General Question

tekn0lust's avatar

Do you think the US should get rid of the penny?

Asked by tekn0lust (1861points) June 13th, 2008

For our friends outside the US has your currency debated or actually done away with .01 units? I know Australia has and the friends I have over there say it’s quite a brilliant move.

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17 Answers

tekn0lust's avatar

Why not Skate?

iCeskate's avatar

for example if a total is something like 47.96 you would need 4pennies also when I find one on the ground i get excited

anonyjelly16's avatar

Yes. They are an annoyance to deal with.
Besides, I think they cost more to make than they are worth.

melly6708's avatar

i dont think they should.. now that prices of EVERYTHING are rising every penny counts

if they didnt have the penny then everything would have to be even.. like 1.50 everything will just be higher priced

and plus i also like pennys.. what else am i going to play my bingo with!!

and if they did get rid of pennies what would you make your wishes with.. or what on earth are they going to do to get rid of all the pennies people have already

AND i like looking at the little mad in the house

Adina1968's avatar

Absloutely not! We need them for good luck!!

tekn0lust's avatar

Not really. In Australia when a total is determined the register just rounds up or down to the nearest 5 cents and it all works out in the big picture.

With copper prices where they are it’s no wonder people are illegally smelting penny’s to get the copper.

MisterBlueSky85's avatar

People already round totals all the time in the US. We just don’t realize it.

Your local sales tax, for instance, is probably not a single integer, but instead may resemble something more like 5.5%. If you bought an item that cost a dollar, it would cost $1.055 after taxes, but instead the total is rounded to $1.06. Banks round off totals all the time when calculating interest; so do realtors, brokers, credit card companies, etc. We even buy gas that costs $3.99 and 9/10ths of a cent. Would it really be all that different if we stop rounding to the penny and start rounding to the nickel?

Upward's avatar

Y E S ! Let’s move on to a simpler and smarter world. Even if it means introducing a two cent piece it would at least make them cheaper to produce than the value of the coin.

iJimmy's avatar

I hate em. There was a comedian, maybe Seinfeld, who used to say we should replace the penny with a piece of chocolate. Maybe a little “after spending mint”. I agree.

marinelife's avatar

I have mixed feelings. I know logically it would be a good move, but I like pennies. I love the really shiny new ones. You used to be able to save them and buy something.

Trustinglife's avatar

And that’s exactly the dilemma. We seem to have this emotional attachment to pennies, as we see here in this discussion. And logically, maybe it makes sense to let them go. The benefits of phasing it out doesn’t seem to me to be worth it.

@Breefield, that video was pretty gross.

joeysefika's avatar

In New Zealand we got rid of the 5cent coin. Not really an issue and if something is say 19.95 we get it for 19.90

AlexChoi's avatar

It costs more money to produce the penny than that value of the penny…

http://en.wikipedia.org/wiki/Cent_(United_States_coin)#Numismatics

get rid of em… oh yeah and turn the dollar bill into a dollar coin while you’re at it.

phoenyx's avatar

Isn’t it just a warning sign that inflation is out of control?

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