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Pennies Worth 5 Cents Each?

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Author Previous TopicReplies: 4 / Views: 986Next Topic  
Pillar of the Community
Thundercoin's Avatar
United States
675 Posts
 Posted 01/24/2007  5:42 pm Show Profile   Bookmark this topic Add Thundercoin to your friends list Get a Link to this Message Number of Subscribers
Pillar of the Community
Spider5689's Avatar
United States
2269 Posts
 Posted 01/24/2007  5:50 pm  Show Profile   Bookmark this reply Add Spider5689 to your friends list Get a Link to this Reply
Interesting article, I believe the penny is coming to an end soon. There are too many reasons out there, not to keep the penny, and few to keep it. I would like to see the Lincoln Cent to last another 100 years, but that seems unlikely.
Rest in Peace
Gary Burke's Avatar
United States
3730 Posts
 Posted 01/24/2007  6:51 pm  Show Profile   Bookmark this reply Add Gary Burke to your friends list Get a Link to this Reply
Do away with the penny, but continue minting them for collectors only.
Pillar of the Community
jcook54's Avatar
United States
533 Posts
 Posted 01/24/2007  7:18 pm  Show Profile   Bookmark this reply Add jcook54 to your friends list Get a Link to this Reply
I agree, the penny is not long for circulation. To most it seems like a waste. In fact, the CFO of my company (the cheapest guy I know) admitted the other day that even HE would not stop to pick one up!
Pillar of the Community
United States
2600 Posts
 Posted 01/24/2007  8:23 pm  Show Profile   Bookmark this reply Add Jim1953 to your friends list Get a Link to this Reply
Have not thought it thru, but there seems to be way to many issues to stop the penny. The first is sales tax. Any odd cent tax would immediately be adjusted up to the next divisible amount by 5. So, 3% becomes 5%. Hmmmmm, the states would love this, an automatic tax increase caused by the Feds, wow even someone to blame. No odd cent amounts like a 37 Cent stamp, can't make change. Cost of living index would move up immediately as all odd cent prices of products would be adjusted up and , OH MY, inflation just moved up 2 or 3% and Bernanke is raising the Fed Fund rate to keep inflation under control. And, gas prices will no longer be measured in 10ths like $2.07 9/10 so energy prices just went up. Naaaaaaaa the penny, oppps cent, is just to important. Now, the nickel can be replaced by 5 cents so we really don't need it yada yada yada.
Jim
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