with one eye is the care taker. Hold my beer.
Wizard
Administrator
Wizard
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August 17th, 2016 at 9:02:51 PM permalink
I agree 100% with the OP. The only people keeping the penny around are (or is it "is"?) the tin lobby.

Just out of curiosity, when Canada, Australia, and New Zealand eliminated the penny, what happened to them?
It's not whether you win or lose; it's whether or not you had a good bet.
ontariodealer
ontariodealer
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August 17th, 2016 at 10:32:30 PM permalink
im from canada....I wish we would lose the nickel also....we ditched the 1 and 2 dollar bills and the pennies and life went on very normally.
get second you pig
ontariodealer
ontariodealer
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Joeshlabotnik
Joeshlabotnik
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August 18th, 2016 at 8:01:12 AM permalink
Quote: Wizard

I agree 100% with the OP. The only people keeping the penny around are (or is it "is"?) the tin lobby.

Just out of curiosity, when Canada, Australia, and New Zealand eliminated the penny, what happened to them?



But when Trump is elected and he replaces all the dollars with Trumps, wouldn't we still need coins, and wouldn't it be fitting to call them "Pence"?

I can give you an earlier de facto example--I traveled in Europe before the euro conversion. In Austria, the schilling was the basic unit of currency, and the groschen was the fractional denomination coin. A schilling, when I was there, was only worth about six cents, so the 1, 2, 5, 10, etc. groschen coins weren't worth keeping around--the 50 groschen (1/2 schilling) coin was the only one anyone used. I noticed that merchants everywhere weren't using groschen coins at all, just rounding up or down to the nearest schilling. That would be equivalent to having the nickel be the smallest unit of our currency in circulation.

I think that might be the same as cashiers in stores just keeping a little dish of pennies by the register and using them to round up or down. Ultimately, it'll come down to custom, not government fiat, that determines whether the penny goes out of circulation. The trouble is, all those pennies are somewhere, and I think that somewhere is in a LOT of glass jars in someone's attic. The government should offer to redeem and then melt down all those pennies, with a deadline of, say, Jan 1 2018, after which the penny would not be legal tender.

The only way this would happen on the government level would be for Obama to make an impassioned speech saying how much he loved the penny and wanted to keep it around. Republicans would then immediately draw up a bill mandating the destruction of all pennies.
Wonko33
Wonko33
Joined: Aug 29, 2015
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August 18th, 2016 at 12:51:03 PM permalink
Problem with 1-2$ coins is that it forces people to think.

If something is $16.43 maybe you should give the person 22$ instead of 20, confuses the hell out of some cashiers though, I tell them "just type 22 in the register and you'll see"
So Wizard, still no basic strategy for strip poker huh?

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