Will the penny ever be done away with?

[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?

 

[lokiju]

I sure hope so!

 

[junkerman123]

get rid of them for the love of god. hopefully itll be the first step to getting rid of CHANGE altogether.

 

[Juice Box]

what does inflation have to do with pennies....last i checked they are just as legal tender as dollars..

if we did away with pennies than retail stores would have to make quite the change in their pricing to make everything on even 5 cents

 

[illusion88]

It costs more to make then its worth. Running total $7,932,368,094,465.20!

 

[DnetMHZ]

Originally posted by: Juice Box
what does inflation have to do with pennies....last i checked they are just as legal tender as dollars..

if we did away with pennies than retail stores would have to make quite the change in their pricing to make everything on even 5 cents

Don't forget sales tax.

 

[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.

 

[mitmot]

death to pennies.

 

[illusion88]

Originally posted by: DnetMHZ

Originally posted by: Juice Box
what does inflation have to do with pennies....last i checked they are just as legal tender as dollars..

if we did away with pennies than retail stores would have to make quite the change in their pricing to make everything on even 5 cents

Don't forget sales tax.

What we should do is get rid of the dollar and put it all on little cards. Better yet, put it all on ONE card. We just swipe, and go.

 

[Tom]

i wish we had half-pennies, that would be cool.

 

[Mo0o]

I always leave the pennies in the penny dish, either that or i end up throwing them away. I hate having loose change in my pockets

 

[mwtgg]

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.

I was just wondering about that. Surely illusion88 isn't serious...

 

[HardcoreRobot]

yes

 

[leftyman]

when they stop making loafers

 

[toekramp]

Originally posted by: Juice Box
what does inflation have to do with pennies....last i checked they are just as legal tender as dollars..

if we did away with pennies than retail stores would have to make quite the change in their pricing to make everything on even 5 cents

i believe his point is that in years to come, when the dollar is worth like 4 cents of what we can buy today, will the penny really make a difference

 

[MikeyIs4Dcats]

no

 

[BigJ]

They can do away with the penny as long as they institute a half cent coin.

 

[BillGates]

I throw my pennies away.

 

[walkur]

Here in the netherlands we got rid of the 1 and 2 eurocents
(only cash, electronically it's still used).
The shops all keep their normal prices and it's then rounded up or down at the register.

BTW why do the prices in US shops don't include the sales tax? it's quite annoying that you can't prepare the cash before the register.

 

[DnetMHZ]

BTW why do the prices in US shops don't include the sales tax? it's quite annoying that you can't prepare the cash before the register.

It's all advertising. If the price looks lower without the tax us dumb americans will buy more.

 

[nakedfrog]

I hope not. I also hate that people actually think getting rid of cash is in any way a good idea.

 

[ai42]

according to this article it costs 4/5s of a cent to produce a penny. Somehow with all the workers and overhead (Government is almost entirely overhead) I'm sure it costs more in the end.

 

[BigJ]

Originally posted by: walkur
Here in the netherlands we got rid of the 1 and 2 eurocents
(only cash, electronically it's still used).
The shops all keep their nrmal prices and it's then rounded up or down at the register.

BTW why do the prices in US shops don't include the sales tax? it's quite annoying that you can't prepare the cash before the register.

Because of billions of dollars spent in marketing and advertising research that shows people are more likely to buy an item when it's showed with a certain number of cents.

 

[bleeb]

nooo

 

[toekramp]

Originally posted by: nakedfrog
I hope not. I also hate that people actually think getting rid of cash is in any way a good idea.

and what does cash do for us? i'd rather carry plastic than paper...the only time it's an inconvience is when you're buying something from an individual that can't take a CC