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Pennies Should Be Done Away With In The USA

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Pillar of the Community
United States
3041 Posts
 Posted 08/03/2021  6:07 pm  Show Profile   Bookmark this reply Add Dearborn to your friends list Get a Link to this Reply

Quote:
You are singing my tune.


Thank goodness I'm tone deaf!

I love my coinage... If (when) the mint stops the 'cent' and '5 Cent' for circulation, I would hope they keep it up for collectors.
Valued Member
United States
162 Posts
 Posted 08/03/2021  8:43 pm  Show Profile   Bookmark this reply Add Raised on rock to your friends list Get a Link to this Reply
Many businesses in our area keep a penny jar close to the till and cover the odd cents. then no pennies in change, which I want.
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United States
103630 Posts
 Posted 08/04/2021  09:54 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
If (when) the mint stops the 'cent' and '5 Cent' for circulation, I would hope they keep it up for collectors.
You know they will. They have kept giving us the NIFC half dollar and dollar coins.

Again, no brainer, make that NIFC cent bronze and they will have a hit!
Pillar of the Community
United States
1544 Posts
 Posted 08/05/2021  10:40 am  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
Cents are more cost efficient to produce than nickels are. So get rid of the cent, get rid of the nickel too. the Nickel is an even bigger loser.
But don't blame me when the costs of everything goes up even more than they already do.
We can get rid of the cent, the nickel, and heck we won't need the quarter anymore either you'd need the nickel to break a quarter so that's got to go too, get rid of the quarter and you won't need the nickel, and once you are at that point the dime is just stupid also so get rid of that and the new cent is the half dollar!
WINNING!!!!

Edited by Big-Kingdom
08/05/2021 10:41 am
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United States
103630 Posts
 Posted 08/05/2021  12:00 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Costs have already gone up. A lot. This is why the cent and nickel are losers now and yes, continued increases are why the others will be losers later. Inflation is a byproduct of economic expansion.

Getting rid of the cent and nickel will not accelerate inflation, especially when more than 85% of all transactions are electronic (they will continue to use the digital cent) and most cash transactions will be rounded down to the nearest nickel/dime/whatever (because if you do not round down, your competitors will, and keeping in mind that rounding down cash is cheaper than paying the networks their cut on the electronic transaction).
Bedrock of the Community
United States
17120 Posts
 Posted 08/05/2021  6:22 pm  Show Profile   Check BadThad's eBay Listings Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
Keep dreaming, there are powers in gov that want to keep them. That said, I totally agree with the OP!
Lincoln Cent Lover!
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United States
103630 Posts
 Posted 08/06/2021  5:32 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Yup. It is almost the very definition of a lost cause.
New Member
United States
18 Posts
 Posted 08/07/2021  2:57 pm  Show Profile   Bookmark this reply Add pennyweight to your friends list Get a Link to this Reply
There will have to be a tax adjustment if they get rid of the pennies. A straight 10% and everything ends in a 5 or a 10? Tax in California is already at 8.5% I think, it might jump to 10% if no pennies. Every state might jump to 10%?
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United States
103630 Posts
 Posted 08/09/2021  12:00 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Negative. Do not conflate cents with percents.

Your 8.5% sales tax works just fine without a Half Cent coin, right?

Remember, the total purchase is taxed and that final total is rounded to the nearest cent now. No reason to not round to nearest nickel, dime, quarter. You get the point.

If it were up to me, we would jack up sales taxes and kill all income and property taxes. Imagine the sales tax revenue on Bezos' rocket ride. It would be a good way to get baldy to pay his fair share.

Yes, I am bald, I get to call him baldy...
New Member
United States
5 Posts
 Posted 08/11/2021  11:17 pm  Show Profile   Bookmark this reply Add Zilog to your friends list Get a Link to this Reply
I'm sorry if this is off topic, but why exactly DID the Mint choose pennies to be made of Zinc? It's well known that Zinc is toxic if swallowed in large amounts, and it also corrodes really easily. Why not aluminum (like Japan) or stainless steel (like the EU)?
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United States
103630 Posts
 Posted 08/12/2021  09:31 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Because Jarden (previously part of Ball) lobbied hard for them to buy their zinc.
Bedrock of the Community
United States
17480 Posts
 Posted 08/12/2021  6:06 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Aluminum has the problem that most people reject it because it is too light, it also has the problem that in high speed counters they can actually weld themselves together (At least according the commission that has spent the past ten years trying to find s negative cost material that would allow cent to be made for less than a cent apiece when the manufacturing cost is over 1 cent not including materials.)

Stainless steel has the problem of not striking up well so they would have to take those very low relief cents and lower the relief even more. The EU can get away with it for two reasons, some of the countries have already dropped production of the Eurocent, and the mintages are much lower than our cent so they can run the presses slower and give the material more time to strike up.
Gary Schmidt
Pillar of the Community
United States
2370 Posts
 Posted 08/14/2021  7:34 pm  Show Profile   Bookmark this reply Add Oldfordman to your friends list Get a Link to this Reply

Quote:
I for one, pick up every cent I see on the ground.

Me too.
Pillar of the Community
United States
2370 Posts
 Posted 08/14/2021  7:38 pm  Show Profile   Bookmark this reply Add Oldfordman to your friends list Get a Link to this Reply

Quote:
Also, in my opinion, the one and two dollar bills should be eliminated and replaced with coins. I hate to say that because two dollar bills are cool, but realistically we don't need them.

I have once heard that common bills up to the $20 last about 6 months circulating quickly in an urban area. A coin can last over 50 years. It is much more expensive to make 100 paper bills than 1 coin. I believe that $5s $10s and $20s should also be coins. Then the mint can not gain to this country as much debt per year as it does.
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