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 Replies: 64 / Views: 8,376 |
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Pillar of the Community
United States
2271 Posts |
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Those wealthy enough to not need every cent to make it each month are wearing rose-tinted glasses and not realizing what the rest of the people have to use. It is VERY connected to the reason cents and nickels are required. Some people leave them in those trays at stores labeled "Have a penny leave a penny. Need a penny take a penny" while others only get by because those trays exist. too many people that don't use coins that often are wearing blinders to hide them from reality. No! Pennies destroy wealth and it disproportionately destroys the wealth of the poor. A rich man doesn't shop in stores where the customer in front of him is counting out pennies. A rich man doesn't need to check his sofa cushions for coins to buy a candy bar. Rich people don't send their children to gather pennies for charity drives. These thigs destroy wealth rather than create it. If there were no pennies you'd just find dimes and nickels in your sofa rather than wateful pennies. The kids might get more donations and they wouldn't need a truck to take all the pennies to the bank and disrupt a tellers time all day in counting them. We wouldn't lose money everytime a penny was made if none were made. Everyone would be a little richer and this would affect the poor the most. Nothing is free but at least they wouldn't be saddled with less than worthless toxic slugs that litter our landscape and poison small animals. Of course our economy is about 3% efficient and pennies will help future generations understand how we can waste so much and care so little. It will help them grasp how we fight waste with even more waste. It willhelp them understand that fuel for government is lobbying and that waste is sacrosanct. Maybe we should fight to keep the penny. In light of the mountainous waste pennies tell the tale in terms children can understand and a few billion pennies each year is nothing at all compared to turning out graduates from school who can't read and write. Time don't fly, it bounds and leaps.
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Pillar of the Community
Canada
2805 Posts |
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The current generation working as cashiers aren't even educated enough to do basic math when counting out change from the register to give you 46 cents back. That is why you end up with 4 dimes and 6 cents instead of a quarter, 2 dimes and a cent and that is with the register doing the math for them and telling them the exact amount to give you back. Yeah, instead of 46 cents, you get... 46 cents. Who cares? The register does the rounding for you, too. (Hey, I'm part of the current generation!) Quote:
If the cent and/or nickel would be eliminated, I don't see businesses rounding down. After all, they would look at those "lost cents" as lost revenue. They would round up. Not in Canada. Here's the big thing - we are collectors. We are the only people who care about pennies so we project it onto everyone else. Nobody else even bothers with them. |
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Pillar of the Community
1325 Posts |
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I know. He's trying to pretend like he is someone who doesn't exist. Yeah I am just a ghost in the machine trapped in the internet as data, but able to post on these forums and produce pictures of coins no one else possesses.   |
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Moderator
 Australia
16837 Posts |
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has the mint given ANY reason why they don't use aluminum? Back in 1973, when efforts to introduce an aluminium penny were defeated, several reasons were given for not proceeding: - Aluminium looks cheap and feels cheap. - Vending machine lobbyists said it would jam easier. - X-ray medical technicians were worried that aluminium coins would be invisible on x-rays when swallowed. Successful lobbying from the copper industry helped too, of course. All of these reasons have been superseded by now, but there may still be the mentality in the mint that "we looked into aluminum back in the 70s and they found reasons to reject it". Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
1325 Posts |
the lobbyists I can understand since they are just conivers and shemers... but xrays? really? did anyone try to xray a leather wallet with aluminum in it? how hard can that test really be? stick a wad of aluminum foil in a pork shoulder and see if you can see it on the xray.... why does aluminum look and feel cheap? that is the cleanest part of my computer! the copper and even gold/silver areas attract more dust than anything! aluminum heatsink, just shiny and happy. not to mention aluminum can be washed with water and little damage, because we have had aluminum pots since BEFORE the 70s!
Maybe someone needs to put the bug in their ear again to try aluminum and same as the vending machine companies, tell them to accept both aluminum coins and $1 coins, or get out of the business!
too many lobbyists and with the "copper theft" going on, now is the time to switch to something like aluminum where a soda can is worth more than a cent worth of aluminum and LET people steal the soda cans from the side of the road if they want!
or maybe that is the biggest fear. anyone with a soda can could counterfeit an aluminum coin? because that would be such a high profit off of something that is worth 90 cents per pound to make 181 cents. if cost to manufacture was negative, then is the only way anyone could profit, because it would cost more to make the darn things that the pound of aluminum would be worth.
thanks for the timeframe so I can look it up somewhere since it happened before my time.
