Do we still need the penny?..1 cent coin?..

[Civickiller80]

There has been some talk where I'm from that the penny should be taken out of circulation and prices just rounded up or rounded down to the nearest $0.05 (most likely up I bet)

I believe Australia, New Zealand, and Finland has eliminate the 1 cent coin and round up or down prices

Really is a penny or 1 cent coin necessary?....
What can you buy or do with pennies, most people just store them in jar, throw them away, some people don't even want the coin....

What do you think...has the penny outlived its time and need
or do we need them to buy things to keep prices and inflation lower

 

[Christmas_Ape]

The penny is like a gun. We'll never get rid of 'em.

 

[Will E Worm]

The penny can be disposed of if everything is rounded down at least a dollar and gas prices drop to affordable prices. Like before the first Gulf War.

:hammer: :hatsoff:

 

[meesterperfect]

If it is taken out of circulation then sales taxes must rise to 10%
Tax em when they earn it, tax when they spend it.
My answer is hell no.
We could use a man like John Adams again.

 

[mongo18]

We did get rid of them in Australia and everything is rounded to the nearest 5, but as a sum total. For example if you buy 5 items at $1.02, it's not $5.25, but $5.10 you pay, as they leave the rounding till the end. Everybody is pretty happy with the system and nobody misses those little coins. But since we're on the topic, WTF is with leaving the tax off shelf prices and then adding it at the register? That's a load of bullshit. In Oz, the price on the shelf is what you pay at the register.

 

[Civickiller80]

We did get rid of them in Australia and everything is rounded to the nearest 5, but as a sum total. For example if you buy 5 items at $1.02, it's not $5.25, but $5.10 you pay, as they leave the rounding till the end. Everybody is pretty happy with the system and nobody misses those little coins. But since we're on the topic, WTF is with leaving the tax off shelf prices and then adding it at the register? That's a load of bullshit. In Oz, the price on the shelf is what you pay at the register.

I agree...here in Canada most prices are like $19.99 but then have 13% tax added...making the item $22.59...in places like Europe the price you see, is what you pay...my guess would be that economists thing that if people see lower prices on shelves they will buy more...

Thats interesting how the price breakdown is

 

[Facetious]

I've been asking this for years ! I'm eager to see how the .01, .02, .03, .04. cent change will iron itself out. Knowing the disposition of those in Washington, they'll likely not follow with the Aussie model. A complicated mess is what they'll create, like the tax code, IMO


A cashless society maybe ? :eek:

 

[Becks...poamr]

I like me my pennies.

 

[Civickiller80]

I've been asking this for years ! I'm eager to see how the .01, .02, .03, .04. cent change will iron itself out. To who's advantage will the third cent go ? How will it all be rounded out.

A cashless society maybe ? :eek:

heres a cbc website article explaining how the rounding off is done called Swedish rounding(chart included on the bottom)

http://www.cbc.ca/news/background/economy/penny.html

A cashless society...hmmm maybe a new poll...lol...

Who uses debit vs cash...

I hardly ever carry cash maybe $20 bill but mostly I pay for stuff with debit/interac or credit card...so maybe the penny has more of use in a cashless society....

 

[Friday on my mind]

A cashless society scare me a bit.I worry about every purchase being in a data base and the information about you being used to manipulate you even more commercially then we are now,but it may be something that is inevitable I guess.But yeah I think the penny is outdated,doesn't it cost more than its worth value wise to make one?

 

[Jagger69]

There has been some talk where I'm from that the penny should be taken out of circulation and prices just rounded up or rounded down to the nearest $0.05 (most likely up I bet)

I believe Australia, New Zealand, and Finland has eliminate the 1 cent coin and round up or down prices

Really is a penny or 1 cent coin necessary?....
What can you buy or do with pennies, most people just store them in jar, throw them away, some people don't even want the coin....

What do you think...has the penny outlived its time and need
or do we need them to buy things to keep prices and inflation lower

Fuck yes! Round everything up or down. Pennies are a pain in the ass.

:thumbsup:

 

[Fresno]

I myself like the pennies.

 

[Eric Lindros]

Doesn't matter to me.

 

[member006]

Of course we need them, pennies add up.

I also round off my checking account always to the next dollar in my records. I use my balance as available not theirs. At vacation time that extra goes in my mad money to blow at the beach. It all adds up in the end. My close friend who used to say it was bad policy told me recently her charge card is doing that for her now. Not such a bad idea after all huh?

LL

 

[ERC LL KK 4]

Boy, you really are stretching for conversation if it comes down to this... :tongue:

I say yes. People still use coins to pay, and collecting them is another market incentive that gets people more involved in our money.

 

[slowhand]

I say yeah pennies are not that bad and they been around since the test of time. :thumbsup:

 

[Torre82]

Screw cash altogether. Slap some biometrics security and mandatory passwords onto the credit cards and get rid of cash. AND ESPECIALLY CHECKS! DEAR G_D... if I have to see another old-assed retired person writing a check and bitching when we ask for I.D. ....

Checks are like layaway. They're both more trouble than they're worth and places have started not to do either as the years go by.

As far as our purchases being put into a database somewhere..there are plenty of ways to put a 'proxy' between your personal account and the 'bit trail' left at the checkout register. Gift cards... paypal C-cards and such..

or just steal it.

 

[bigbadbrody]

Tghe only things pennies are good for are taking up space in your pockets or purse. Pennies should be outlawed. Why not just round everything up to the nearest dollar and then pennies would not be needed.

I used to collect all my pennies and roll them, but that was such a wate of my time that now i just thow away my pennies in the garbage in a car or I stuff them in the couch

 

[squallumz]

ive always said, the answer isnt in getting rid of the penny, its about making it worth something again.

 

[D-rock]

I'm not an expert on the history of coins in this country, but at one point a long time ago didn't we have coins that were a fraction of one penny that we have since gotten rid of? If we got rid of the penny it would work out after a while, although like meesterperfect said I don't know what states would do with their sales tax in that situation.