Coin Community Family of Web Sites Join Thousands of Coin, Bullion, & Money Collectors
Royal Canadian Mint products, Canadian, Polish, American, and world coins and banknotes. 300,000 items to help build your collection! Vancouvers #1 Coin and Paper Money Dealer Specializing in Modern Numismatics Coin, Banknote and Medal Collectors's Online Mall Join Thousands of Coin, Bullion, & Money Collectors Royal Estate Auctions - $1 Coin Auctions








Username:
Password:
Save Password
Forgot your Password?


This page may contain links that result in small commissions to keep this free site up and running.

Welcome Guest! Registering and/or logging in will remove the anchor (bottom) ads. It's Free!

United States Penny And Nickel Discontinued?

To participate in the forum you must log in or register.
Author Previous TopicReplies: 25 / Views: 8,356Next Topic
Page: of 2
Bedrock of the Community
Earle42's Avatar
United States
10038 Posts
 Posted 12/08/2012  11:51 am  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply

Quote:
We could stave off inflation if we stopped printing so much darn money and living in a debt based system.


Sap made a good point. The problem is greed - and that will never be ousted from the human nature.

However, there IS some vailidity to the idea of not printing money at such an insane pace.

If we would get back to a congress who understands the concept historically proven in the US to keep us on the profit side aka. let the people keep more of the money they make; business owners re-invest to keep on the cutting edge or else go under if they simply pocket the profits; more jobs are created to fill the ongoing research/production/product concepts/dispersal etc.; so the economy as a whole comes out on top with a balanced budget, the system will have to work again. The profit cycle continues.

Our history proves it cannot be stopped by anything but human intervention of powermongers and greed.
How much squash could a Sasquatch squash if a Sasquatch would squash squash?
Download and read: Grading the graders
Costly TPG ineptitude and No FG Kennedy halves
https://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2
Pillar of the Community
Broseph's Avatar
United States
979 Posts
 Posted 12/08/2012  12:40 pm  Show Profile   Bookmark this reply Add Broseph to your friends list Get a Link to this Reply
Earle, so true.

The government spends time money, and manpower trying to do everything for people with handouts, but it's really just money that took from us in the first place! Which means for every dollar we give them, after every person along the way gets a piece of it, then they only have a fraction left to spend on giving back to the people.

And a lot of government handout programs are really wasteful. Foodstamps helps a lot of people, but when I worked at Walmart people came in using their foodstamps for sodas, chips, candies, STARBUCKS frappacinos and it made me so mad that I pay taxes so these people could have luxuries that I can't afford as a college student. Why should they take my money and give it to people my parents age so they can eat like my younger brother?

Back to the topic... I REALLY wish the gov would stop making pennies. In 2011 the gov spent about $70mil making about $30mil worth of pennies.

Oh me, oh my, how could we EVER shrink the deficit?

If the governmet PAID the 0 to 4 cents on every transaction made instead of making pennies, it would still be better for their budget than making the pennies.
Obviously that will never happen. Rounding the total purchase in the favor of the customer when the penny is eventually removed will probably happen. None of that is on the radar yet though....
Pillar of the Community
noahs-numismatics's Avatar
Canada
3167 Posts
 Posted 12/08/2012  1:51 pm  Show Profile   Bookmark this reply Add noahs-numismatics to your friends list Get a Link to this Reply

Quote:
the gov spent about $70mil making about $30mil worth of pennies


But isn't it the governments duty, to provide us with coinage? Yeah I get how yoou think it shouldn't cost more than face, but as soon as each penny is spent four times, does that not makes the governments investment worth it?

Aww, whatever, they'll be gettin' rid of it soon enough, just because we did
Moderator
Learn More...
jbuck's Avatar
United States
188660 Posts
 Posted 12/10/2012  12:14 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
So what happens when you need 6 cents in change if we have no nickels or pennies? Do I get a dime? I doubt it.
No, but if you need eight cents in change, you would.
New Member
Shoop's Avatar
United States
1 Posts
 Posted 12/22/2012  9:28 pm  Show Profile   Bookmark this reply Add Shoop to your friends list Get a Link to this Reply
They are trying their hardest not to stop the penny or nickel production. If you take out the penny and nickel, inflation will happen faster. They won't even print $500 bill because of this. Inflation hurts the rich and not as much for the middle class or poor. If you have lots of money, inflation is your ENEMY, then you want to stop inflation by all means. If you are in lot's of debt, have a huge mortgage with low interest and etc, inflation is your FRIEND. If you live paycheck to paycheck and no money, no debts, bring on the inflation and let the filthy rich suffer. The rich run this country and inflation has been low for 30 years.

The lid is about to burst and here comes our next bubble. Mark my word.
Valued Member
agibby5's Avatar
United States
139 Posts
 Posted 12/22/2012  10:56 pm  Show Profile   Bookmark this reply Add agibby5 to your friends list Get a Link to this Reply
What if you have a fair amount of money that you worked really, really hard for and saved up but aren't filthy rich? I think that still brings that suffering feeling. Is that may fault for saving up my money? I guess I should have bought more precious metals and not saved in USD. I guess the savers are a dying breed today due to that tricky thing called inflation.
Edited by agibby5
12/22/2012 10:57 pm
Moderator
Learn More...
jbuck's Avatar
United States
188660 Posts
 Posted 12/23/2012  12:22 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
If you take out the penny and nickel, inflation will happen faster.
No, it will not.
Pillar of the Community
lincolncentguy's Avatar
United States
809 Posts
 Posted 12/24/2012  1:03 pm  Show Profile   Bookmark this reply Add lincolncentguy to your friends list Get a Link to this Reply
As a collector of one cent coins...I hope they never stop producing them!!
Moderator
Learn More...
jbuck's Avatar
United States
188660 Posts
 Posted 12/26/2012  11:31 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I am sure if they stop making them for circulation, they will still make them for collectors. Just look at the Kennedy half dollar, for example.
Pillar of the Community
Broseph's Avatar
United States
979 Posts
 Posted 12/28/2012  12:24 pm  Show Profile   Bookmark this reply Add Broseph to your friends list Get a Link to this Reply
I collect cents, but I care more about our country and the economy. They need to stop wasting money. Not just in this, but in general.
  Previous TopicReplies: 25 / Views: 8,356Next Topic
Page: of 2

To participate in the forum you must log in or register.



    




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2026 Coin Community Forums
It took 0.38 seconds to rattle this change. Forums