Should we get rid of pennies? - Page 2

***naisho*** · 07-17-2010, 11:10 AM

Getting rid of the small coins would mean that we as people would need alternatives for galvanized metals.

When you're out in the middle of nowhere, lost in the national park, or post-apocalypse you could make your own battery using galvanized coin and natural resources.
Make Your Own Lemon Battery

Pretty pro reason to have them, just my opinion.

***naisho*** · 07-17-2010, 11:19 AM

Quote:

Originally Posted by TXgolfer

Exactly......It costs 1.5 cents to make a penny......kinda nuts

It costs more to make nickels and dimes, and even a dollar bill has higher costs than making a penny.
In 2008, figures for nickels were almost double.
The only way they can come positive in coin production is if they kept making dimes or half dollars only.

http://www.usmint.gov/about_the_mint...=annual_report

2009
Penny: $0.0162
Nickel: $0.0603
Dime: $0.0565
Half Dollar: $0.1131
Dollar Bill: $0.3040

**TXgolfer** · 07-17-2010, 12:21 PM

Quote:

Originally Posted by naisho

It costs more to make nickels and dimes, and even a dollar bill has higher costs than making a penny.
In 2008, figures for nickels were almost double.
The only way they can come positive in coin production is if they kept making dimes or half dollars only.

The United States Mint Annual Report

2009
Penny: $0.0162
Nickel: $0.0603
Dime: $0.0565
Half Dollar: $0.1131
Dollar Bill: $0.3040

Exactly......Pennies and nickles cost more to produce than their value.......hence my post we should stop producing pennies and nickles

CJB · 07-17-2010, 12:53 PM

Ditching pennies? Sign me up.

The Highlander · 07-17-2010, 02:35 PM

Quote:

Originally Posted by Foxrac

If we rid of pennies so what happen if you get $1.27 charge back so would be $1.00 + 0.25 cents + ???? = $1.27?

I want to rid of pennies and that's mean they won't sell as .99¢ or 1.28. Just round up to $1 or $1.30. Any 4¢ or less is skip.

***naisho*** · 07-17-2010, 02:37 PM

Quote:

Originally Posted by The Highlander

I want to rid of pennies and that's mean they won't sell as .99¢ or 1.28. Just round up to $1 or $1.30. Any 4¢ or less is skip.

It's also possible for merchants to purposely price their products so always in 5 -> 9 range rounded up.
May seem a little "no big deal, 5 cents" but over time like one year, many customers = is a lot of $$.

Ever read about the hackers who stole $ few million using 1 penny from everyone's bank account?

The Highlander · 07-17-2010, 02:40 PM

Quote:

Originally Posted by authentic

They are useful, same as euro have coins that are valuable. Europeans love 1 euro coin, it is very useful. If we stop pennies, then there will be no 1.99 or .52 cents or something like that. I hate when I see product that sells $5 and tax comes up like $5.12. I use credit card to avoid getting PENNIES in a return. I don't mind to keep 5 cents, 10 cents, 25 cents to save for street parking meter. Street parking meter won't accept pennies, and even soda machines.

Very true about street parking meter and soda machines. I wish they accept credit card for anywhere.

You use Macbook and you should use "option+4" than type cents.

The Highlander · 07-17-2010, 03:01 PM

Quote:

Originally Posted by naisho

It's also possible for merchants to purposely price their products so always in 5 -> 9 range round up.
May seem a little "no big deal, 5 cents" but over time like one year, many customers = is a lot of $$.

Ever read about the hackers who stole $ few million using 1 penny from everyone's bank account?

Oh yeah. I remembered about hacked.

**Foxrac** · 07-17-2010, 07:48 PM

Quote:

Originally Posted by The Highlander

I want to rid of pennies and that's mean they won't sell as .99¢ or 1.28. Just round up to $1 or $1.30. Any 4¢ or less is skip.

Oh yup, I support to rid of pennies and possibly nickels.

**Foxrac** · 07-17-2010, 07:54 PM

Quote:

Originally Posted by TXgolfer

Exactly......Pennies and nickles cost more to produce than their value.......hence my post we should stop producing pennies and nickles

I found out that cost 1.7 cents to make penny.
Penny Problem: Not Worth Metal It's Made Of - ABC News

web730 · 07-20-2010, 02:38 AM

Yup, pennies are mere wasteful therefore it's way overdue for the US government to remove them off the monetary circulation!

May you forgive me, Abraham Lincoln?

**Foxrac** · 07-20-2010, 03:14 AM

Quote:

Originally Posted by web730

Yup, pennies are mere wasteful therefore it's way overdue for the US government to remove them off the monetary circulation!

May you forgive me, Abraham Lincoln?

or put Abraham Lincoln on new US $500 bill.

**deafskeptic** · 07-20-2010, 08:38 AM

Quote:

Originally Posted by shel90

Believe it or not, my trip to New York City for the All Deaf meet back in January was paid for in cash and most of it came from my jar full of pennies that I accumulated over the years. Since returning, it is halfway full.

I got $400 out of that jar when it was full. Helped to give my hubby and I extra cash for NYC and not put anything on credit cards.

If they stop producing them, then I wont have any fun watching my jar get full.

you remind me of my brother.

He likes to collect pennies in a jar.

**deafskeptic** · 07-20-2010, 08:40 AM

Personally, I'm all for getting rid of pennies since it costs more to produce them than they're worth. That's nuts.

mistercristofer · 07-24-2010, 02:46 AM

I like pennies

netrox · 07-26-2010, 04:57 PM

Quote:

Originally Posted by TXgolfer

Exactly......It costs 1.5 cents to make a penny......kinda nuts

While it does cost more to make a penny than its actual value itself (the same can be said for nickels - 7.7 cents to make a nickel), the difference is that it's being reused over and over so in the long run, it's cheap. You cannot say the same for dollar bills. They wear out quickly.

paperclip · 07-28-2010, 11:24 PM

Could we change the value of the penny? It would potentially be complicated since they are widely distibuted. We could change the value in such a way (along with the price of goods - similar to what Naisho said with rounding up to nearest 5 cents or something) that less coins were distributed as change.

RedWolf · 10-11-2010, 06:53 PM

Wirelessly posted

*look under couch mattress* Ohhhhh yay A PENNY

***VamPyroX*** · 10-14-2010, 06:17 PM

As long as things cost 1, 2, 3, or 4 cents... we'll always need pennies.

PowerON · 10-15-2010, 12:09 AM

Quote:

Originally Posted by The Highlander

Very true about street parking meter and soda machines. I wish they accept credit card for anywhere.

You use Macbook and you should use "option+4" than type cents.

You never use ¢ anymore. What's wrong with you?

Anyway, I'm in flavor for stop make penny and continues use what leave penny is. Use it.

PowerON · 10-15-2010, 12:10 AM

Quote:

Originally Posted by naisho

It's also possible for merchants to purposely price their products so always in 5 -> 9 range rounded up.
May seem a little "no big deal, 5 cents" but over time like one year, many customers = is a lot of $$.

Ever read about the hackers who stole $ few million using 1 penny from everyone's bank account?

Yes, I want to hack everybody's bank account by steal their penny. Wooho! I'm rich!

**Foxrac** · 10-16-2010, 09:51 AM

Quote:

Originally Posted by VamPyroX

As long as things cost 1, 2, 3, or 4 cents... we'll always need pennies.

No need, just use round number.

**Beowulf** · 10-16-2010, 12:08 PM

Copper sells for two dollars a pound, so we always strip it from old air conditioners or heat pumps. You would be surprised to see how much you get.

PowerON · 10-16-2010, 09:51 PM

Quote:

Originally Posted by Foxrac

No need, just use round number.

around em, either they make profit, either they on loss. Hmm... bah.

**Foxrac** · 10-16-2010, 10:43 PM

Quote:

Originally Posted by PowerON

around em, either they make profit, either they on loss. Hmm... bah.

Check your best friend's post.

AllDeaf.com - View Single Post - Should we get rid of pennies?

PowerON · 10-17-2010, 10:13 PM

Quote:

Originally Posted by Foxrac

or put Abraham Lincoln on new US $500 bill.

he already on $5 bill. Never had $5 in your pocket? Oh poor ya

**Foxrac** · 10-17-2010, 10:43 PM

Quote:

Originally Posted by PowerON

he already on $5 bill. Never had $5 in your pocket? Oh poor ya

Hey Sam, I don't care.

I don't pay attention to whichever US president on US dollars.

PowerON · 10-17-2010, 11:31 PM

Quote:

Originally Posted by Foxrac

Hey Sam, I don't care.

I don't pay attention to whichever US president on US dollars.

Lame

**JClarke** · 10-17-2010, 11:52 PM

Quote:

Originally Posted by Tousi

Ha, funny. I remember a similar story many years ago. A guy wheeled a grocery cart into an IRS building, loaded to the brim with pennies to pay his taxes with.

Quote:

Originally Posted by authentic

Get rid of pennies, no more saggy pants for me!

The more you get with qaurters, the sagger you get

Quote:

Originally Posted by Miss-Delectable

1c in US is worth more than the actual monetary value because of copper in it.

Australia phased out 1 and 2 cents in 1991 from what I remember. Don't miss it at all.

