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 Replies: 38 / Views: 4,356 |
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Valued Member
United States
268 Posts |
Poll Question
I read an article in a magazine and it said the penny should stop being minted . Then it had all these reasons the one I found most interesting was that the penny is worth too little. It also said that the penny could be replaced by a rounding every thing to the nearest nickle.Now I do not think it should stop being minted. One last thing this is for new collectors. The penny costs more to be made then it is worth. The article said that the state of Washington want to get a bill signed that would stop the penny from being used in there state, via 1998.Please let me know what you think. Results
| Yes it should |
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67% |
48 Votes |
| No it shouldn't |
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33% |
24 Votes |
Poll Status:
Locked
Total Votes: 72 Counted
Last Vote:
01/12/2012 08:33 am
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Pillar of the Community
United States
1796 Posts |
The most responsible thing to do would be to let the penny go the way of the half dollar: Not intended for circulation. Economically speaking, they're worse than worthless, they cost much more than they're worth to produce and keep in circulation. Where at one point you could go into a sweet shop and get a bag of candy for a cent (I love that scene in It's a Wonderful Life), nothing costs a penny anymore, so they're also useless. To put this into perspective, when the mint discontinued the Half Cent in the 1800s because it was too small a denimination, it was worth about 11 modern cents. So to modernize our money, what we *should* do is: 1) Eliminate the penny from circulation. 2) Debase the nickel. 3) Eliminate the $1 bill and go exclusively with the $1 coin. 1 & 2 admittedly sadden me as a roll hunter. |
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Pillar of the Community
United States
809 Posts |
Keep making them...for collectors! Look at my name!  |
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Pillar of the Community
United States
784 Posts |
I think yes, but I'm going to say no. only because I love roll searching.
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Valued Member
United States
466 Posts |
if they stopped minting pennies would they still circulate or would they be bought up by banks and the fed to be destroyed?
I haven't really heard about how that would happen.
Would it be like when countries change their currency and you have until a certain date to turn it in for new stuff or else it is worthless?
I wonder, has anyone heard of how that process would work
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Bedrock of the Community
United States
10045 Posts |
 Stop them for circulation; they're completely unneeded for commerce. Strike them in bronze for collectors only. |
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Pillar of the Community
United States
2651 Posts |
I would like to point out that this topic has been polled multiple times and discussed.
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Pillar of the Community
Canada
1700 Posts |
There's still quadrillions of omega zillions of pennies left in circulation, for both Canada and US. Cents nowadays are to meet taxed pricings.
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Valued Member
United States
253 Posts |
I go along with stop making them and let the attrit out of circulation naturally. Eventually they will go the way of the half dollar.
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Bedrock of the Community
 United States
12815 Posts |
It would be sad to see an icon go, but it needs to happen. Keep 'em coming for collectors like the 50 cent piece and (now) the Presidential dollars. |
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Valued Member
United States
187 Posts |
I think the penny should stay. If the penny goes, then what may be next? Think about this, when is the last time you dug into your pocket to spend a nickel?
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Valued Member
United States
197 Posts |
Isn't it odd that pre-1982 cents are the only U.S. coins in wide circulation whose metal value equals or exceeds its face value, and yet the cent is the one there's talk of eliminating? I'd favor eliminating it, if only to make the one's I've squirreled away more valuable.
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Pillar of the Community
United States
1903 Posts |
Actually the nickel's metal value exceedes it's face most days ( as of 1/6/12 it is worth 5.2 cents and has been much higher ). And why are we dickering over eliminating it or not.....my guess is the gov't will eliminate cash all together so they can track ALL our worth electronically. Sounds far fetched, but when the gov't gets even more hard up for ways to tax us....what better way than to get rid of "untraceable" cash. It has been brought up before by politicians and am sure it will again. A cashless society is in our future regardless if we want it or not.
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New Member
United States
5 Posts |
For all intents and purposes it's already being elimated by retail businesses. If you don't have the odd penny to complete a purchase then cashiers ignore it. Everything could be rounded up or down and it would average out over time. We do that at the gas pump everyday with the 9/10 cents.
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Bedrock of the Community
United States
10635 Posts |
As Jayman has pointed out, this topic has been brought up in countless other threads here. Besides, it's not like we can do anything about it, one way or another, so keep collecting them while you can.   |
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Pillar of the Community
United States
1796 Posts |
@regularguy - Rather often actually... But then again I always pay for small items (such as at a coffee shop) in a combination of $1 coins, half dollars, and Westward Journey nickels because I love the look of awe and wonder on the faces of cashiers. :-)
However, the nickel must either be debased or die if we're going to have a responsible currency system... :-(
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Replies: 38 / Views: 4,356 |
Posted 01/07/2012 10:38 am
