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 Replies: 20 / Views: 2,637 |
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Pillar of the Community
527 Posts |
http://www.chicagotribune.com/news/...621649.storyQuote:
They cost too much to make. They weigh down your pockets. Retailers hate counting them. As a unit of value, they're practically worthless.
Why, oh why, can't America bring itself to eliminate its pennies?
Abe Lincoln's craggy profile is the only thing we'd miss about those obsolete brown circles spilled across dressers and nestled in seat cushions coast to coast.
Sentiment aside, the argument for keeping the penny isn't worth a cent.
On Capitol Hill, the coin's best friends are the mining companies and the counting-machine makers who have a financial interest in its continued existence. Some pro-penny advocates have resorted to scare tactics over the years, warning that retailers would rip off consumers by rounding up all prices to the nearest nickel. That might apply to single items exempt from sales tax with prices ending in nine. But there is no reason to believe the transition to a penny-free economy by itself would result in sweeping inflation.
Anyone looking for a solution to the nation's penny problem doesn't have to look far. As with banking regulation and the recipe for a proper poutine, America's neighbor to the north has got it right.
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Pillar of the Community
United States
1150 Posts |
I agree.
However, it is only worthless because of inlfation. There was once a time when it would buy stuff...and we can thank politicians for messing with that up just like they screw up everything else.
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Bedrock of the Community
United States
10045 Posts |
 Keep the cent in proof sets--and restore the original relief to Mr. Lincoln's portrait. |
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Valued Member
United States
292 Posts |
Or move Lincoln on up to the $1 coin.
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Valued Member
United States
318 Posts |
Round all transactions up to the nearest nickel, store donates to charity at the end of the year. Or throws a party for employees.
Dealing with pennies in change costs more than simply losing out on the 1, 2, 3, or 4 cents per transaction.
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Pillar of the Community
United States
1211 Posts |
ContraJame, thats a great idea. Ditch the penny, get rid of the pres dollars and use the Lincoln Penny portrait (or even his pres dollar portrait) for the dollar coin. Until this, I liked the idea of the Sac dollar only, but I would end that series in favor of Lincoln. I like it. |
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Pillar of the Community
United States
1007 Posts |
The Lincoln Cent is here to stay. The company that produces the zinc for the coins has some very aggressive lobbyists in Washington. The American taxpayers will have to keep spending big bucks for corporate welfare for these now worthless small metal discs. We have enough dead Presidents on coins. Can't the US Mint come up with something else? I like Native Americans, Miss Liberty and wildlife so how about focusing on something new? The same goes for the $1 banknote. The one company that furnishes the paper for the bills lobbies to keep producing them. Got to get those lobbyists out of Washington. Edited by matchbox
04/04/2012 4:21 pm
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Pillar of the Community
Norway
510 Posts |
For comparison, Norway have just phased out the 50 øre coin. The value of this discontinued coin is currently between 8 and 9 US cents. Our lowest remaining coin, 1 krone, is worth twice that amount.
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Pillar of the Community
United States
1348 Posts |
I wish this would happen, but I think the penny will be here for a long, long time. sigh
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Moderator
 United States
187702 Posts |
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We've got a better idea than spending taxpayer dollars to engineer a cheaper penny. Get rid of it. And while we're at it, let's learn another lesson from Canada and start using one-dollar coins. Could not have said it better myself.  I am glad to see this getting some attention in the more traveled areas of the fourth estate. |
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Pillar of the Community
United States
1653 Posts |
My morning coffee and muffin costs $2.71 - I always say keep the quarter, I'll take the pennys! That's four cents a day I get to check for copper! Got a wicked nice 1944 LWC last week, so selfishly, I'm for keeping the cent! |
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Moderator
United States
187702 Posts |
To that I say, enjoy it while you still can! |
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Bedrock of the Community
United States
10045 Posts |
Quote:
For comparison, Norway have just phased out the 50 øre coin. I recently returned from a visit, where I seldom received the 50 øre in change, and seldom found reason to spend one. At some point, we need to cut through the politics and simply make pragmatic choices here in the US. |
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Bedrock of the Community
United States
20753 Posts |
I still think we should keep the Penny.
1.Most kids like them, collect them, play with them.
2. One of the most commonly used coins for wishing wells. 3. Many Zoos and Museums have machines that turn them into trinkets for kids. 43.Great to use for a tip with a waitress that gives you poor service.
5. Banks need them to give you that real low rate on your savings accounts.
6. Gives many people with little to do to have something to complain about.
7. Coin collecting companies that make Albums and Folders have to much invested in them to change.
8. To many songs that use the word Penny would have to be abandoned.
9. Most people in the USA are just to hard to make changes anyway so why bother. Remember the Metric System we were all going to be using in a few years?
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Pillar of the Community
United States
1796 Posts |
@ContraJame - I'm with HONDO. That's a good idea re: Lincoln. He deserves an upgrade. :-)
@just carl - Don't forget all of those chinks in national monuments that people keep shoving them in! .. No wait dimes work better for that. :-)
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Pillar of the Community
United States
1256 Posts |
Quote:
Great to use for a tip with a waitress that gives you poor service.
A penny on top of the tip means great service  |
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Replies: 20 / Views: 2,637 |
Posted 04/04/2012 3:58 pm
