Do you think they should do away with pennies?

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NewTime
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16 Apr 2017, 8:09 am

It costs more to produce a penny than what a penny is worth.



LoveNotHate
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16 Apr 2017, 8:37 am

They don't produce coins for profit, so why would that matter?



Claradoon
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16 Apr 2017, 8:49 am

Canadian here - we already did away with pennies. They are not missed! Our change is rounded to the nearest nickel, and my purse doesn't weigh a ton. I didn't like the idea at first but when we did it I saw the convenience.



kitesandtrainsandcats
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16 Apr 2017, 9:41 am

Claradoon wrote:
Canadian here ... Our change is rounded to the nearest nickel, ...

I wonder if there is same as here --
Quote:
"... and 8 cents to make a nickel, according to a new report from the U.S. Government Accountability Office. "

The logical thing to do is for the government to wipe out cash entirely.
Which would make it easier to collect tax on garage sales/boot sales via transactions on smart phones - think how much money governments are losing there. (which brings up the question of whether you can 'lose' something you never got to begin with) Oh, you can't afford a smart phone; sorry, you don't get to do garage sales/boot sales, sucks to be you.
http://money.cnn.com/2016/01/11/news/economy/u-s-coins/


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NewTime
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16 Apr 2017, 10:26 am

Inflation has made pennies seem worthless, and they are just becoming more and more so as time goes on. Few vending machines even accept pennies anymore.



the_phoenix
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16 Apr 2017, 12:08 pm

Anyone wanting to do away with pennies,
you're welcome to send them to me.
I'll be happy to take them. 8)



Drake
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16 Apr 2017, 12:40 pm

You can do away with Laurie Penny if you want. :P



Fogman
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16 Apr 2017, 6:20 pm

I don't think we should get rid of pennies, but we should definately get rid of the dollar bill, and use the coins instead, like Canada. --And also like Canada, we should introduce a $2 coin.


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NewTime
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16 Apr 2017, 6:40 pm

Fogman wrote:
I don't think we should get rid of pennies, but we should definately get rid of the dollar bill, and use the coins instead, like Canada. --And also like Canada, we should introduce a $2 coin.


I don't think so. Coins are easier to lose than bills.



BaronHarkonnen85
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16 Apr 2017, 8:17 pm

Yes, they are pointless and utterly fail at their purpose. They aren't worth it.


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Claradoon
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16 Apr 2017, 8:52 pm

coins for $1 and $2 are a great blessing at vending machines.



EzraS
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17 Apr 2017, 4:06 am

I think they should start with not minting new pennies. There's plenty of them in circulation already to last awhile.



Claradoon
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17 Apr 2017, 7:17 am

EzraS wrote:
I think they should start with not minting new pennies. There's plenty of them in circulation already to last awhile.

At some point, they won't have enough pennies to be able to make change. We need the rule about rounding off to the nearest nickel. It worked very smoothly; I was surprised.

But I will miss the taxpayer who pays his annual taxes with a dump-truck full of pennies.



seaweed
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17 Apr 2017, 1:19 pm

tangible money is slowly headed towards becoming obsolete anyways, and the penny is the first sucker to go



The_Walrus
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17 Apr 2017, 2:01 pm

No, but the government should lose its monopoly on currency.



DancingCorpse
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18 Apr 2017, 11:52 pm

Give them all to me to launch in a fine old frenzy into those abominable arcade broom-punch machines which teasingly and tediously shove all the trapped precious pennies toward you only to demand further payment for the half arsed job it did with what it had already been bestowed!