Updating US Currency

[lxskllr]

Get rid of the penny? No way.

They may seem "annoying" but the thing is everything would be rounded UP in price (no thanks) plus those pennies add up. I throw them in a jar and every once in a while take it to the bank and look I have a few bucks in pennies alone.

As for a digital currency, screw that. If it is digital, it can be hacked. Besides, how would you do personal transactions? And of course another avenue of taxing you too if the government decided to tax every transaction.

Pennies cost more to mint than they're worth, and you probably waste more in gas moving the pennies around than you get back. I agree regarding digital currency though. I don't want the government to know everything I purchase. You'll start to see tax taken when you buy corn at the end of the farmers' driveway :^S

 

[Bateluer]

If you eliminate the dollar bill, what will I stick into G-strings?

 

[Juked07]

$2 is rare and I think no longer made, it is still in circulation and kinda cool. $100 are useful for large purchases where card won't work (aka, in person).


The main problem we have is that all the items are marked before tax on the shelves, if they went ahead and added tax they could keep items in similar amounts and we could work to eliminate some of these coins.


However I sure as hell don't want MORE coins. The dollar bill is quite useful and I would much prefer to carry 10 of those than 10 huge coins...fuck that. One thing I dislike about Euro currency is walking around with 5lbs of coins in my pocket.

The 2 is currently both circulated and printed. They're just not printed as much as some other bills, and sometimes people like to hoard them since they think they're cool.

 

[Mike Gayner]

All these arguments against ditching the penny are the same remarks stupid people made here when we ditched the 1c coin (many, many years ago). They're lame arguments that make no practical difference. You won't find a single NZ'er who supports bringing back the 1c coin.

 

[xanis]

Fuck pennies. Get rid of them.

"That'll be $3.03."
*looks in wallet, sees a $5 bill*
"$1.97 AKA a fuckton of coins is your change."

FFFFUUUUUUUUU

 

[Jeff7]

Eliminate all hard currency, issue national ID cards with built in E-currency. All your state records can be kept on the national ID (driver's license, insurance, vaccinations, passport, visas, etc.). We can then track criminal financial transaction easily and inflate our woes away by changing a value in a database...

Of course, we already keep a lot of money in database form.
My paycheck is paid by direct deposit, to a bank account.
So one organization tells another organization to change some digits on a computer, and I suddenly have a bit more money.

 

[sdifox]

what's the impetuous for ditching dollar bills in favor of coins?

coins are heaver, a pain in the ass to carry, and not accepted in just about any vending machine I've seen.

Longevity.

 

[PieIsAwesome]

Fuck pennies. Get rid of them.

"That'll be $3.03."
*looks in wallet, sees a $5 bill*
"$1.97 AKA a fuckton of coins is your change."

FFFFUUUUUUUUU

"That'll be $3.03."
*looks in wallet, sees credit card*
:awe:

 

[xanis]

"That'll be $3.03."
*looks in wallet, sees credit card*
:awe:

Touche.

 

[DominionSeraph]

Things are LOVELY without the penny. I was stationed at Sigonella, Sicily for two years and they don't bother shipping pennies over there. Everything is rounded to the nearest nickel. .02, .01, 06, and .07 are rounded down. .03, .04, .08, and .09 are rounded up. Not rocket science.

Over here I just throw my pennies away. They add up to nothing. At an average of 2 pennies per cash transaction it takes 500 cash transactions to make just $10. That's like two years worth for me. Then you have the mess of dealing with 1000 pennies. Not worth the $10.

 

[nickbits]

Get rid of all change and round everything to dollars. Keep bills. Coins suck.

 

[IronWing]

If you eliminate the dollar bill, what will I stick into G-strings?

Coins have more potential.

 

[SparkyJJO]

Pennies cost more to mint than they're worth, and you probably waste more in gas moving the pennies around than you get back. I agree regarding digital currency though. I don't want the government to know everything I purchase. You'll start to see tax taken when you buy corn at the end of the farmers' driveway :^S

I take them to the bank when I'm going there anyway, I don't make a special trip

Fuck pennies. Get rid of them.

"That'll be $3.03."
*looks in wallet, sees a $5 bill*
"$1.97 AKA a fuckton of coins is your change."

FFFFUUUUUUUUU

"That'll be $3.03, rounded to $3.05"
*looks in wallet, sees a $5 bill*
$1.95 AKA still a crapload of coins in your change.

