MN Hookah Posted September 17, 2006 Share Posted September 17, 2006 I know this comes at a time when a certain cell phone company is using save the penny as a launching pad for their text messaging, but do you think we should get rid of the penny? I know every so often a congressman from Arizona puts it up for a vote in the House, but what do you think about that? Link to comment Share on other sites More sharing options...
ghostofdavid Posted September 17, 2006 Share Posted September 17, 2006 Horrible idea. Why? Because the consumer will never receive the better end of the deal. The four cent disappearing profit will all go towards the benefit of the company. Until I can be convinced otherwise, that is what I think. Link to comment Share on other sites More sharing options...
DarthHookah Posted September 17, 2006 Share Posted September 17, 2006 i agree with the comunist. losing the penny would hurt the people and help the companies. think of how many places end all of their prices in 9. thats 4 cents that goes to them and away from us. imagine, in one day for the store, that 10,000 sales were made (i made the number up. i cant possibly imagine what its really like). 10,000 times 4 (the extra foru pennies that come from you and go to the store)is 40,000, making them a profit of $400 a day (146,000 a year in profits, 146,400 on leap year). think of all the things you buy the end in nine. all that spare change goes to the companies. i say keep the penny. Link to comment Share on other sites More sharing options...
MN Hookah Posted September 17, 2006 Author Share Posted September 17, 2006 In respect to how it would be rounded...From [url="http://money.cnn.com/2006/06/01/news/newsmakers/penny/index.htm"]http://money.cnn.com/2006/06/01/news/newsm...penny/index.htm[/url]"Kolbe's 2001 legislation proposed that cash transactions ending in 1, 2, 6, or 7 cents should be rounded down to the nearest 5 cents, while transactions ending in 3, 4, 8, or 9 cents would round up. Credit and debit card transactions could still be valued to the nearest cent." Link to comment Share on other sites More sharing options...
EvansLight Posted September 17, 2006 Share Posted September 17, 2006 wouldnt bug me at all, i never used pennies anyways. they end up on the floorboards of my car, now who needs that Link to comment Share on other sites More sharing options...
DizzyGuy Posted September 17, 2006 Share Posted September 17, 2006 They always end up in the good ole coin star when i need cash Link to comment Share on other sites More sharing options...
Johnny_D Posted September 17, 2006 Share Posted September 17, 2006 We had much the same in the UK when 'they' decided to rid us of the 1/2 penny. Guess what - Everything went up And for commerical users it became nothing short of a nightmare. Indeed even now it still presents a problem JD Link to comment Share on other sites More sharing options...
Sonthert Posted September 17, 2006 Share Posted September 17, 2006 There was a time, in this country, my friends, when the currency values were (not necessarily at the same time):1/2c1c2c3c5c (Nickel)/ 1/2dime (silver!)10c20c25c50c$1$2.5$3$4$5$10$20$50There were also 1/4 penny paper currency printed for awhile, early in this country, before coinage was widespread. There have been "reconstructions" of the currency system which usually involve several coins. For instance, the same time the half penny coin disappeared, the penny was reduced in size and the nickelchanged from a half disme (dime) made of silver to a nickel.1. Screw the penny, let it die, there are neither 2 nor half penny pieces anymore, its another coin that falls under the wratcheting inflation.2. The banking industry who controls the making of money also runs the credit card companies, who are making absurd and previously illegal usurious amounts of interest in this country don't want there to be cash. They want an all electronic system so that they can charge and fee everyone and make absurd amounts of money. Essentially, we'll all be giving them a little money all the time, essentially working for them for free a little bit all the time, essentially legally forced slavery. Until 1934, there were $10000 bills(For public transactions, for banking transfers, there were $100,000 bills)...now the largest denomination is $100. In 1934, you could buy a Ford for around $700, if memory serves me, so the largest public circulation bill would buy around 14 cars. Now, with cars at $12000, conservatively, we should have circulation bills of at least $100,000 to match pace. We don't. We have the one hundred dollar bill. As long as we have cash, they can't enslave us. Yes, I know I am abusing the hell out of the word slavery...exploitation comes to mind, but exploitation has a way out and a legal remedy. This does not. Once we trust them to do all the control and bookkeeping, we're screwed. This from a guy who doesn't believe in conspiracies. They've been saying "go to an electronic system" for years. Where is the regulation? Where are the rules? How can we base our entire economy on an "Lawless frontier" and trust that our interests will be represented by the companies who stand to profit the most at our expense? Regulate the credit card companies/banks far more heavily. Is it a surprise that the regulatory agencies that oversee the banks are themselves not elected officials, but appointed from within the banking community? America needs to go back to a two-member system of currency production, the federal reserve and the federal government. Its not a well thought out plan, but allowing the banks to run the show is a mistake. There was a time when the social security number idea was new, many people didn't have them because they didn't want an obvious system of control and numbering/identification. We were all assured up and down that they would "Never be used for identification purposes." Ha! Empty promise there. Nobody has ever said electronic economy will even be fair...no empty promises to keep. Link to comment Share on other sites More sharing options...
DarthHookah Posted September 17, 2006 Share Posted September 17, 2006 damn it, tang, you amke me want to start a revolution all over again! Sic Semper Tyrannus! Link to comment Share on other sites More sharing options...
SanguineSolitude Posted September 18, 2006 Share Posted September 18, 2006 sometimes i throw pennies away because theyre essentially worthless to me. simply not worth the time it takes to bundle 50 of them together just to have enough money for half a pack of gum. screw the penny. Link to comment Share on other sites More sharing options...
alice Posted September 18, 2006 Share Posted September 18, 2006 I f**ckin' hate pennies. Link to comment Share on other sites More sharing options...
joetuo Posted September 19, 2006 Share Posted September 19, 2006 Not only am I in favor of the pennies death, but I would like to see large coins like the swiss franc. I think it would be awesome if we had $5 coins and they need to bring back the silver dollar. Link to comment Share on other sites More sharing options...
