Another Attempt To Get Rid Of The Cent And Nickel In The USA

Where I live this does not hold true. businesses do not deposit cents because they just keep them to save a trip to the bank for having to get more to make change, hopefully, but people are always depositing them IF they were not, the one bank would only ever be able to give Brinks plastic wrapped cents or their own variety of roll, but they always have all sorts of mixed rolls like those you buy in an assorted preformed bag of rolls.

Why would they go back to the Federal Reserve part of the chain anyway?

Your link there doesn't work and I wasn interested in reading it. :(

Without seeing it, all I can think is that yes people were hoarding cents to save up for this or that as was taught to them by parents or grandparents that lived through the great depression, and the coin jar have been being filled ever since. I don't consider those lost as with deaths they turn up, with a recession (such as 2008~) they turn up. but they are not being "lost" as it seems people are saying in that they are thrown away, because if true, then enough made it back to fill the FED up on its supply.

also the Coin act shenanigans going on trying to make money for the Mint by making special circulation coins means I am highly suspect if they weren't jsut trying to make that ultra-rare baseball card type coin and short the mintage in order to get attraction to the anniversary cents. what is next after state parks? state birds? states flower quarters?

again, until I see some numbers with evidence that proves it I can only go based on what I have seen. I have seen too many people dumping change that includes cents into Coinstars at stores like Target, Walmart, etc that people aren't just throwing them in the trash.

for 300 million US citizens (and wherever else the FED sends our coinage outside of the 50 states) they mint 3,ooo million (3 billion) cents. average of $1 per person. I just don't think that average is being lost as in destroyed in those numbers yearly. I just need to see some proof. the fact the FED had "enough" and only @1.2 billion cents were minted in 2009 at each mint?

it really only seems like they are trying to create the super-rare baseball card by only making a few of them so people have to buy more to get them. out politicians in office remember baseball card if the only thing younger generations know is Pokemon cards and the like.

Also it seems the penny was doing its job if people were able to dump that many coins that they held onto to be able to make ends meet during 2009 when the bottom fell out. All the more reason not to get rid of them unless you want to risk crippling the economy and it NOT being able to snap back because people won't have those pennies they have collected to pay for things with.

While a coin collector, I am also a math person, and you need the number 1 in base 10 math. like 0 being a placeholder in a numer like 100, it still have value because otherwise you would just have 1.

so long as currency exists it is foolish to get rid of any of the number you need to do math with. for those that use cards and such and not actual currency, then what do they care? the problem is everyone doesn't. how many stores can you walk into and be a penny short and they will say forget about it? how will that work when you are a dime short and the dime is the lowest coin or denomination of US money because of getting rid of not only the penny, but the nickel? store lets 1 penny slide for 100 people, then they have 100 returning customers that are happy. they start ignoring dimes, and then you give those 100 customers a free ride on a single dime and you are out $10. that will quickly eat up profits.

today you may be short 3 cents and they say forget about it. if this goes through will the same store say forget about 3 dimes?

we are mostly talking about cents being thrown away and such, but I read the top of the page here and it says both cents and nickels.

Some petition to deport Justin something back to Canada reached the presidents office with enough people behind it, they had to read it. has there ever been such a thing like that about people saying "hey lets get rid of the penny, I'm tired of them", in whatever ways that could be worded?

"ran by the people and for the people", but do the people have any say in such matters? this is why I am skeptical when stupid things like this come up when the senate and/or congress is wasting its time with such after spending how much money on State Quarters, memorial cents, westward journey nickels, state park quarters, union shield cents designs, engraving, etc? how much money did THAT cost people? how many years worth of pennies production cost (not metal content) would the costs of all that engraving and die making, etc have made?

want to save the country money? dont pay politicians that go on holiday without finishing making a budget. but the ones that decide how much they make via law is the ones making the laws. sorry, just don't trust a force like that that has no power that can counterbalance it.

so sadly again, I jsut need to see some proof in numbers demographics and areas where these cents are dematerializing. any other way to get to what you linked to since that link to the coin jar dump doesn't seem to be working?

