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 Replies: 67 / Views: 8,044 |
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Moderator
 United States
188766 Posts |
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Valued Member
United States
75 Posts |
Probably won't happen. Maybe if they start costing 5 cents to make. Eliminating it would open a whole new set of problems. Everybody hates them 'til they're gone (except coin collectors of course  ). gshobar |
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Pillar of the Community
798 Posts |
When ever they stop thinking that they need to commemorate one of the only 4 presidents to of been assassinated by having him on the one cent coin and continue minting that coin for that reason. When they do melt`em all there will be countless rare and valuable dates and errors of penny's lost forever but if I could vote for it I would vote to discontinue them. It would just be nice if they had some numismatic sorters or something like that to save the ones that Should be saved!  |
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Pillar of the Community
United States
1208 Posts |
The real question is:
When will they make a sub-forum for people to post their incessant
anti-(enter denomination here) posts? This constant wishing away
of your most hated denomination is NOT numismatics... It's politics.
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Valued Member
United States
110 Posts |
Quote:
This constant wishing away
of your most hated denomination is NOT numismatics... It's politics Everything is political when the government is in everything! But yes, I like my pennies just fine. And I also like saving money on my purchases. Wouldn't eliminating the penny, mean rounding prices UP to the nearest nickel? So I would lose up 4 cents on every purchase. |
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Pillar of the Community
United States
4409 Posts |
Quote:
Wouldn't eliminating the penny, mean rounding prices UP to the nearest nickel? So I would lose up 4 cents on every purchase. No, as has been pointed out multiple times in other threads. The total would be rounded up or down. |
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Pillar of the Community
United States
1132 Posts |
Quote:
When ever they stop thinking that they need to commemorate one of the only 4 presidents to of been assassinated by having him on the Cent and continuing to mint them for that reason. If you think THIS is even remotely close to the reason Mr. Lincoln, abolishor of slavery, preserver of the nation, a man from humble beginnings that perservered with nothing more than determination to better himself & our country through education & destruction of ignorance propelling himself to the position of leader of the FREE world by ensuring that OUR NATION "conceived in Liberty, and dedicated to the proposition that all men are created equal...that this nation, under God, shall have a new birth of freedom -- and that government of the people, by the people, for the people, shall not perish from the earth." is on the Cent. You are in dire need of education. He saved our country. Edited by CopperCastle
02/20/2015 8:08 pm
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Pillar of the Community
United States
1208 Posts |
Prices will be rounded up. It's so easy to manipulate that
to your advantage, and that's exactly what they'll do. The
perfect example is the "Mill" and how fuel companies lobbied
to have that used to their advantage. This new scheme is even
easier to manipulate than something like the Mill, which has
never even been minted or printed...
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Valued Member
United States
110 Posts |
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No, as has been pointed out multiple times in other threads. The total would be rounded up or down. Sorry, I'm still new here. To me that doesn't make sense. If I were a running a business that had large volume of sales, I would not want to round down by a few cents. That would eat into the profit margins....I'll try to find the discussion in some other threads. |
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Pillar of the Community
798 Posts |
On another site I red a comment that asked "why do all of America's best presidents get assassinated". what happen to him happen to him but its just such a coincidence in my head because at the same time he seems like a more special president than most others today and he just happens to be one of them that gets shot. Not only is there a movie about him but there's also one about Kennedy, they both were shot. When the time comes to stop minting pennies in America one thing I know you guys will be left with is what is on the penny, the Lincoln memorial... and countless other things I think. For reasons like that I as a Canadian am Lincolned out right now or I guess Zincolned out. Lets talk about Calvin Coolidge now or some other random and never talked about president like him.  |
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Valued Member
United States
110 Posts |
Quote:
"why do all of America's best presidents get assassinated" Many would disagree that Lincoln was one of our best presidents. And keeping a coin in circulation to recognize some dead guy is crazy. |
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Moderator
United States
188766 Posts |
First, getting rid of the cent is not political, it is fiscally responsible. The truth is that NOT getting rid of the cent IS political.  Second, the whole rounding debate is such a non-issue. Totals are already rounded to the nearest cent because of sales taxes, so rounding to the nearest nickel is just as easy. Rounded totals will even out over time. I have issued a challenge before... 1. Take all of your receipts from the last month and total them. Call this Total 1.
2. Round the total of each receipt properly to the nearest five cents.
3. Total the rounded receipt totals. Call this Total 2.
4. What is the difference between Total 1 and Total 2? A whole lot of nothing. Many businesses will round down to be nice. They are already saving money by taking cash since electronic transactions have a surcharge that they pay. Several places in my area already round cash transactions down as a thank you for saving them the fees. By the way, if losing the cent is so bad, then why is Canada still functioning as a first world country?  |
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Valued Member
United States
110 Posts |
Quote:
Many businesses will round down to be nice. They are already saving money by taking cash since electronic transactions have a surcharge that they pay. Several places in my area already round cash transactions down as a thank you for saving them the fees. I have an experience like this. I was buying some records on the 'annual record store day' (big sale on lots of albums). The line to pay was wrapped around the entire store. It would have literally taken hours to get through. But if you were paying cash, they had a separate line. That line was about a 2 minute wait (because nobody uses cash these days). Plus, they rounded down to the nearest dollar. I think they just didn't have the change to make it through the day. Bottom line it benefits everyone, except for the banks and credit card companies, to pay with cash! |
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Bedrock of the Community
United States
17884 Posts |
Quote:
propelling himself to the position of leader of the FREE world Leader of the free world? In the 1860's the US was still a minor nation. Quote:
Prices will be rounded up. It's so easy to manipulate that
to your advantage, and that's exactly what they'll do. Actually it's darn near impossible to manipulate prices so they will always round up. The only way to consistently round up is to not use a cash register. With one you wind up either using the built in rounding feature which will round up and down, or ring up the sale and then look your customer right in the eye and quote them a price HIGHER than what shows on the register and on the receipt (and be ready to explain why you are overcharging them), or while you ring up the pre-tax price be able to do some quick mental math to be able to add a few extra cents to the last item so that after the tax is applied it rounds up to the next nickel. Quote:
"why do all of America's best presidents get assassinated" Lincoln was a pretty good if not great President, Kennedy moderate. But I really don't see too many people putting Garfield or McKinley on the Best President list. |
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Valued Member
United States
293 Posts |
Jbuck wrote: Quote:
"First, getting rid of the cent is not political, it is fiscally responsible. The truth is that NOT getting rid of the cent IS political." I will address the POLITICS of it. The most important political element would be beating the zinc lobby in Congress. That will not be easy. Then add the company that produces the planchets for the mint. They will NOT want to loose that revenue. The other part of the debate will come from people and members of Congress who would accuse this as inflationary. Obama will most likely avoid this issue. He has stepped on enough political landmines as it is. Some were self inflicted and others were not. This would be a self inflicted one if he chose to do but then what would he gain out of it? Remember most politicos by nature are most interested in an idea whose time has come not necessary because it is the right thing to do. *** Edited by Staff to add quote tags. Please use them in the future. Posts are very difficult to read without them.*** |
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Posted 02/19/2015 10:01 am
