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 Replies: 22 / Views: 2,379 |
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New Member
United States
36 Posts |
I think if you made them real small nobody would use them, they highly under value them now.
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Valued Member
United States
277 Posts |
Look at the euro cents. They are tiny.
As for the value of a cent, try not giving the pennies of change to a customer. I'd bet you'd get more argument about not giving the correct change than cheating someone out of 4 cents, but they would notice.
Fatcat
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Moderator
 United States
189213 Posts |
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reminds me of annodized aluminum. Please do not give our government any ideas! We might end up with colourized coins!  Quote:
We went from a copper cent to a copper plated zinc penny and it did not change the way it is graded. An interesting topic that can be debated on its own. Over the last several years, modern coin dies have increased in detail and decreased in relief; both can affect wear and arguably grading. Compare a recent uncirculated Lincoln Cent to one from the copper era. Or any recent denomination to one from twenty years ago. Frightening! Quote:
I would agree--our cent isn't necessary for trade and it's wasteful.  IMHO, the Lincoln Cent should be NIFC starting in 2010. |
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Valued Member
 United States
99 Posts |
if we do away with the cent then gas prices instead of rising 6 cents it would be 10! or .... instead of 11 cents its 15!! AHHH
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Moderator
United States
189213 Posts |
We would still have the cent "on paper" or more accurately, in the computers. ACH, Checking, Credit/Debit Card, Money Orders, and all other Electronic transactions would still be calculated to the cent.
Even if the Mint stopped making the cent today, I feel it would be several years before they would be completely gone from circulation. People would start using up the change jars and banks would be clearing out their boxes, even if some people ended up hoarding more of them for perceived numismatic value.
The cent is given no respect now, people toss them away, so what would really change?
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Pillar of the Community
United States
1231 Posts |
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if we do away with the cent then gas prices instead of rising 6 cents it would be 10! or .... instead of 11 cents its 15! AHHH This wouldn't be true. If the price of gas went from $3.509 to $3.569 it would still be per gallon. You wouldn't round each gallon to $3.609 You would ony round the total purchase. So if you got 15 gals @ $3.569 it comes to $53.54 and if that was rounded it would only change by a cent to $53.55 |
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Pillar of the Community
United States
1208 Posts |
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if that was rounded it would only change by a cent to $53.55 Love the way you say "ONLY". That is why gas stations keep using the 'mill'. That tiny little "ONLY" adds up to huge numbers. Now if you make it mills and pennies, it will be used in such a way to always be rounded up and line their pockets. Just like the mill is always at "9". You never see a gallon of gas with the mill rate at "4", do you? They'll do the same with the cent if folks like you give them the chance. It may ONLY be money to you, but please don't speak for me. |
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Pillar of the Community
United States
5318 Posts |
"They'll do the same with the cent if folks like you give them the chance."  I don't see how removing a physical currency unit changes any businesses unit cost. Let's bring back the Half Cent! Meanwhile, the petrol. industry could still set retail price by 1/100, 1/200, 1/1000--whatever they like! Any minute fraction of unit cost is multiplied by total units, then rounded up or down as total units--not individually. This calculation is rather transparent; I don't see a conspiracy to defraud the consumer here. Edited by KurtS
05/21/2008 6:24 pm
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Moderator
United States
189213 Posts |
Ten gallons of gas at $3.999 per gallon will cost you $39.99, not $40.00. If we got rid of the cent and you paid cash, then it might be $40.00, or it might be $39.95 if the seller wants to offer an "advantage" that his competitors might not. Many gas stations discount cash payment now anyway. The world would not end if the cent were eliminated from cash transations.
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Bedrock of the Community
United States
20753 Posts |
i guess what keeps running through my head is that there may be some inconsistancies in metal mixture giving coins a natural difference in tone due to the batch of metal it was made from... I couldnt imagine they could melt and mix all of the metal needed for the billions of pennies they will mint in 2009 at once... so if its done in batches I expect to see some differences...
I don't know how to quote or even if there is one here. So I just copy and paste. As to the concern of metal mixes, it is no problem at all. If you notice the composition of almost all our coins they are presently a mixture. Take the 1959 cent. It is .950% Copper and the rest Zinc and Tin. If the amount of Tin or Zinc varies by a .001%, I don't think anyone would notice, care, complain or even wonder why. Metals everywhere are usually a mixture of different metals. Take your so called Stainless Steel. Look it up. There are virtually hundreds of variations in the mixture and no one even notices except doctors that require Surgical Stainless Steel.
If our cents were to be made of Steel and the mixture was not perfect, I highly doubt anyone would notice or care.
Now if they do change the composition of the cent and save us all millions and millions of dollars. OK so they do. Now just where does that money go? Do you think your income taxes will go down?
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Moderator
United States
189213 Posts |
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I don't know how to quote or even if there is one here. Just put [ quote ] before whatever you want to quote, and then [ /quote ] after it. Do not put the "spaces" in there; I inserted them to prevent doing an actual quote! Quote:
Now if they do change the composition of the cent and save us all millions and millions of dollars. OK so they do. Now just where does that money go? Do you think your income taxes will go down? Once you give the government your money, they are reluctant to give it back to you. Unless their approval rating is down, then you might get a "stimulus check" to make you feel better. |
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Valued Member
United States
128 Posts |
Not to take sides but... Kurt is right. Frankly you would not see a difference at the end of the day, week, month, or year. Rounding would happen in both directions i.e., if your total bill on any purchase was 1.01 or 1.02 you would pay one dollar if it were 1.03 or 1.04 you would pay one dollar and 5 cents. In the end I believe you would see little difference in your out of pocket cost.
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Moderator
United States
189213 Posts |
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Valued Member
United States
76 Posts |
Interestingly, attitudes are already changing in regards to cents. Some stores have bowls sitting by the register with cents in them for customers to use as needed. I have seen patrons place their cents in the bowls as they leave, or tell the cashier not to bother with them. (Must not be collectors.) An indication of their lack of real and or perceived value. What substance could they be made of in order to remain at a lower manufacturing cost than face value with inflation continuing at present levels?
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Valued Member
United States
381 Posts |
How many of you have a coin jar that all your change goes into at the end of the day? I do and my daughter raids it once a month and get at least $40.00 bucks out of it! And I would say 7 or 8 of it is in penny's! Add that over time and see if you agree. 80 Bucks a year in monies? Like a said before they should lower there cost.
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Replies: 22 / Views: 2,379 |
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Posted 05/21/2008 10:05 am
