Woofer Posted July 17, 2006 Share Posted July 17, 2006 http://http://articles.moneycentral.msn.com/News/TimeToKillOffThePenny.aspx?GT1=8376 In May, the U.S. Mint informed Congress that the cost of making a penny and a nickel will soon exceed the actual value of each coin. Thanks to the high cost of materials that go into the making of the coins -- zinc, copper and nickel -- the Mint estimates that by the end of the fiscal year, the cost of producing one penny will come to around 1.23 cents, and the cost of making a nickel will be 5.73 cents. click the link for the full article Link to comment Share on other sites More sharing options...
Raub Posted July 17, 2006 Share Posted July 17, 2006 Just one of the great things I love about Germany...no 1 cent coin, and all the prices are in 5 cent increments. Link to comment Share on other sites More sharing options...
Pete Posted July 17, 2006 Share Posted July 17, 2006 There a pain in the arse if you ask me. Of course, my wife would argue that :doh: :laugh: Link to comment Share on other sites More sharing options...
Grizz Posted July 17, 2006 Share Posted July 17, 2006 I could see giving up the penny, but instead of gas prices going up 2or 3 cents every week, they'll just start upping it a nickel at a time Link to comment Share on other sites More sharing options...
Woofer Posted July 17, 2006 Author Share Posted July 17, 2006 I could see giving up the penny, but instead of gas prices going up 2or 3 cents every week, they'll just start upping it a nickel at a time Good point. But how will they adjust to 9/10s of a nickle? Link to comment Share on other sites More sharing options...
Cdowwe Posted July 17, 2006 Share Posted July 17, 2006 Getting rid of the penny would destroy the entire infrastructure of America, the penny bank. Link to comment Share on other sites More sharing options...
Ignatius J. Posted July 17, 2006 Share Posted July 17, 2006 Interesting point here, the elimination of the penny is not equivalent to the elimination of the cent. With the prevelence of electronic transactions it would still be possible to pay $4.31 for something, penny or no. Also, imagine buying something for $1.23 and $1.21. Instead of paying $2.50 you would still only pay $2.45 if you had to pay in cash. I wonder the extent to which these things are linked. I remember when gas was cheaper, many stations used to charge a per gallon rate at 3 decimal places. For the life of me I can't remember if they still do this. Link to comment Share on other sites More sharing options...
Kurd Cudins Posted July 17, 2006 Share Posted July 17, 2006 Seriously, if anybody's worried about pennies, YOU need to step your game up! I personally keep my pennies in the center console of my car so I can throw them at annoying drivers who cross me. It's not destructive or dangerous, but the ping always gets their attention and gives me some sense of retribution for having to deal with their stupidity. Sometimes people even warrant a nickel or quarter! Link to comment Share on other sites More sharing options...
SkinsOrlando Posted July 17, 2006 Share Posted July 17, 2006 Note, whenever the gov't or businesses have the ability to "round up" they will. I'm all for keeping the penny. Link to comment Share on other sites More sharing options...
AllAboutSkins08 Posted July 17, 2006 Share Posted July 17, 2006 but without pennies it would make it harder to pay for things in exact change! it's so fullfilling to pay with exact change ....kill me now Link to comment Share on other sites More sharing options...
Ellis Posted July 18, 2006 Share Posted July 18, 2006 Seriously, if anybody's worried about pennies, YOU need to step your game up! I personally keep my pennies in the center console of my car so I can throw them at annoying drivers who cross me. It's not destructive or dangerous, but the ping always gets their attention and gives me some sense of retribution for having to deal with their stupidity. Sometimes people even warrant a nickel or quarter! LOL! You're user name alone justifies a post like this. Spitter.:cool: :laugh: Link to comment Share on other sites More sharing options...
ashburnskinsfan Posted July 18, 2006 Share Posted July 18, 2006 A number of countries don't have a penny, but still quote prices in them. I remember buying groceries in Finland and in lieu of a couple of pennies change I got a piece of candy! Link to comment Share on other sites More sharing options...
Slateman Posted July 18, 2006 Share Posted July 18, 2006 Have to save the copper. How would we have a ever have lucky pennies? Link to comment Share on other sites More sharing options...
Slacky McSlackAss Posted July 18, 2006 Share Posted July 18, 2006 but without pennies it would make it harder to pay for things in exact change! it's so fullfilling to pay with exact change ....kill me now its people like you that make counting my cash drawer at the end of my shift a *****. i hate you. :laugh: Link to comment Share on other sites More sharing options...
spjunkies Posted July 18, 2006 Share Posted July 18, 2006 Where would we put Abe if we got rid of the penny? Link to comment Share on other sites More sharing options...
tizzod Posted July 18, 2006 Share Posted July 18, 2006 Where would we put Abe if we got rid of the penny? Um, my guess would be the $5 bill. Link to comment Share on other sites More sharing options...
tizzod Posted July 18, 2006 Share Posted July 18, 2006 In May, the U.S. Mint informed Congress that the cost of making a penny and a nickel will soon exceed the actual value of each coin. Thanks to the high cost of materials that go into the making of the coins -- zinc, copper and nickel -- the Mint estimates that by the end of the fiscal year, the cost of producing one penny will come to around 1.23 cents, and the cost of making a nickel will be 5.73 cents. I think it's all Israel and North Korea's fault. At least that's what the oil companies would say. Link to comment Share on other sites More sharing options...
ChocolateCitySkin Posted July 18, 2006 Share Posted July 18, 2006 The only the penny is good for is ammo. Link to comment Share on other sites More sharing options...
spjunkies Posted July 18, 2006 Share Posted July 18, 2006 Um, my guess would be the $5 bill. I know but he deserves a coin too. Link to comment Share on other sites More sharing options...
DjTj Posted July 18, 2006 Share Posted July 18, 2006 I know but he deserves a coin too. A coin TOO? Lincoln sounds like a greedy **** ... I hear he also wanted free slaves... I know ... :doh: Seriously though, FDR only has the dime ... and Jefferson had the $2 bill to go along with the nickel, but that never caught on ... this will basically leave Washington as the only person with two major forms of currency, which I think is pretty fair. Although maybe if they put Lincoln's face on the dollar coin, people will actually use it. Link to comment Share on other sites More sharing options...
tizzod Posted July 18, 2006 Share Posted July 18, 2006 I know but he deserves a coin too. Good Lord, dude, you want to give him a major bill AND a coin? And I have yet to see the love given up for Chester Arthur.... Link to comment Share on other sites More sharing options...
PokerPacker Posted July 18, 2006 Share Posted July 18, 2006 without the penny, who's gonna teach the dick casheer a lesson? always go the the store prepared with a bunch of pennies. Link to comment Share on other sites More sharing options...
dreamingwolf Posted July 18, 2006 Share Posted July 18, 2006 before I vote, I must know if the penny is dirty Link to comment Share on other sites More sharing options...
drums and skins Posted July 18, 2006 Share Posted July 18, 2006 I find it hard to believe they'll give up on the penny just because it costs more. I"m sure they'll find a way to lower the production cost. < If the article covered this, my bad. I didn't read it. Oh well. > Link to comment Share on other sites More sharing options...
EersSkins05 Posted July 18, 2006 Share Posted July 18, 2006 The only thing pennies are good for is avoiding more pennies in your change. Link to comment Share on other sites More sharing options...
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