Should we get rid of pennies?

1c in US is worth more than the actual monetary value because of copper in it.

Australia phased out 1 and 2 cents in 1991 from what I remember. Don't miss it at all. :)
 
Miss-Delectable said:
1c in US is worth more than the actual monetary value because of copper in it.

Australia phased out 1 and 2 cents in 1991 from what I remember. Don't miss it at all. :)
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woman-gold-teeth.jpg

She's more valuable than you because you dont have a copper teeth. :cool2:
 
Miss-Delectable said:
1c in US is worth more than the actual monetary value because of copper in it.

Australia phased out 1 and 2 cents in 1991 from what I remember. Don't miss it at all. :)
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Exactly......It costs 1.5 cents to make a penny......kinda nuts
 
If we rid of pennies so what happen if you get $1.27 charge back so would be $1.00 + 0.25 cents + ???? = $1.27?
 
Believe it or not, my trip to New York City for the All Deaf meet back in January was paid for in cash and most of it came from my jar full of pennies that I accumulated over the years. Since returning, it is halfway full.

I got $400 out of that jar when it was full. Helped to give my hubby and I extra cash for NYC and not put anything on credit cards.

If they stop producing them, then I wont have any fun watching my jar get full. :(
 
shel90 said:
Believe it or not, my trip to New York City for the All Deaf meet back in January was paid for in cash and most of it came from my jar full of pennies that I accumulated over the years. Since returning, it is halfway full.

I got $400 out of that jar when it was full. Helped to give my hubby and I extra cash for NYC and not put anything on credit cards.

If they stop producing them, then I wont have any fun watching my jar get full. :(
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Sure you will just fill it with dimes instead.....then it will be worth $4,000 when it is full. (actually more) :).
 
I don't know....however; the only thing that gives me pause is nothing more than sentimentality.....(is that even a word? :lol:)
 
Getting rid of the small coins would mean that we as people would need alternatives for galvanized metals.

When you're out in the middle of nowhere, lost in the national park, or post-apocalypse you could make your own battery using galvanized coin and natural resources.
Make Your Own Lemon Battery

lembat3.jpg

lembat5.jpg


Pretty pro reason to have them, just my opinion.
 
TXgolfer said:
Exactly......It costs 1.5 cents to make a penny......kinda nuts
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It costs more to make nickels and dimes, and even a dollar bill has higher costs than making a penny.
In 2008, figures for nickels were almost double.
The only way they can come positive in coin production is if they kept making dimes or half dollars only.

http://www.usmint.gov/about_the_mint/index.cfm?action=annual_report

2009
Penny: $0.0162
Nickel: $0.0603
Dime: $0.0565
Half Dollar: $0.1131
Dollar Bill: $0.3040
 
naisho said:
It costs more to make nickels and dimes, and even a dollar bill has higher costs than making a penny.
In 2008, figures for nickels were almost double.
The only way they can come positive in coin production is if they kept making dimes or half dollars only.

The United States Mint Annual Report

2009
Penny: $0.0162
Nickel: $0.0603
Dime: $0.0565
Half Dollar: $0.1131
Dollar Bill: $0.3040
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Exactly......Pennies and nickles cost more to produce than their value.......hence my post we should stop producing pennies and nickles :)
 
Foxrac said:
If we rid of pennies so what happen if you get $1.27 charge back so would be $1.00 + 0.25 cents + ???? = $1.27?
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I want to rid of pennies and that's mean they won't sell as .99¢ or 1.28. Just round up to $1 or $1.30. Any 4¢ or less is skip.
 
The Highlander said:
I want to rid of pennies and that's mean they won't sell as .99¢ or 1.28. Just round up to $1 or $1.30. Any 4¢ or less is skip.
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It's also possible for merchants to purposely price their products so always in 5 -> 9 range rounded up.
May seem a little "no big deal, 5 cents" but over time like one year, many customers = is a lot of $$.

Ever read about the hackers who stole $ few million using 1 penny from everyone's bank account?
 
authentic said:
They are useful, same as euro have coins that are valuable. Europeans love 1 euro coin, it is very useful. If we stop pennies, then there will be no 1.99 or .52 cents or something like that. I hate when I see product that sells $5 and tax comes up like $5.12. I use credit card to avoid getting PENNIES in a return. I don't mind to keep 5 cents, 10 cents, 25 cents to save for street parking meter. Street parking meter won't accept pennies, and even soda machines. :hmm:
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Very true about street parking meter and soda machines. I wish they accept credit card for anywhere.

You use Macbook and you should use "option+4" than type cents.
 
naisho said:
It's also possible for merchants to purposely price their products so always in 5 -> 9 range round up.
May seem a little "no big deal, 5 cents" but over time like one year, many customers = is a lot of $$.

Ever read about the hackers who stole $ few million using 1 penny from everyone's bank account?
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Oh yeah. I remembered about hacked.
 
The Highlander said:
I want to rid of pennies and that's mean they won't sell as .99¢ or 1.28. Just round up to $1 or $1.30. Any 4¢ or less is skip.
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Oh yup, I support to rid of pennies and possibly nickels.
 
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