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Moderator
Australia
16837 Posts |
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...but xrays? really? Hey, I'm just quoting Wikipedia, which posted a reference link to this 1982 abstract from a Pedaitrics journal, where they seem pretty proud of helping sink the aluminium penny and give their thumbs up to the new zinc formula, which is not invisible to x-rays. Quote:
why does aluminum look and feel cheap? Partly because it is cheap, and everyone knows it. But also because many newly-independent third-world countries at that time were using aluminium for their smallest-denomination coinage - coinage which quickly became worthless with inflation. It probably also didn't help that every single member of the "second world" - all the communist countries - used aluminium coins for almost all their denominations, and it was widely known that communist countries deliberately made money out of "worthless" things for doctrinal reasons. In short, they felt that switching to aluminium would be an admission that the US dollar was failing just as badly as everybody else's money, albeit slightly slower. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
1476 Posts |
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Pillar of the Community
1325 Posts |
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they felt that switching to aluminium would be an admission that the US dollar was failing just as badly as everybody else's money well whoever they are is just stupid. once of the gold standard, US money could be made out of used kleenex and a quarter would still be worth 25 cents, same for a cent being worth $0.01. I say used kleenex because that is effectively what every bill turns into after a few months. at least coins you can was of the bacteria and nasty of them, but a dollar bill you can. just carry someone else's filth around with you all the time, nasty cologne's and perfumes to make you choke and gag and anything else that gets in the cloth/paper it is made from. paper is cheap, wish I could get my hands on the "they" and slap some sense into them with a wet spaghetti noodle. |
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Pillar of the Community
Canada
2805 Posts |
Banknote cloth/paper soaks up the grime, almost every note has a little bit of cocaine in it because the fine powder is so small it goes through the fibers and can contaminate a whole stack of notes from just one.
At least polymer is waterproof... and less disgusting.
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Pillar of the Community
United States
2368 Posts |
Ugh. I just read an article on contaminated dollar bills. Here are some of the figures: 7% of bills tested had "dangerous pathogens" including pneumonia, staph, E. coli, MRSA, salmonella, and influenza. 90% of bills had traces of cocaine, 70% had heroin, 30% had methamphetamine, and 20% were contaminated with phencyclidine (PCP)  Sweat, mold, and yeast were also turned up in the study. I think I need to wash my hands. |
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Pillar of the Community
United Kingdom
837 Posts |
@ nalaberong & wheatchaser Its funny you both mentioned this because another study of banknotes in London showed that a ridiculously high percentage tested positive for traces of cocaine  Quote:
wish I could get my hands on the "they" and slap some sense into them with a wet spaghetti noodle.   |
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Rest in Peace
United States
1729 Posts |
So the logical thing to do would be to use the Lincoln Cent design on a new 2¢ coin, eliminate the nickel, stop printing dollar bills, and make sure that banks and credit unions had a plentiful supply of dollar coins. Yes, I spend all my coins (except for the supply of dimes and quarters I keep in my vehicles for parking meter money), and I buy a roll of dollar coins every month from a bank and spend them - they make great tips! |
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Pillar of the Community
United States
2271 Posts |
Quote:So the logical thing to do would be to use the Lincoln Cent design on a new 2¢ coin, eliminate the nickel, stop printing dollar bills, and make sure that banks and credit unions had a plentiful supply of dollar coins. A Two Cent coin would be exactly as worthless as a penny but would be even more wasteful since 35 billion nickels would suddenly become obsolete. What they should have done in 1982 was restrike pennies into 2 1/2 c coins and removed a small plug of metal from the enter to cover the cost and protect the denomination for decades. It's too late now because half a nickel is worthless. The penny needs to go because it's an albatross on the economy. It makes no sense to spend a dime to make a nickel. The village idiot can grasp this concept but no one in Washington gets it. Something must be done with the nickel and the cheapest thing to do is to recoin it and withdraw the existing nickels for their metallic value. Aluminum would be best but if they can't do this then stainless steel is the only logical choice. Of course stainless isn't really stainless anymore since the LME defualted but what we have is good enough for 5c pieces. Aluminum will show up on modern xRays especially if it's as thick as a nickel. They can see anything they set the machine for. A few might be missed but it's hard to believe that this would be worse than highly poisonous zinc. Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
2271 Posts |
Getting back to the subject a little, they make so many coins because this is the deficit between the supply of coins in the system and the demand for coins. Most of this deficit is caused by the lack of circulation of the cent and nickel. It's caused by the separation and removal of copper pennies. It's caused by people throwing away and dropping pennies which aren't retrieved. Much of the deficit is caused by coins lost in commerce through happenstance and it is caused by a growing economy.
Most of the short term changes in demand are caused by how long people allow their coins to accumulate in a jar before they redeem them. Even in the old days people didn't spend all their change and tended to accumulate 1c and 5c's. When times are tough people turn their coins in sooner. In boom times they are less likely to need the cash so just let them accumulate.
Time don't fly, it bounds and leaps.
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Pillar of the Community
1325 Posts |
So we are in bad times if the need for more and more cents and nickels exist because people are holding onto them rather than turning them in.
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Replies: 64 / Views: 8,376 |
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Posted 07/08/2014 3:52 pm
