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Dump the penny?Follow
If you get rid of the penny, how will we buy people's thoughts? Geez! Does nobody think about these things?
King Nobby wrote:
More words please
Australia got rid of the 1 and 2 cent coins in the eighties, I think. The decision to do so was made be a fiat of the elected Australian treasurer. He noticed that people on the street wouldn't bother to pick up a one or two cent coin if one was laying on the street available for anyone to retrieve. He decided that if people didn't think that free money of a certain worth wasn't worth stopping and bending over for, then that amount of money was pretty worthless in practical economic terms.
We still have the 5, 10, 20, and 50 cent coins, and the $1 and $2 coins. Australia's coinage is too heavy.
In Australia unused stamps are also legal currency, but good luck getting any seller accepting them as such.
We still have the 5, 10, 20, and 50 cent coins, and the $1 and $2 coins. Australia's coinage is too heavy.
In Australia unused stamps are also legal currency, but good luck getting any seller accepting them as such.
gbaji wrote:
If you get rid of the penny, how will we buy people's thoughts? Geez! Does nobody think about these things?
yossarian wrote:
His Excellency Aethien wrote:
The Euro officially has both 1 and 2 cent coins but nobody uses them around here. I mean, what do you use those things for anyway?
I'm not sure were you are from (I'm vaguely recalling the Netherlands?) but I thought the one and two cent euro coins were not imported to some eurozone nations, but they actually had to accept them as legal currency (e.g. if you hand them to the shop clerk as currency, they had to take them, but all prices were rounded anyhow).
Yeah, some EU countries don't actually use anything smaller than 5 cents.
Germany does use them.
Fearing the negative comments to follow about the US military...but US bases in Okinawa did away with using pennies for shopping on-base. (It may be all overseas bases, I'm not sure though) It was explained that the cost for moving the coins back and forth was more than the coins worth. The banks still use pennies as tender, but the Post/Base Exchanges and Commisary have all rounded the change you received either up or down based the total. There was some concerns at first about being shorted a couple of cents, but I think it evened out over time. That was about 15 years ago. I for one am glad not having to tote around the coins.
Oddly enough, the Japanese 1 yen coin is aluminum.
Oddly enough, the Japanese 1 yen coin is aluminum.
Jophiel wrote:
Pack your own lunch and bring nothing but Pixie Stix and Pop Rocks and get your liberty on.
gbaji wrote:
If you get rid of the penny, how will we buy people's thoughts? Geez! Does nobody think about these things?
Buy in bulk, or make sure they are a free thinker?
Just as Planned.
Free samples, free refills, free thinking, free love...
Great Scott! I really think you're onto something there, boy!
Great Scott! I really think you're onto something there, boy!
Aripyanfar wrote:
Free samples, free refills, free thinking, free love...
Great Scott! I really think you're onto something there, boy!
Great Scott! I really think you're onto something there, boy!
Acid?
Jophiel wrote:
I managed to be both retarded and entertaining.
klausneck wrote:
Fearing the negative comments to follow about the US military...but US bases in Okinawa did away with using pennies for shopping on-base. (It may be all overseas bases, I'm not sure though) It was explained that the cost for moving the coins back and forth was more than the coins worth. The banks still use pennies as tender, but the Post/Base Exchanges and Commisary have all rounded the change you received either up or down based the total. There was some concerns at first about being shorted a couple of cents, but I think it evened out over time. That was about 15 years ago. I for one am glad not having to tote around the coins.
Oddly enough, the Japanese 1 yen coin is aluminum.
Oddly enough, the Japanese 1 yen coin is aluminum.
Ya I read about this happening on several US military bases. Apparently there was initial resistance to it, but after the fact there was generally positive feedback.
Timelordwho wrote:
gbaji wrote:
If you get rid of the penny, how will we buy people's thoughts? Geez! Does nobody think about these things?
Buy in bulk, or make sure they are a free thinker?
Five-thought minimum.
In a time of universal deceit, telling the truth is a revolutionary act.
That may be difficult to get from some people.
Donate. One day it could be your family.
An invasion of armies can be resisted, but not an idea whose time has come. Victor Hugo
An invasion of armies can be resisted, but not an idea whose time has come. Victor Hugo
I'm in favor of keeping the penny for two reasons. First, everything will cost slightly more. Once the penny is gone retailers will be quick to round their prices, and you know they won't be rounding them down. Secondly, I prefer to use cash whenever possible. It makes me really consider if I actually want to buy something if I have to actually hand over a tangible object. It's too easy to spend when all you do is swipe a card. This is going to get bit slippery slopeish, but if we get rid of the penny, I can see the rest of the coins dissapearing next, then it's on to the bills.
Turin wrote:
I'm in favor of keeping the penny for two reasons. First, everything will cost slightly more. Once the penny is gone retailers will be quick to round their prices, and you know they won't be rounding them down.
By law, they would round to the nearest 5c, or they could use a more complex scheme which makes it very, very difficult for store owners to get the rounding to always go in their favor.
For noncash transactions, they would be kept to the nearest 1c.
turin wrote:
Secondly, I prefer to use cash whenever possible. It makes me really consider if I actually want to buy something if I have to actually hand over a tangible object. It's too easy to spend when all you do is swipe a card. This is going to get bit slippery slopeish, but if we get rid of the penny, I can see the rest of the coins dissapearing next, then it's on to the bills.
This would make it cheaper for the business to deal with cash transactions since they would not require the time to dispense small change.
Of course the next coin will vanish eventually. It's called inflation. The measures are unsatisfying, but in some sense, the penny has about 25 times less buying power then it did about 50-60 years ago. Why bother to keep things to that level of precision?
Further, new 1$, perhaps 2$ or 5$ coins would be minted (eventually) to ease your use of cash - particularly with vending machines.
Quote:
This would make it cheaper for the business to deal with cash transactions since they would not require the time to dispense small change.
Donate. One day it could be your family.
An invasion of armies can be resisted, but not an idea whose time has come. Victor Hugo
An invasion of armies can be resisted, but not an idea whose time has come. Victor Hugo
Uglysasquatch wrote:
Quote:
This would make it cheaper for the business to deal with cash transactions since they would not require the time to dispense small change.
Clearly you are correct in some cases. I would point to two cases:
1. In fast food, the largest component of the cost of the food is the employee time. Not much of this is spent cointing change from customers and dispensing change, but a bit is. And this would be less with additional rounding.
2. Many stores which deal with a lot of cash have machines which automatically dispense the appropriate coins for change. So they have done this calculation and wish to buy a machine to replace what their employee can do.
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