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 Replies: 34 / Views: 3,387 |
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Pillar of the Community
United States
749 Posts |
I dont see the penny disapperaing in my lifetime. Personally I want it to stay put  |
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New Member
United States
22 Posts |
I wouldn't mind a new composition, my collection wouldn't be complete without the Lincoln Cent.  |
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Pillar of the Community
United States
535 Posts |
quote:
Also, bring back the Mill. Time to make things really goofy. We had Mills some time back but were mainly used for taxes.
I agree 100%! I, for one, am sick and tired of getting hosed every time I pull up to the gas pump! Gas is $3.099. Well who on earth has nine-tenths of a cent?!? So what do they do? They round it UP to the next penny! So instead of me paying $3.099 per gallon, now I have to pay $3.100 per gallon!! I can't believe they can get away with that! They are just STEALING my tenth of a cent! On every single gallon of gas! Depending on how much you drive, over the course of a year, that could come out to numerous cents. The only way I can think of to rectify this injustice is to bring back the mill! |
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Valued Member
United States
130 Posts |
Lets get back to real money.
Copper cents.
Silver and Gold for everything else.
Dump the worthless paper!
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Moderator
 United States
187446 Posts |
quote:
I agree 100%! I, for one, am sick and tired of getting hosed every time I pull up to the gas pump! Gas is $3.099. Well who on earth has nine-tenths of a cent?!? So what do they do? They round it UP to the next penny! So instead of me paying $3.099 per gallon, now I have to pay $3.100 per gallon!
Rounding is only done on the final amount when you fill up, not each gallon. Ten gallons at $2.999 a gallon would cost $29.99, not $30.00. Consequently, if the cent were eliminated, only the final total of your bill (shopping, dining, etc.) would be rounded to the nearest $.05, not each and every item. Every "plan" I have read still bills to the exact "$.01" for electronic (credit/debit) transactions; that is, no rounding would occur. |
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Valued Member
United States
60 Posts |
I hope the cent is around for a long time. It does not matter to me if the composition changes. I just hope I am to collect a new cent every year. I think it would be great if the composition is changed. Copper and copper coated cents have been around for a long time. Just keep President Lincoln on it.
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Pillar of the Community
United States
1934 Posts |
I dont believe our economy, sales and purchase constructs, and consumer mindset and ability to pay will see the disappearance of the cent anytime soon.
Does anyone believe, for a second, that eliminating the cent would do anything but drive up the costs of goods? Or do you believe that 1.99 product will be reduced to 1.95 or that pricing and sales tax calculations will be lowered to accommodate that change? I dont.
I'm not expert enough to know or have an expansive perspective of the overall collateral impact eliminating the cent would have.
For numismatists, eliminating the cent would make Lincolns more valuable...so will changing the design.
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New Member
 United States
30 Posts |
Zulu,
I totally disagree with keeping Lincoln on the cent. Let's move on to something else. One hundred years is a nice round number to end the Lincoln reign. Actually, it's been too long. The same old presidents on our coinage is getting tired to me.
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Valued Member
United States
143 Posts |
I say keep the cent and go back to the Indian Head cent design, that would be cool to find full struck Indian Head cents in your pocket change everyday! Sorry but I just love the design, but it won't happen, lol! |
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Pillar of the Community
United States
2270 Posts |
Eliminating the cent would reduce prices generally.
As a collector I'm as nostalgic for the Lincoln as anyone. Indeed I remember a time when a penny was real money and useful in commerce. It wasn't much money but if you could save up a few pennies you could buy a candy bar. But that was then and this is now. A penny is less than no value at all. Its primary function is to teach children that you can lose billions of dollars a year so long as you do it a tiny bit at a time. We could support a small city of 25,000 for what it costs to maintain the cent in circulation.
The penny simply has to go and we'll all have to get used to the idea.
Time don't fly, it bounds and leaps.
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Bedrock of the Community
United States
20753 Posts |
Rounding is only done on the final amount when you fill up, not each gallon. Ten gallons at $2.999 a gallon would cost $29.99, not $30.00.
Consequently, if the cent were eliminated, only the final total of your bill (shopping, dining, etc.) would be rounded to the nearest $.05, not each and every item. Every "plan" I have read still bills to the exact "$.01" for electronic (credit/debit) transactions; that is, no rounding would occur.
This is the way things SHOULD work, but doesn't. In fact the next time you go to a store and buy numerous items for say 2 for $0.99 you may be shocked that their scanning machines are set to charge you $0.50 each. This is because their machines do not know how many you are buying and they must scan each one separately. I've complained about this at stores many times but usually only get a "we will look into that sir" or "sorry sir but that is the way the computers work".
And as for gas pumps. This is why there is now a government agency that answers all such complaints since the greatest amount of pumps are set to do exactly what was said previously. The stated price may be $2.987 or something like that but if you watch the pump it will click off $2.99 and they will tell you the computer can not be set to work in the third digit. Then you must complain to this agency of people, whoever they are, they will investigate and if you were actually cheated, you will have the excessive amount returned. However, you must go there to that station for the returned amount. This is what is done in my state but may not be happening every where.
AHHH bring back the mill.
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Pillar of the Community
United States
619 Posts |
I wouldn't mind if we went to the cashless system. Would that mean that stuff we collect would skyrocket in value because they won't be making it any more? I want to walk into a business and let some machine read the patterns of my eyes and my fingerprints and create a transaction right there. I don't want to carry my McDonalds food card any more because I know someday I will lose it or damage it and I'm tired of reloading it.
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Pillar of the Community
United States
543 Posts |
I really wouldnt mind seeing the penny disappear, but later in the future they wouldnt be worth anything, speculation of future worth would lead the public to massive hoarding, which would lead to millions if not billions of hoarded pennies!
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Valued Member
United States
161 Posts |
I'd love to see a retro design brought back. Lets do the flying eagle again. It wasn't around long enough the first time. They kinda brought back the Susan B briefly. There's a reason most modern coins aren't selected as most beautiful. The classic designs are hard to beat.
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Pillar of the Community
United States
2602 Posts |
How about keep the penny, but make low numbers only for collectors? But remove the penny from circulation and go to rounding to the nearest nickel for cash transactions. Continue to have electyronic transactions go to the cent, rather than nickel. This way, folks that don't want things rounded up can use electronic payment if they desire.
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Replies: 34 / Views: 3,387 |
First Page
Posted 02/22/2008 9:40 pm
