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 Replies: 35 / Views: 4,835 |
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Moderator
 United States
189767 Posts |
I meant that it actually became the new penny after eliminating the cent through half dollar, but you make a good point. Maybe it should be, but then we should have been removing them slowly over the past two hundred years when we have only removed one (the Half Cent). |
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Pillar of the Community
United States
2168 Posts |
i know I was just fooling around but it is said that the dollar has lost something like 98 % since then. I just feel if we start eliminating coinage it won't be long before our society becomes cashless and I personally don't look forward to that. I realize a halfpenny was removed from circulation way back but back then no worries of the cashless thing. It just seems that more and more items are cash cards or direct deposits thus less actual cash used. And all those cards are useless during power outages etc.
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Pillar of the Community
United States
3276 Posts |
It's simple. They are going to get rid of the cent in 2021 so my dansco can be full and not have any empty spaces at the end :)
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Moderator
United States
189767 Posts |
Quote:
I just feel if we start eliminating coinage it won't be long before our society becomes cashless and I personally don't look forward to that. Going cashless in inevitable. Just my opinion, but working in the tech sector for so long has given me a perspective that it is too logical not to happen. Coins will still be collected, but we will all be "classic" collectors then.  Quote:
It's simple. They are going to get rid of the cent in 2021 so my dansco can be full and not have any empty spaces at the end :) Nice!  |
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Pillar of the Community
United States
2168 Posts |
The problem with a cashless society is what happens when the power goes out? I do think the more people using cash the longer we will have it. Also, part of the fun of collecting is finding the coins from circulation at least for me.
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New Member
United States
11 Posts |
Angel2004 your point was what I was attempting to voice differently...the penny in 1913 is the one dollar bill in 2011 as far as worth and purchasing power are concerned. I do not believe that the world will end WHEN we soon eliminate or debase the penny and the nickel. We have the hindsight to see what happened when we debased silver (and copper for that matter) coinage...it shall most likely be similar with Gresham's Law coming into play once again. Furthermore one can predict with relative ease what (will not even try to say when) will come next: the dime, quarter, and half dollar which all currently have 19% of their face value in intrinsic value and will be next up. Their values or compositions will be altered to accommodate their declining purchasing power. And yeah eventually you are right; a reusable item with no intrinsic value would be the "perfect currency" in a value declining monetary system.. OR then again public belief/faith in the monetary system could be shaken and make all of this useless blather as everything changes.
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Moderator
United States
189767 Posts |
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The problem with a cashless society is what happens when the power goes out? Okay. How many cashiers know how to make change without the help of their (also electrically powered) point of sale system?  Quote:
Also, part of the fun of collecting is finding the coins from circulation at least for me. Do not get me wrong, I agree with you on this. I do not like it any more than you do, but as I said, I have a perspective that says it will happen. Just look at the shift from B&M shopping to the likes of Amazon, ebay, Newegg, etc. How well does our cash work with them? |
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Pillar of the Community
United States
2168 Posts |
I understand that most online shopping is cashless, but we can have both. I do not use an ATM card. My husband does. well, last week it was deneyed use 3 times. There was plenty of money in the account but the bank froze the card. It turned out they claim that Visa couldn't reach my husband to discuss possible breach of his account. Well, Visa wouldn't be contacting a customer directly, the bank where the account is does. But in the end he did have cash and he will have a new card in 10-14 days! If this were the only method of pmt, it could present problems. That's all I'm saying. And then just think all our purchases can and will be trace and monitored. I am not doing anything wrong, I just don't like having my information bought and sold and who knows what else they do with it.
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Moderator
United States
189767 Posts |
There are most definitely problems if we decided to go cashless today. However, the pace of technology and consumer habits have us on course for it to happen. That, of course, assumes there are no major events altering the course of civilization; we could still end up back in the stone age.  I do agree, as of now, having both payment options is not only preferable, but a necessity. I also want to stress that I do enjoying collecting my coins from circulation. I just would not mind if I had to get my future cents from the mint.  |
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Valued Member
United States
493 Posts |
We are stuck with the penny, even the Euro had a one and Two Cent. We should go plastic, and say here!, try and hoard these! Still, every last store now has a little change dish for taking and giving a penny. I actually like getting my coin change, I wish I could get all my change back just in pennies, they are such a hassle. I mean, if you ask for 50 pennies back instead of quarters they will look at you like your a nut. Edited by everything
12/17/2011 02:55 am
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Bedrock of the Community
Australia
21788 Posts |
It seems to me that the One Cent is a 'use only once' coin these days.
Small wonder that so many of them are in almost perfect condition.
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Pillar of the Community
United States
1796 Posts |
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I mean, if you ask for 50 pennies back instead of quarters they will look at you like you're a nut. Nah only the first time... ... Not that I will admit I know this from experience... ... :-) |
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Valued Member
United States
123 Posts |
Its really funny when you go to the bank with 7 dollars in quarters and 3 dollars bills and ask for 20 rolls of pennies. I just did that today......and I ended up getting 18 rolls of 2011 D pennies. I opened 5 rolls of pennies,went to another bank, traded one roll for another roll of pennies and then got 7 dollars in bills lol
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Valued Member
United States
193 Posts |
Will never go to a cashless society. There are simply too many exchanges that take place were nothing but cash will work. I.E. the black market and/or other certain nefarious deals.
And I don't mean just by "street" people.
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Pillar of the Community
United States
2168 Posts |
Yes but little be little even welfare unemployment SS are all direct deposit or debit card. A lot of those recipients have no choice and getting cash means ATM fees for them. I really don't think its fair for them. Notice that you don't find as many coins in parking lots etc. At first I was thinking people were picking them up but I didn't realize so many pmts were mandatory deposit or debit card. The better to track us with I'm sure!
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Replies: 35 / Views: 4,835 |
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Posted 12/13/2011 4:08 pm