Not sure why, it works for me. It is a search of the site for "Coin Jar Dump of 2008" to show all of the past threads about it. You can click on the Search button and paste that term (Coin Jar Dump of 2008) to get the results.


True. Many of the coins we lose are only temporarily lost to the coin jars. But it does not change the fact that their absence from circulation helps increase mintage, just as everyone dumping their coins in 2008 lead to a decrease in mintage for 2009.


If you do not trust what I am saying, then you are more than welcome to call the mint, the Fed, and the corporate offices for several banks to ask them why we mint so many cents every year. Personally, I encourage everyone to question everything.


Removing the one cent coin does not end the use of the one cent denomination. Electronic transactions, which are greater than 85% of all transactions now (at least the legal kind) will still be accurate to the cent. Cash transactions will need to be rounded to the nearest, not highest (and more likely lowest since cash saves the vendor electronic surcharges) five (or ten) cent total.


Consider this... A dime today buys less than what a cent did at the turn of the last century. Also consider this... several places near me (mom and pop type) round their cash totals down the the nearest dollar. I do not think a dime here or there will kill them, especially when running that payment electronically would have cost them a dime or three anyway.


Any place that lets a customer habitually short them either can afford it or will be out of business. Whether it is cents, nickels, or dimes has nothing to do with this since it all adds up.


I would love to get rid of the nickel as well (the dime is the new cent when it comes to purchase power. Howevr, that pesky quarter makes that endeavour a bit more difficult.





I can only present the information. I cannot make anyone accept it. The simple truth is that the cent (and nickel) have both outlived their usefulness. Arguing against it is not going to change it.

Inflation is a huge reason.


Yes. Yes it has. Just because we do not like it does not make it any less true.

Agreed.

A long as you've got the zinc and nickel metals lobbying groups, the rag paper lobbying group, the printers and press operators union groups (at the BEP and mint) along with Congressmen from affected districts, the cent, nickel and dollar bill ain't going anywhere.

The word in Congress is "I don't care what you do to reduce costs...just don't do anything that affects jobs in MY district!"

Yes, but the series doesn't have EVERY year on them like you say. Coins could be done that way too. mint them and only release them after the date like 2015, 2020. you wont find a Series 2020 dollar bill out int he public yet because it wouldnt be legal.

IF the shortage bit in 2008~2009 thing is true, then people DID return their cents to the bank, so if the bank starts running out people will start depositing them. it would also be a test to see how people react when they don't get their ful check amounts cashed at a bank when the bank is out of cents. might mean stores actually deposit coins too. sure it helps the store to cut out the middle man, but how much coinage is trapped in stores and has been sitting there forever so the store can have them "just in case" without having to go get a box from the bank?

i know a local Walmart that has more cash and coin on hand than most banks in my area. they just dont care to take the time to deposit it.

sooo many factors going on a public study should be done, not jsut asking random people. I could already guess the results.

1000 people asked if then think the cent should go away, out of those 60% use cards and such and never touch cash, and say yes. that 60% skews the poll improperly because they don't use them. it would be like asking someone allergic to dairy how your grilled cheese sandwich tastes. you are polling the WRONG people and not taking this into account. so of that other 40% of useful poll data, how many of THOSE in that smaller sample size think the cent is no longer needed?

it is like when news reports X unemployment, it is a lie, because the term in gov speak means those ON unemployment that qualify for the program, not actually those of working age and ability that don't have jobs. it is a marketing tctic used in EVERYTHING today, and thus why I just dont trust "info" that doesn't give me the data to judge for myself.

i am NOT from Missouri, but SHOW ME!

"Believe nothing you hear, and only half of what you see."

the simplest way for the gov to save money on making money would just be something like a SSC but a credit card. as lacking in privacy, and currently safety, as that is, that is where it will all go in the end, unless Star Trek becomes reality and we just stop greed mongering and the religion of money that worships the dollar bill.