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 Replies: 49 / Views: 3,107 |
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Moderator
 United States
188629 Posts |
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You round your prices up and I'll round mine down My prices will be lower and I'll pick up more business and I will make more money than you do.  Some people just cannot understand that, so I did not even bother arguing it this time. Quote:
As for the idea about reducing the mintages so as to encourage the cents to come back out of the penny jars. It won't work. It would create a shortage of cents for change. There have been cent shortages before and it didn't get the coins to come back out. I think that if there were to be a shortage and people were getting "short changed" all the time, then a respectable percentage of those people would be smart enough to say I need to start keeping some of those extra cents (from that jar I have been keeping for years) on me so I do not overpay. However, since we agree that "short changing" will be the exception, not the rule, I will acknowledge that you are probably correct. My "mintage reduction" scenario would not flush out those hoards and probably create more problems. Quote:
The second is the same result as if you just stop coinage. So scaling back mintages has no advantage, and merely causes a lot of annoyance. I see your point and I have to agree, especially since I voted for "Stop Mintage" in the poll.  |
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Pillar of the Community
United States
632 Posts |
One thousand seven hundred and ninety four.......one thousand seven hundred and ninety five.......one thousand seven hundred and ninety six! Wow, this is the one thousand seven hundred and ninety sixth time this topic has been discussed on the forum!  |
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Moderator
United States
188629 Posts |
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Wow, this is the one thousand seven hundred and ninety sixth time this topic has been discussed on the forum! So, are you saying that this topic now displaced the various "Time Travel" and "If you inherited/won" topics as being the most recycled?  |
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Valued Member
 United States
54 Posts |
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Argument against the "CON". You round your prices up and I'll round mine down My prices will be lower and I'll pick up more business and I will make more money than you do. The "I'll make a little less but make it up in volume" argument.
That is true. But it will be bad for the rural people. If the closest gas station has raised it's prices to the nearest 5 cents and the next gas place is 30 miles away. You'd be wasting money going 30 there and thirty back. But not in great quantity. But it'll be great for the gas guy. |
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Moderator
United States
188629 Posts |
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That is true. But it will be bad for the rural people. If the closest gas station has raised it's prices to the nearest 5 cents and the next gas place is 30 miles away. You'd be wasting money going 30 there and thirty back. They should only round up the total, not each gallon, especially since electronic purchases will still be to the nearest cent. Besides, that solitary rural gas station probably has jacked up prices already! Another four cents is not going to make much difference to the locals! |
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Pillar of the Community
United States
1807 Posts |
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Pillar of the Community
Canada
650 Posts |
I think it should have been dispensed with ages ago. If you consider the value of a 1 cent piece say back 100 years ago to today it would have the buying power of 4 to 5 dollars , The wage was around $5.00 a day compare to today, and it seems crazy that we keep them. PS I love collecting cents, just think there a nuisance as change.
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Pillar of the Community
United Kingdom
2217 Posts |
I think they should stop minting them, the price of the copper almost exceeds value of the coin itself and it only has a value slightly above 0.5 pence British, so I don't see the point in having such a small coin except for making change from prices that end in a 0.99. For the latter reason I don't see the end of the cent piece coming any time soon but personally I would do away with it.
Edited by NumisMattyUk
11/17/2008 12:55 am
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Valued Member
United States
207 Posts |
I like the penny. I just wish our other main coinage had lady liberty on it again
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Pillar of the Community
United Kingdom
2217 Posts |
I wish they had Sacagawea
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Valued Member
United States
207 Posts |
That would be interesting. I wonder if they are going to change the penny after its 100th anniversary? Are they going to go back to the normal look or are they staying with some other image(s) on the reverse? I have not read any of the articles on it except for the 4 reverses they are adding in 2009.
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Moderator
United States
188629 Posts |
They are going to change the reverse for 2010 and forward. From Wikipedia: Quote:After 2009, yet another redesigned reverse for the Lincoln Cent will be minted; this "shall bear an image emblematic of President Lincoln's preservation of the United States of America as a single and united country," and so the Lincoln Memorial reverse will be replaced again. From the Legislation: Quote:
SEC. 303. <<NOTE: 31 USC 5112 note.>> REDESIGN OF REVERSE OF 1-CENT COINS AFTER 2009.
The design on the reverse of the 1-cent coins issued after December 31, 2009, shall bear an image emblematic of President Lincoln's preservation of the United States of America as a single and united country. |
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Bedrock of the Community
United States
17884 Posts |
Or they may finally drop them. I recently saw where the Mint had extended their contract with Jarden for the production of copper plated zinc cent planchets. The extension expires 12/31/2009.
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Moderator
United States
188629 Posts |
Anything is possible. It is a legislative requirement, not a constitutional one, so it is relatively easy to change.
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Valued Member
United States
115 Posts |
Is there any particular metal composition they could use to keep the cent but make it cheaper?
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Replies: 49 / Views: 3,107 |
First Page
Posted 11/14/2008 2:30 pm