Sonthert Posted September 19, 2006 Share Posted September 19, 2006 Yeah, but Eisenhower, huge honking dollars, the kind that kill people when dropped from tall buildings...not the same stupid nearly a quarter sized ones they have been palming off on the American public. Link to comment Share on other sites More sharing options...
nuschultz Posted September 19, 2006 Share Posted September 19, 2006 Im for the destruction of the penny. It really just pisses me off when I log into my bank account and see the $0.83 addition to my massive wad (read: im broke) of cash. THe penny really is just one more useless piece of currency. And I agree on the wrapping them thing. Not worth it. Coin star? You drop in 50 pennies and u get 46 back, as its normally around an 8% charge on the dollar!NOT WORTH IT. Link to comment Share on other sites More sharing options...
DarthHookah Posted September 19, 2006 Share Posted September 19, 2006 they did something on mythbusters where they proved that dropping a coin off of the sears tower will NOT kill someone. they even made a gun that shot the coin out at the same speed, it just left a welt on their head. they also made a gun that shot them out fast enough to break through a skull, and it was more powerful than just gravity. Link to comment Share on other sites More sharing options...
Sonthert Posted September 20, 2006 Share Posted September 20, 2006 Yeah, but I think an Eisenhower dollar is powerful enough to kill. Link to comment Share on other sites More sharing options...
sabsz Posted March 30, 2007 Share Posted March 30, 2007 I flick pennies at people thats all they are good for, that and paying the exact amount for coffee. Link to comment Share on other sites More sharing options...
kornkitten42 Posted March 31, 2007 Share Posted March 31, 2007 i'd be sad to see the penny go, yes they are a pain because vending machines dont take them but to me the death of the penny is like people saying that pluto is not a planet anymore.I hate change like that it bothers me. i dunno.i like coin star! Link to comment Share on other sites More sharing options...
LilTank13 Posted April 1, 2007 Share Posted April 1, 2007 While I don't think I can contribute quite like Sonthert, I feel that Coinstar is a little ridiculous. Most banks will accept bulk change, and not charge you to process it. I dislike the idea of using coins as relatively large currency. I would rather carry a light, foldable bill than a shit ton of coins. That was one of my biggest gripes about traveling in Canada. Link to comment Share on other sites More sharing options...
Johnny_D Posted April 2, 2007 Share Posted April 2, 2007 We had a similar thing in the UK about 20 years ago (Christ i really am getting old )we used to have the 1/2 penny. And in the local sweety shops you could buy 1/2 penny chews! Now what happened when the 1/2 penny got binned?All the 1/2 penny chews went up to 1penny chews. 100% Increase!!!Now this may not create much in the individual mind. But for globalhypermeganet with 34,232,342 customers allnow having to pay an extra 1/2p a month..... CAH-CHING baby!So as someone said earlier, you ditch your penny, everything goes up by 1p (theorically anyways, I doubt it will go down somehow) And who benefits? Not you.Just my 1/2p's worth JD Link to comment Share on other sites More sharing options...
hookahmike Posted April 2, 2007 Share Posted April 2, 2007 I think anything that put more $$ into the Corporate States of America is a BAD thing, so KEEP THE PENNY! Link to comment Share on other sites More sharing options...
djbomberto Posted April 2, 2007 Share Posted April 2, 2007 more pennies= more money. Link to comment Share on other sites More sharing options...
ShishaFred Posted April 3, 2007 Share Posted April 3, 2007 We have the same discussion here in Canada. Eliminating the penny would be VERY beneficial for the economy because it's money that is ont in circulation. There are some countries that have no such thing as the penny , like Singapore. Everything ends at .95 , that's it , no drama..99 is just there so it looks cheaper than it actually is... if you add up the taxes here you end up with with 1.14$ on a .99$ item. You can do away with the penny , you just need to calculate prices with taxes to end at a multiple of 5.Kill that penny Link to comment Share on other sites More sharing options...
Hookah_Bob3 Posted April 3, 2007 Share Posted April 3, 2007 QUOTE (DarthHookah @ Sep 16 2006, 11:40 PM) <{POST_SNAPBACK}>i agree with the comunist. losing the penny would hurt the people and help the companies. think of how many places end all of their prices in 9. thats 4 cents that goes to them and away from us. imagine, in one day for the store, that 10,000 sales were made (i made the number up. i cant possibly imagine what its really like). 10,000 times 4 (the extra foru pennies that come from you and go to the store)is 40,000, making them a profit of $400 a day (146,000 a year in profits, 146,400 on leap year). think of all the things you buy the end in nine. all that spare change goes to the companies. i say keep the penny.I'm not sure if this has been brought up or not, but do you know why companies do that? (9.99 instead of 10.00) There's a psychological effect that makes 9.99 seem like a better deal than 10.00Apart from that, when was the last time you ACTUALLY paid 9.99 for something? There's always tax associated with it, so it could just be a 1 cent difference in the end, in which the company may find it prudent to actually GIVE you the extra cent in an effort to save time.I don't know, that's just what it seems like to me.Now on the note about keeping/getting rid of pennies. I say keep them but produce no more. There are plenty in circulation to never have to produce another penny again Link to comment Share on other sites More sharing options...
sicklecow Posted April 4, 2007 Share Posted April 4, 2007 Get rid of the penny? How will we know when our tires need replacing? Link to comment Share on other sites More sharing options...
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