Get Rid of The Penny?

[Justin]

Who would support getting rid of the penny? I hate pennies! Even if i have a pocket full of pennies the smallest i give is a nickel. I think it is stupid to stand at the till and count out pennies. To eliminate the pennies all sales could be rounded up or down to the nearest 5 cents.

[Brownbear]

speak for yourself
pennies add up;)

[gman]

No.

You can get rid of penny yourself by rounding up when giving and rounding down when receiving.

[Justin]

It would work out roughly the same. Some times rounded up, some times rounded down. Then we wouldn't have to worry about carrying pennies around.

[gman]

It would work out roughly the same. Some times rounded up, some times rounded down. Then we wouldn't have to worry about carrying pennies around.

No, I have no problem to carry pennies and other coins.

Just in case, you missed what I wrote, I mean you can get rid of the penny yourself by penalizing yourself in every transaction.

[Paolo]

just toss them in the trash like my friend shawn does. oh wait, hes a loser, dont do what he does, who throws pennies in the trash cus they dont want to carry them in their pocket? what a loser.

[j3fan]

It would work out roughly the same. Some times rounded up, some times rounded down. Then we wouldn't have to worry about carrying pennies around.

Why won't we get rid of the nickel while we're at it...according to your judgement, it will also work out to be the same since you sometimes round up and sometimes round down....heck, why not get rid of all coins and round to the nearest dollar :|

[masterballer]

just toss them in the trash like my friend shawn does. oh wait, hes a loser, dont do what he does, who throws pennies in the trash cus they dont want to carry them in their pocket? what a loser.

First why are you friends with someone you think is a looser? :lol: Second why not just "throw" those pennies in a charity box?

[EH100501AC]

Give them to hobos:twisted:

[boneca]

I usually roll them up and give them to my little nephew who then deposits them into his bank account. He easily scores over $100 a year just from that. Plus I find it's the best coin to use when scratching a lottery ticket :lol: LONG LIVE THE PENNY!!

[charger]

pay with debit card. It's my solution.

[Justin]

The reason i asked this question is because some polititions in the US are trying to get rid of the penny because 1) like myself they think the penny is useless 2) it costs more then 1 cent to produce a penny

[boneca]

Never knew there was so much to the penny lol

* Among the world's largest industrialized countries, low denominational coins remain widely minted. Indeed, there appears to be a relationship between the relative strength of a nation's economy and the number of low denominational coins it produces.

* In the major G-7 industrialized countries, including the United States, Great Britain, Canada, and Japan, the penny or penny equivalent remains in production and shares similar percentages of total coins produced.

* In Canada, whose system of coin and currency is often compared to the United States, The Royal Canadian Mint continued producing the penny even as its cost of production exceeded its face value. It was feared that elimination of the penny would lead to inflation and create adverse public backlash.

* The European Union (EU) has recently adopted the new "euro" currency, including a one-cent euro coin, or "euro penny." Underlying the Europeans' decision to incorporate a low denominational coin was the fundamental aim of avoiding the systematic rounding of prices. The German Ministry of Finance has reported that if low denominational euro coins were no longer available, the EU "would have to pass regulations concerning pricing . . . to avoid a situation in which prices were always rounded up, thus making goods and services more expensive [emphasis added]." The choice for the smallest coin denomination was also mainly based on the European Commission's observation that "in the majority of Member States the smallest coin denomination in circulation has a value equivalent to 1 cent."

[GangStarr]

Tax is 14%, you couldn't get rid of the penny

not to mention its not like you pay full 14% tax on everything. It just wouldn't work.

[Hard_Taco]

I almost thinking about starting a thread about pennies but Justin beat me to it. I usually donate pennies to charities, Toronto Sick Kids and United Way in the Union Station are my favourites. I get rid of newer zinc pennies and spend the copper ones the late 70's to early 90's. Sometimes I freak out workers at fast food joints when I spend a pile of old pennies.

[buddhaboy12]

i must be in the wrong forum... i thought RFDers are penny-pinching scavengers! I'll be keeping my pennies. ;)

[Flyer]

No. what will happen is when you need to pay for something, people will round up. However, when you get paid, chances are they will round down.

[hyperion]

I just throw away pennies or put them in the donation jar.