Should We Get Rid Of The Penny?

[arwalden]

... and let the nickle be the lowest valued coin?



My vote: Yes. -- Pennies are a nuisance... and Lincoln already has the $5.00 bill... so it's not like he's not being honored already. Or we could put him on the golden dollar coin.

[JimmyJazz]

1. Penny Marshall? Yeah we should. I never did like that Laverne

and Shirley Show!

[NYC Liberal]

2. Only if they put Reagan on it.

[nothingshocksmeanymore]

3. No..it will raise the cost of everything

and henceforth, prices would rise by a nickel...no one would love this more than oil companies and the ruling class.

[newsguyatl]

4. but how else would you make

your living in dupont circle, allen? :shrug:

[arwalden]

5. Excuse Me... ???

You misunderstimate me... I get a quarter! (And I'm worth it too!)

-- Allen

[newsguyatl]

6. this belly dancer will give you seven

... if you use only your mouth.

[arwalden]

8. I Can't Compete With That...

... she's out of my league.

-- Allen

[RC]

7. So what does Lincoln being on the $5 bill have to do

with whether we keep the penny or not? Getting rid of the penny would raise the price of most everything at least 4¢. Inflation anyone? What would drop is any money you would get, as in round down. Think pay checks for starts.
This sounds like another repug divert attention issue.

[EstimatedProphet]

9. No. I agree that pennies are a pain, but

the dollar is still divisible by 100, so you have to have them.

[mongo]

10. What about sales tax?

7.5% here. They Wouldn't necessarily have to raise the sales tax, just change the break points, but I'm sure that you would end up paying more tax on everything too.

[arwalden]

14. Round Up Or Down To The Nearest-Five...

I'm sure that statistically it would all be a wash. One time you pay a few pennies more, the next time a few pennies less.

I'm reminded of one DUers post where she bragged that she only entered each check in her checkbook register by rounding it to the nearest dollar. (The amount she paid each store was correct, but she simply rounded off the amount she put in her checkbook stub.)

Her husband hated her "lazy" practice and decided to prove her wrong by balancing her checkbook for her... to the PENNY. Apparently her up-rounding and down-rounding kept her within 50-cents of her monthly statement. Pretty cool.

-- Allen

[Lefty48197]

23. Oh great! Now we need half pennies again

.

[Deja Q]

11. Why not put Reagan's face on it and give Abe the $10 bill?

As with the penny, Reagan is pretty much worthless.

Abe did this country more good and was a Republican in good taste.

[MercutioATC]

12. Not only the penny, but the paper dollar bill.

The life expectancy for a paper dollar bill: 6 weeks.

The life expectancy for a dollar coin: 25-30 years.

We'd save a fortune getting rid of dollar bills.

[NYC Liberal]

13. No way.

Coins are a pain in the ass.

[MercutioATC]

18. To save THAT much money in printing? I'll deal with it.

Yes the Susan B. Anthony coins were ill-conceived, but the new ones are bigger and gold...they work fine for me.

[wickerwoman]

24. Not as much as you'd think.

Many foreign countries use coins instead of bills for the denominations approximating $1 and it works out to be more convenient that keeping track of a one inch thick wad of $1 bills. They have pound coins in England and Ireland and after a week or two you don't notice the difference.

In China they've started introducing smaller bills for yuan and even jiao. The other day I got 3 1 jiao notes worth about 3 cents each. I dumped them as soon as I could and the cashier gave me a dirty look.

[politicat]

16. I agree with you on the paper dollar....

We need more dollar coins. They're hard to get since the banks don't carry them and most vending machines won't take them.

Perhaps it's time for a national standard that all new vending machines take dollar coins?

Pcat

[MercutioATC]

17. I agree

Need dollar coins? Go to the Post Office. They use dollar coins for almost everything.

[politicat]

20. I do. EOM

[politicat]

15. You leave Sacajawea right where she is!!

We only have 2 women on any US currency at all - Sacajawea and Susan B. Anthony, both on dollar coins. It's another example of low level, institutionalized sexism that's far from obvious.

You ask for Lincoln on the Dollar, I'm lobbying for Elizabeth Cady Stantion or Belva Lockwood for the 20.


Pcat

[gmoney]

19. could LOWER prices a tiny bit

advertised prices would go from $x.99 to $x.95

But I do bet sales tax would always be rounded up to inch up revenue

[flowomo]

21. What would I put in all those jars???

n/t

[GoddessOfGuinness]

22. Keep 'em.

We may one day regret that we took half-pennies out of circulation...

[donheld]

25. Better idea!!!!!!!!!!!!

let's but Reagan on the penny! :bounce::bounce: Then get rid of it!!:evilgrin::evilgrin: