| Author |
 Replies: 38 / Views: 4,361 |
Page 3 of 3
|
|
|
|
Valued Member
 United States
268 Posts |
The way that I would say the feds would get the penny out of circluition is by having people trade them in for cash,and then destroy them.
|
|
Bedrock of the Community
United States
17884 Posts |
The problem with that is that then the Fed has to pay for them. If they just stop making them, most of the coins will disappear into and stay in peoples hoards. This is an advantage for the government because if they don't have to redeem them it is like a gift to the government.
They don't want to redeem them, they want you to keep them.
Edited by Conder101
01/09/2012 09:46 am
|
|
Pillar of the Community
United States
2295 Posts |
I only voted yes, since if the BEP can still print billions of one dollar notes (when there are 1.4 billion coins to use), why not let the Mint make billions of one cent coins?
Realistically and seriously we should to stop minting the cent and to stop printing the one dollar note.
But the cost savings of doing either improvement for the government is chump change as compared to the national budget. You can say you have to start somewhere, but not on the petty items. Go with the big items and work your way down.
|
|
Valued Member
United States
406 Posts |
I think we should stop minting the cent (except for collectors), but I don't think we will. It would certainly make sense from a rational standpoint, but our Congress left rationality behind long ago.
|
|
Valued Member
United States
306 Posts |
I'd like it to cease mintage for circulation but kept in mint sets
|
|
Moderator
 United States
188404 Posts |
Quote:
I would like to point out that this topic has been polled multiple times and discussed. It will keep coming up until we come to our senses and eliminate mintage of the cent for circulation. For the record, I still want to see the cent in my annual mint and proof sets (just like the Half Dollar). Yes, I would like to see it made of bronze, as it was in 2009.  |
|
Pillar of the Community
United States
2295 Posts |
Quote:
I would like to point out that this topic has been polled multiple times and discussed. Not only here, but everywhere else. It all started way back in the early 1970s when they looked at aluminum and even by the huge analysis and report written by RTI in 1976. Technically you can even go back to the mid 1850s when they went from the large cent to the small cent. And it will continue until the problem is resolved and inflation stops. If the cent is eliminated, it is just a matter of time, until it becomes the nickels turn, and so on. Moving up the denominations.  |
|
Moderator
United States
188404 Posts |
If our coinage had really kept pace with inflation, we would be discussing the elimination of the dime in this thread (as the cent and five cent coins would have been long gone by now). |
|
Valued Member
United States
268 Posts |
this poll is closed.If you want to cheek the reasults you can.Please no more voteing
|
|
Pillar of the Community
United States
2295 Posts |
Even though the poll is closed, can we still post comments?  In the NN of 1-10-12, on page 4, it talks about the "Cents and Sensibility Act" and the "STEEL Nickel Act" to reduce the costs of the cent and nickel by using steel. So that is positive news on keeping the cent for the future. It'll be interesting to see if the steel cent will have nice details on it or will it have less details since the steel is harder? They also state that it might not reduce the cost enough to make it profitable, since the Mint will still be using the same aging infrastructure. |
|
Bedrock of the Community
United States
17884 Posts |
Even making them out of steel can't save the cent. It costs more than a cent to make each one not including the materials.
|
|
Moderator
United States
188404 Posts |
Quote:
Even making them out of steel can't save the cent. It costs more than a cent to make each one not including the materials. Correct. Which is why the cent (as a circulating denomination) has long overstayed its welcome. |
|
Pillar of the Community
United States
2295 Posts |
Maybe they should make the cents in China then?  Or maybe a 2 cent piece the same size as the current cent? Edited by wquinn
01/18/2012 08:56 am
|
|
Moderator
United States
188404 Posts |
No, and, uh, no! |
|
Valued Member
United States
275 Posts |
Think about this guys, when I was in Korea, the highest bill was basicly $10 (1000) won and 100 and I think 500 won coins That's all I saw and that system worked fine. People paid their rent in big stacks of 10s basicly
Edited by Coppertop
01/19/2012 04:06 am
|
|
Page 3 of 3
|
Replies: 38 / Views: 4,361 |
Page 3 of 3
|
First Page
Previous Page
Posted 01/09/2012 09:45 am
