Will the penny ever be done away with?

[kwjake]

I give pennies to little brothers in exchange for work :beer:

 

[MrKneecap]

Down with the penny!

 

[clickynext]

Though the 1 cent unit of currency still exists in China, it is almost never used anymore. Many stores there don't deal with change smaller than 10 cents.

 

[BillGates]

Originally posted by: Rogue

Originally posted by: BillGates
I throw my pennies away.

I collect them and earn about $40 a year free all told. I pick up a penny anytime I see it. It took the wife and I out to a decent dinner last year. Thanks!

$40 over an entire year for the effort to pick them up and cash them in? It's not a lot of work but still not worth less than 2 hours work to me. I'll keep pitching them out for you.

 

[thelanx]

In the future, you'll be swiping a card for purchases, thus making cash obsolete.

 

[purbeast0]

Originally posted by: Legend
Kill the pennies, round up to nickels or dimes on sales. Send the extra money to the government. That money combined with the money saved on not making pennies would rake in millions quickly.

That actually is a good idea IMO. I would not mind losing like $.04 at the most everytime I buy something. and atleast it could maybe go towards paying off the national debt. that $$ would add up bigtime, quickly.

 

[elektrolokomotive]

Originally posted by: thelanx
In the future, you'll be swiping a card for purchases, thus making cash obsolete.

How would you tip strippers?

 

[ToeJam13]

Well, the government has two options...

Drop the penny. All currency exchanges would switch from being one-hundredth of a dollar accurate ($0.01) to one-twentieth accurate ($0.05).

Drop the penny, nickel and quarter. All currency exchanges would move to being one-tenth of a dollar accurate ($0.1). Dimes ($0.1) and half-dollars ($0.5) would remain. Perhaps a replacement for the quarter would be introduced (~$0.2).

 

[dds14u]

Don't throw away the pennies! :Q

 

[MagicConch]

I am surprised people throw away pennies.

 

[ISAslot]

Originally posted by: elektrolokomotive

Originally posted by: thelanx
In the future, you'll be swiping a card for purchases, thus making cash obsolete.

How would you tip strippers?

slide a card in her slot

 

[jadinolf]

Originally posted by: Tom
i wish we had half-pennies, that would be cool.

We used to have them.

 

[JohnCU]

Originally posted by: ISAslot

Originally posted by: elektrolokomotive

Originally posted by: thelanx
In the future, you'll be swiping a card for purchases, thus making cash obsolete.

How would you tip strippers?

poke her in her slot

fixed.

 

[Nick5324]

Originally posted by: bonkers325

Originally posted by: illusion88
It costs more to make then its worth. Running total $7,932,368,094,465.20!

thats the national debt, down to the last penny. not the cost of making pennies.

For some reason this made me LOL, :thumbsup:
I'm with you junkerman123, get rid of change altogether. :beer:

 

[Jadow]

we all should have an RFID chip implanted at birth, it could contain a unique number tied to a bank account number on some kind of national network, then the money could just be automatically deducted. It'd be tough to secure, they'd need to encrypt the signal and password protect it, or maybe thumbprint or retinal scan protect it.

 

[Jadow]

or for an idea not as radical as RFID, just get rid of the penny and come out with a new 2 cent piece

 

[Valkerie]

Originally posted by: bonkers325

Originally posted by: illusion88
It costs more to make then its worth. Running total $7,932,368,094,465.20!

thats the national debt, down to the last penny. not the cost of making pennies.

 

[sonoma1993]

i doubt they'll ever get rid of the penny. Because companies wont be able to sell us stuff for $12.99 and make us pay the $13 x .06tax (michigan). I dont get that, why do these companies/goverment make us pay the higher tax fee. for instance if it cost $12.99 they bounce the tax bracket up to $13 instead of keeping it at $12.

 

[Squisher]

The government would like to get rid of pennies, but actually would prefer to do away with paper money, not coins.

Coins last a lot longer, and are harder to counterfeit.

 

[imported_goku]

Originally posted by: bonkers325

Originally posted by: illusion88
It costs more to make then its worth. Running total $7,932,368,094,465.20!

thats the national debt, down to the last penny. not the cost of making pennies.

WTF are you talking about? We didn't have debt in the 90's... Infact we had surplus!

 

[aircooled]

I just fill up a jar and then take them to the grocery store and use the Coinstar machine.

 

[Mill]

Originally posted by: goku2100

Originally posted by: bonkers325

Originally posted by: illusion88
It costs more to make then its worth. Running total $7,932,368,094,465.20!

thats the national debt, down to the last penny. not the cost of making pennies.

WTF are you talking about? We didn't have debt in the 90's... Infact we had surplus!

Budget deficit != national debt you moron.

 

[The Pentium Guy]

Originally posted by: Siva
Why do we need pennies? I have about a billion pennies in my car (cause I keep all my change for tolls) and I hate them all. I don't want pennies, I usually just put them in the give a penny take a penny thing if its there. Will inflation ever drive a penny to the point where its useless and done away with?

No.... then we wouldn't be able to do the whole $9.99 crap (becuase 3 digits is better than 4).

 

[Injury]

Originally posted by: aircooled
I just fill up a jar and then take them to the grocery store and use the Coinstar machine.

It's more fun to put them in one at a time, then take all the receipts to the counter. That way, you don't get charged the 8% fee, since it can't take 8% of 1 cent.

 

[Eli]

Originally posted by: Injury

Originally posted by: aircooled
I just fill up a jar and then take them to the grocery store and use the Coinstar machine.

It's more fun to put them in one at a time, then take all the receipts to the counter. That way, you don't get charged the 8% fee, since it can't take 8% of 1 cent.

LOL!!!!