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Kill The Penny

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Mrkguru12
Posts: 1661 - Karma: 10
It is estimated that the cost to make the penny will be greater than it is worth. It already is like this, but will soon be outrageous. The same with the nickle. Check this:
http://articles.moneycentral.msn.com/News/TimeToKillOffThePenny.aspx?GT1=8376
I say get rid of that motherfucker. I hate pennies. If its not silver, I pay no attention to it. They waste my tax money and are good for nothing. We need to update the currency system, and the plan is to re-circulate 2 dolla bills. That would be the way to go. Fuckin pennies
Jul 17 2006 8:30PM
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LDuggan420
Posts: 1611 - Karma: 13
or if you were thinking you could pay 10 bucks 2 quarters 1 nickel and 3 pennies
Jul 17 2006 8:57PM
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MitchPee
Posts: 8871 - Karma: 1,509
It won't happen. Well it might once there is no more physical money. Someday, we won't carry money...Someday.
Jul 17 2006 9:00PM
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oakjewlery
Posts: 4905 - Karma: 32
but everyone loves penny!

Click for larger image
Jul 17 2006 9:05PM
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ski_cartel
Posts: 6598 - Karma: 18
not going to happen, they would have to change our whole pricing system and reinvent the mony system to make it work, and that would be too costly.
The only chance of it ever truly dissapearing is if we only use interact and credit card 
Jul 17 2006 9:06PM
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Arabian.
Posts: 9640 - Karma: 150
They wouldn't have to do shit but round up to the nearest half-dollar, aka 1.49-1.50, 19.99-20 etc. Tax would simply be rounded to halves or quarters as well, not that big of a difference.
Jul 17 2006 9:14PM
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jimmychung
Posts: 6857 - Karma: 25
i don't mind change, i throw it in a jar in my room when the day is through, then cash it. it really ads up. this isn't the first time this has happened. in the 80s, the all copper pennies got too expensive to make, so they made them out of 98% zinc, and just coated it with some copper. personally, i think we should have only 1 dollar bills, i'm sick of wanting to use a vending machine or pay a tip at a restaurant and all i have are 20s.
Jul 17 2006 10:16PM
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MitchPee
Posts: 8871 - Karma: 1,509
Yeah carry 1,000 ones in your wallet when you take your family to Disney World, that'd be a great idea.
Jul 17 2006 10:18PM
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mattster
Posts: 4120 - Karma: 41
one stylish motherfucker right thurrr
Jul 17 2006 10:21PM
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jimmychung
Posts: 6857 - Karma: 25
credit card, buddy.
Jul 17 2006 10:22PM
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MitchPee
Posts: 8871 - Karma: 1,509
At the food stands and stuff, they don't take credit cards.
Jul 17 2006 10:23PM
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kingarthurs
Posts: 1126 - Karma: 10
yea, but do u wanna use a credit card for buying a one dollar soda? and if we eliminated cash, it would get a hell of a lot harder to buy illegal things, and things you dont want people to know you purchased
Jul 17 2006 10:24PM
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jimmychung
Posts: 6857 - Karma: 25
ehhhh they should.
and for a $1 soda? i'd use all of my $1 dollar bills.
Jul 17 2006 10:25PM
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MitchPee
Posts: 8871 - Karma: 1,509
A $1 soda at Disney World...bahahahaha. More like $3 a drop.
Jul 17 2006 10:26PM
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jimmychung
Posts: 6857 - Karma: 25
haha tell me about it, not my idea another kid asked about it.
Jul 17 2006 10:28PM
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leckett1
Posts: 6476 - Karma: 294
ive seen him before!
Jul 17 2006 10:42PM
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ATLskier
Posts: 8203 - Karma: 406
Im sorry, you couldn't be further form the truth. Tax would simply be rounded to halves or quarters, and it's not a big difference? With retail tax rates pretty much anywhere around 5-10% depending on where you are, the actual tax that is generated from millions of purchases everday with so many different items varies so much. You wouldn't just be rounding 19.99 to 20 and 39.99 to 40. Taxes would have to be rounded from $1.58 to $1.50, $14.66 to $14.75 with your system. that 8 and 9 cents really makes a difference, a really big difference. Even rounding up to the nearest 5 cent would be a huge difference. It would be a disaster to round off taxes and prices. Rounding up prices to eliminate the penny is the most ridiculous idea I've heard. Sorry, it just won't work. Think about computing interest, and many other things. There is no way to eliminate the penny...never, unless inflation increase at a ginormous rate.

