Death To The Penny

Ah the zinc lobby--do they have an address--can I mail them my corroded Zincolns?

You cannot say this in good faith and good conscious in a topic where many times it is brought up the "buying power" of the cent can you?

a cent is EXACTLY 1 percent of a dollar. ergo the term cent. 1 per cent, means 1 per every 100, or 1/100th. the word was just made one into percent. how long until it becomes perhour in MPH?

taxes are rated per cents. this many how many for each dollar. 10 per cent is 10/100ths, 10% tax rate. a die on the dollar as it were.

CENTury is also of 100. cent 1 of 100...the term cent is only in coinage but math that is older and was adopted by coinage and common language.

1 per cent means one of one hundred, 1/100... this is the value to dollars of the US penny, or ONE CENT coin as it is one of a hundred towards a dollar.

Numismatic etymology...the one about history of words...


is just gets weird in music where cent is 1/12th of 100 ...

to go with your #2 I would say those who believe people would NOT lose money due to rounding is not paying attention to the world and how businesses work///to cheat people and the government out of money. (see 2009 TARP funding)

people are already getting cheated in rounding of taxes as it is WITH the penny, it will only get WORSE without it.

Get out of the politicians that listen to lobbyists playbooks, and check with some economicists about the state of affairs of businesses, or jsut try talking to the telecoomm industry about anything or your local government officials on how things are rounded.

It wasn't a fairy tale joke used in Superman III, but something that actually happens someone noticed to give the character of Richard PRyor in the story to skim those partial cents into over $80,000 per week from ONE company.

Math problem for you.

A business with 1 million customers rounds up on all partial cents. 0.000001 = 0.01. How much money on its daily transactions does it take in? Now how much of that does the IRS ask for since it rounds DOWN cents or even dollars?

Why is the consumer paying taxes that the company keeps?

Don't say this doesn't happen, I deal with it daily. Just go askj the IRS. CONSUMERS lose on rounding, TAXES lose on rounding, the CEOs like Warren Buffet are the only ones that gain from rounding. I think they have enough that if they don't want to use cents/pennies, they should just not use them and until they redistributed their wealth, they should have no say in what othr people are allowed to use. What is next, he will decide that Taco Bell should be the only restaurant left because a franchise war he instigates and back Taco Bell? To that I say Be Well Raymond Cocteau! (or rather John Spartan's or Edgar Friendly's response to "Be well".)

If you have 99c will McDonalds let you have a $1 special....more than likely not.....so that little cent can be very important when you dont have it.

That applies to 5c...or even 10c (the smallest coin in NZ - about US8c).

BTW, there is one other coin that is just about as useless as the American cent. The Japanese aluminum 1 yen coin. The only positive of the Japanese 1 yen over our 1 cent coin is that it can float on water.

If I was in charge, we'd just have .1, .5, 1 and 5 dollar coins and $10, $50, $100 and $500 bills. Although with e-payment being the norm, we may not need a $500.

Money is worth 1/10 what it was 60 years ago, time to shift everything up a decimal point. Think of the dime as our new penny, and the $10 bill as our new $1 bill if that makes sense. It all worked 50-60 years ago when the smallest bill was worth $10 and the smallest coin was worth 10 cents now.

Not sure why anyone would have a problem with that other than nostalgia.

Long live the cent!

(Now to totally ignore this stupid thread...)

If you search CCF you will see I have said that more than one time.

I also add that the NIFC cent should be bronze.