Getting rid of pennies doesn't help there

Get rid of all change and round everything to dollars. Keep bills. Coins suck.

Send me all your coins then

 

[MovingTarget]

Meh, too many people are just fine for the way things are now. I wouldn't mind them being made more friendly for the visually impaired, but honestly we don't have much need to change right now. Also, I would not support getting rid of the penny. I for one do not want my purchases to be rounded up to the next nickel.

 

[richardycc]

we need a $10 coin.

 

[jlee]

It would be rounded like it is now. Sometimes you win a little, and sometimes you lose.

Eh I've never seen it rounded down.

If a good way to do it was figured out, then great...I just have a feeling that it would end up costing individuals more in the end.

 

[Mike Gayner]

Eh I've never seen it rounded down.

If a good way to do it was figured out, then great...I just have a feeling that it would end up costing individuals more in the end.

I don't see why you would have seen it rounded any way at all, being you still have a penny. We got rid of the 1c piece a long time ago here, and there were never any problems. Of course we met the same irrational resistance that you're showing now.

Then a few years ago we also ditched the 5c piece, and now our smallest denomination is 10c. Again, why the hell cares about a few cents? And in any case, every shop I've been to uses the "Swedish rounding" method, where 1 - 4c is rounded down, 5 - 9c is rounded up. Who really cares about such petty amounts?

 

[lxskllr]

I don't see why you would have seen it rounded any way at all, being you still have a penny.

Pennies still get rounded for amounts under $1. 5% tax is the same as saying 1¢ for every 20¢. 1¢-9¢ gets rounded down, and 10¢-19¢ gets rounded up.

 

[jlee]

I don't see why you would have seen it rounded any way at all, being you still have a penny. We got rid of the 1c piece a long time ago here, and there were never any problems. Of course we met the same irrational resistance that you're showing now.

Then a few years ago we also ditched the 5c piece, and now our smallest denomination is 10c. Again, why the hell cares about a few cents? And in any case, every shop I've been to uses the "Swedish rounding" method, where 1 - 4c is rounded down, 5 - 9c is rounded up. Who really cares about such petty amounts?

How is "If a good way to do it was figured out, then great" considered "irrational resistance"?

Oh wait, you're a troll. Nevermind.

 

[iGas]

I was going through my wallet today and looked in my coin cup in my car and gotta say, our money is REALLY inefficient.

I propose We:
Eliminate the Penny
Eliminate the paper dollar bill and push dollar coins
Greatly increase circulation of the $2 bill to replace the paper $1
Create a $200 dollar bill

Thoughts?

This will save a lot of tax payer money in printing costs, make our money more in-line with the cost of goods, and help make my casino wad more manageable by using $200's instead of $100s

Do away with $1~$5 paper bills, and use coins instead of paper.
And, use plastic notes like the Australian that lasts much longer than paper.

 

[Mike Gayner]

How is "If a good way to do it was figured out, then great" considered "irrational resistance"?

Oh wait, you're a troll. Nevermind.

Because you don't exactly need to be a rocket scientist to figure out rounding. In fact, here in NZ they teach is very early in school.

 

[KeithTalent]

Canada has it right and wrong at the same time.

Eliminated $1/$2 bills in favour of coins (I don't mind the $1 coin, but the $2 coin is a bitch). They're getting rid of the penny, too, afaik. $100 bills and up are accepted at very few places these days due to counterfeits, and I honestly prefer $20's in mass over any larger denomination anyway.

So I say it should be...

Nickel
Dime
Quarter
$1 Coin
$2 Paper Bill
$5 Paper Bill
$10 Paper Bill
$20 Paper Bill
$50 Paper Bill
And $100 just because.

What's wrong with the Toonie?

KT

 

[DivideBYZero]

I think the UK goes up to £10 on coins. I'd be good with that for American money. Get rid of the penny, and all bills up to $10. There doesn't need to be anything greater than a $100 bill. Anything more than 10, and you should be using some other form of payment.

No.

1p
2p
5p
10p
20p
50p
£1 coin
£2 coin, but it's rare, even after years.
£5 note.
£10 note.
£20 note.
£50 note.

That's it.

 

[lxskllr]

No.

1p
2p
5p
10p
20p
50p
£1 coin
£2 coin, but it's rare, even after years.
£5 note.
£10 note.
£20 note.
£50 note.

That's it.

Ah, I hadn't looked at my coins in awhile. I thought it went up to £10. Like you said, £2 is the largest I have.