Now, two dollar bills didn't and wont ever work. It's the smae thing as the dollar coin. Those things are so annoying, but whenever I get them, I end up buying something right away so I don't have to keep them.


The solution to the penny problem and for nickles would be to make them out of something different. They made pennies out of steel in 1943. I don't think that would be feasible now, and I don't know what the price of steel is, but pennies have been made of different metal before, so they could easily change it.

Random fact abotu copper. 1/3 of copper is in use today, 1/3 of it is still in the ground that can be mined, the last third is in landfills and people are starting to mine landfills. watch out midwesterners, mt brighton and other ski areas may end up being copper mines.
Jul 17 2006 10:44PM
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Mrkguru12
Posts: 1661 - Karma: 10
Either way I just dont think pennies have any use as it is. I dont carry them around. I dont pay with them. The only time i get them is if I get change, and even then I will drop it on the way out of the store by accident anyway because I am just that apathetic toward them. If I didnt get them from change, I would never use them.
By the way pennies are made of mostly zinc and other metals with very little copper. They would have to change it quite a bit to get it to work out better.
Jul 17 2006 11:12PM
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siversex
Posts: 1254 - Karma: 16
yeah, that would be awesome! or you could pay with 1058 pennies! hip hip fucking horay!
Jul 17 2006 11:20PM
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Badfish2
Posts: 3453 - Karma: 21
y not multiply everything by 100... then instead of a $1 bill, you'd have a 100 note.
and a penny would be a 1 bill.  the tax people would still use their 4 decimal places, but we wouldn't have an actual currency for it.
oh, and by the way, I thought you were talking about Penny from PeeWee's playhouse

http://www.youtube.com/watch?v=8z6nw2QvQ4w&mode=related&search=

Jul 18 2006 12:07AM
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RudyGarmisch
Posts: 25443 - Karma: 13,844
I really wouldnt mind if we just stopped using nickels or pennies. Its really annoying, and who the hell buys anything with them anyways?

What we should do is just move to a plastic system and just start eliminating the need for change and paper money.
Jul 18 2006 12:14AM
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invader7
Posts: 5756 - Karma: 49
the only thing i use is quarters but one time i started saving all my change and like took every one elses and i went to coin star adn got like 40 bucks
Jul 18 2006 12:21AM
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SteezePatrol
Posts: 10281 - Karma: 36
in belize their dollar is directly tied to the US dollar as being exactly 2x more at all times.

so when they had copper pennies, fuckers were smelting them down and selling them back to america to make made chedda.

now they have aluminum pennies, which we should have.
Jul 18 2006 1:48AM
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shea.
Posts: 1606 - Karma: 193
and we will all live with a world currency...Someday.
Jul 18 2006 2:21AM
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shea.
Posts: 1606 - Karma: 193
and we will all live with a world currency...Someday.
Jul 18 2006 2:21AM
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Greenish
Posts: 2047 - Karma: 367
they should just put all the retail prices up or down a few cents so the tax adds on and gets the price to the nearest .05 . I would be willing to pay 1.50 instead of 1.47 in order to get rid of the penny or i would even pay 1.50 instead of 1.45 to get rid of the nickel. There's no point in keeping a coin that isn't worth as much as it costs to make it.

There could just be a 3-4 year period for everyone to cash in their pennies and nickels and then just stop accepting them at stores. that's my idea... maybe it's not very realistic at all. i dunno
Jul 18 2006 2:36AM
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BIGairVZ
Posts: 525 - Karma: 32
they're just going to change what they make the penny out of. the only problem with the way it is now is that the materials are more expensive than actual worth so if u cut down the materials cost...................BAM... SOLVED!!
Jul 18 2006 2:59AM
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RudyGarmisch
Posts: 25443 - Karma: 13,844
We should just go with paper money, it costs relatively little to make a dollar bill... and the same to make a $50 or $100 dollar bill.
Jul 18 2006 3:50AM
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