Should the US abolish the penny?

Schmidt · Apr 23, 2012

mogur said:
Oh, but the appendage is just like the penny. We don't need it, it used to be good, but we are more evolved than that. Poor people can simply bite their nickels into fifths, the rich don't care two cents, and penny candy is a dime now, anyway. Wax lips, and those little wax tubes with kool-aid in them are still the best at a dollar fifty-five. And as long as I can place a penny on the railroad tracks, I'll always have an inflated penny. At least if we keep railroads running.

i cant tell if you just trying to push your political agenda by being sarcastic or you are being serious
please be clearer

you know what would be great if you keep posting like this is to add emotion faces with them like this

myp · Apr 25, 2012

Zimbabwe can use them: http://marginalrevolution.com/marginalrevolution/2012/04/denominational-constraints-in-zimbabwe.html

Self Sufficient · Apr 28, 2012

If they abolish the penny, then the prices of many items will probably be rounded up. Would this end up costing us more or less than the manufacturing cost of pennies? My guess is probably more.

David · Apr 28, 2012

Self Sufficient said:
If they abolish the penny, then the prices of many items will probably be rounded up. Would this end up costing us more or less than the manufacturing cost of pennies? My guess is probably more.

Pennies are worth $0.01. It cost $0.025 to make them. That's $2.5 million for every $1 million.

rice_farmer · Apr 29, 2012

David said:
Pennies are worth $0.01. It cost $0.025 to make them. That's $2.5 million for every $1 million.

I actually am in favor of keeping the penny. Its an essentail when converting the dollar to another world currency.

David · Apr 29, 2012

rice_farmer said:
I actually am in favor of keeping the penny. Its an essentail when converting the dollar to another world currency.

$0.01 can be digital, you don't need 9/10 of a cent to buy gas after all.

myp · Apr 29, 2012

David said:
$0.01 can be digital, you don't need 9/10 of a cent to buy gas after all.

The 9/10 is summed and then rounded, that is different than being digital. Besides, a digital cent without a real cent doesn't make sense.

David · Apr 30, 2012

myp said:
The 9/10 is summed and then rounded, that is different than being digital. Besides, a digital cent without a real cent doesn't make sense.

Sure it does. Getting rid of the penny doesn't make $0.01 go away, it just removes it from coinage.

myp · Apr 30, 2012

David said:
Sure it does. Getting rid of the penny doesn't make $0.01 go away, it just removes it from coinage.

It makes it unfair to those who do not have access to electronic payment.

David · Apr 30, 2012

myp said:
It makes it unfair to those who do not have access to electronic payment.

Maybe but that's another debate. So far as the penny itself goes, you can get rid of it without getting rid of the cent.

mogur · May 5, 2012

Schmidt said:
i cant tell if you just trying to push your political agenda by being sarcastic or you are being serious
please be clearer

you know what would be great if you keep posting like this is to add emotion faces with them like this

Grin, sorry. Just drunken ramblings. I am sarcastic, but normally it is apparent.

shalenB · May 10, 2012

The United States mints more pennies than Canada and at a greater loss. Each United States penny costs about 2.41 cents to make. The United States coins can save a staggering $70 million annually by losing the copper Lincoln-headed disks.

Should the US abolish the penny?

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