That's correct, it was phrased out in the 90's as from back of my memory. It is the same to the $1 paper note, it was converted to gold coin $1.

Quote:

Originally Posted by Foxrac

If we rid of pennies so what happen if you get $1.27 charge back so would be $1.00 + 0.25 cents + ???? = $1.27?

See explaination below.

Quote:

Originally Posted by Miss-Delectable

We get that daily on our grocery bill and $1.27 will be $1.25 instead.

Incorrect, rounds up to the nearest cent, if it is 1.27, that is already after 1.25, which means it have to round up to $1.30, but if it is before 1.25 that will have to round down to $1.20 however it varies on stores on how what they like to do with these in their systems.

Quote:

Originally Posted by shel90

Believe it or not, my trip to New York City for the All Deaf meet back in January was paid for in cash and most of it came from my jar full of pennies that I accumulated over the years. Since returning, it is halfway full.

I got $400 out of that jar when it was full. Helped to give my hubby and I extra cash for NYC and not put anything on credit cards.

If they stop producing them, then I wont have any fun watching my jar get full.

Collect the silver coins then

Just like txgolfer below stated.

Quote:

Originally Posted by TXgolfer

Sure you will just fill it with dimes instead.....then it will be worth $4,000 when it is full. (actually more)

.

Quote:

Originally Posted by The Highlander

Very true about street parking meter and soda machines. I wish they accept credit card for anywhere.

You use Macbook and you should use "option+4" than type cents.

Feels bad man, we have credit cards on vending machines. and couple of parking machines too.

**Foxrac** · 10-17-2010, 11:59 PM

Quote:

Originally Posted by PowerON

Lame

Hello Sam, how are you?

07-20-2010, 02:38 AM	#41 (permalink)
web730 Registered User Join Date: Jan 2006 Location: Florida Posts: 2,271	Yup, pennies are mere wasteful therefore it's way overdue for the US government to remove them off the monetary circulation! May you forgive me, Abraham Lincoln? __________________

07-20-2010, 08:40 AM	#44 (permalink)
deafskeptic Premium Member Join Date: Sep 2006 Posts: 14,512	Personally, I'm all for getting rid of pennies since it costs more to produce them than they're worth. That's nuts. __________________ Left ear implanted with Med-El on April 24 2007. Activated on May 9th. Upgraded to Opus 2 9/10/2010 Think Pink. FREE JILLIO!

07-24-2010, 02:46 AM	#45 (permalink)
mistercristofer Registered User Join Date: Jul 2010 Posts: 119	I like pennies __________________ Critique my ASL: http://www.youtube.com/watch?v=nBd9RKNivLg

10-11-2010, 06:53 PM	#48 (permalink)
RedWolf Registered User Join Date: Jan 2005 Location: FL Posts: 1,795	Wirelessly posted look under couch mattress Ohhhhh yay A PENNY __________________

10-14-2010, 06:17 PM	#49 (permalink)
*VamPyroX* bloody phreak from hell Join Date: Feb 2003 Location: 40.18, 58.41 Posts: 34,155	As long as things cost 1, 2, 3, or 4 cents... we'll always need pennies. __________________ Check out my city... C L I C K H E R E! (If you've already visited yesterday, visit again today!)

07-17-2010, 11:10 AM	#31 (permalink)
*naisho* Forum Disorders M.D.,Ph.D Join Date: Nov 2006 Location: 127.0.0.1 Posts: 6,162	Getting rid of the small coins would mean that we as people would need alternatives for galvanized metals. When you're out in the middle of nowhere, lost in the national park, or post-apocalypse you could make your own battery using galvanized coin and natural resources. Make Your Own Lemon Battery Pretty pro reason to have them, just my opinion.

Today
Deafness	Sponsored Links __________________ This advertising will not be shown in this way to registered members. Register your free account today and become a member on AllDeaf.com

07-17-2010, 12:53 PM	#34 (permalink)
CJB Registered User Join Date: Aug 2009 Location: U.S. Posts: 2,767	Ditching pennies? Sign me up.

07-28-2010, 11:24 PM	#47 (permalink)
paperclip Registered User Join Date: Dec 2006 Location: upstate NY Posts: 423	Could we change the value of the penny? It would potentially be complicated since they are widely distibuted. We could change the value in such a way (along with the price of goods - similar to what Naisho said with rounding up to nearest 5 cents or something) that less coins were distributed as change.

10-16-2010, 12:08 PM	#53 (permalink)
Beowulf Premium Member Join Date: May 2004 Posts: 10,515	Copper sells for two dollars a pound, so we always strip it from old air conditioners or heat pumps. You would be surprised to see how much you get.

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