Pennies

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TIMETRIPPER said:
They have been trying to do that for years. Remember the Susan B. Anthony and Sacajawea coins? Trouble is, our government keeps printing paper dollars. The Canadians did it right. Once they started stamping out Loonies, they quit printing dollar bills. They also were smart enough to make the Loonie noticeably different enough so as not to be confused with their quarter.

John
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Sure, I remember and use those coins.

As for making the coins different from the 25 cent piece, ALL dollar bills are the same size! When was the last time you mistook a $50 bill for a $5 bill?

Kevin
 
Yaworski said:
Wow! It costs three cents to make something that will last centuries.

Do they really need to make more pennies? Have they needed to make pennies for decades? They don't wear out.
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Correct, they rarely wear out but most folks don’t carry them out of the house. They just sit in a box, jar, whatever and collect dust.

Kevin
 
gwpercle said:
I have noticed lately that gas stations and restaurants can give you a discount if you pay in ... cash . The bank charges a business a fee on a credit or debit card transaction .
I think the banks may be losing some business (fees) because more are paying in cash to get the lower prices .
Banks are just going to have to do something about this paying in cash stuff ... it ain't making them no money !
Watch them close ... banks are good at getting us .
Gary
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Businesses that do this are very short sighted. While it is true, there is a cost to processing credit & debit transactions, in the long run it is costing them more to accept cash. With cards, they receive 100% of receipts into their bank account. There is always shrinkage with cash and counting/depositing currency & coin is labor intensive.
 
A while back I gifted my GD an old Mexican Shaving Kit almost filled with Wheat Pennies.
Recently I asked my Dau what happened to it?
She replied it’s in the bottom of my safe.
I told her to leave it in there and let it ride!
 
In other words we are been affected by inflation, cost too much to make the money we spend.
 
StrawHat said:
Correct, they rarely wear out but most folks don’t carry them out of the house. They just sit in a box, jar, whatever and collect dust.
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I try to always have a couple pennies and a couple nickles.
 
TIMETRIPPER said:
They have been trying to do that for years. Remember the Susan B. Anthony and Sacajawea coins? Trouble is, our government keeps printing paper dollars. The Canadians did it right. Once they started stamping out Loonies, they quit printing dollar bills. They also were smart enough to make the Loonie noticeably different enough so as not to be confused with their quarter.

John
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My extended family used to take fishing trips in Canada. When we stopped for lunch somewhere in Canada we paid with Canadian paper money. The cashier said the only time they saw paper $1 and $2 bills was when the Americans were bringing them back.
 
Thirty-ish years ago I determined that the US mints had coined enough pennies between 1959 and then to make three stacks of cent coins from Denver to the moon. I’d bet the numbers for nickels would be similar. We don’t NEED to make more of either. We quite making them, round up and I’d bet the hoards would start showing up in circulation. And, yes, the mints have been cranking out bigger numbers of them since the 90’s, so my old numbers-figured would be lots bigger, counting up till now.
 
ZGrand said:
We had $1 coins not too long ago. Just bring them back.

View attachment 803021
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Sacawajea dollars are still being minted. Every couple years the reverse side is changed to honor various American Indian personages. I think I have a roll of Sacawajea dollars with Jim Thorpe on the reverse side. They are special to me because Jim Thorpe went to school in Carlisle, PA and so did I.
 
I'm sure "they" would love it if ALL transactions went digital. More control. I do remember penny candy.
 
Ours are steel with a copper wash/nickel wash. They don't last long if dropped in the street, a day or two being run over and they start to rust.
 
Yaworski said:
Wow! It costs three cents to make something that will last centuries.

Do they really need to make more pennies? Have they needed to make pennies for decades? They don't wear out.
Click to expand...
Wrong. Pennies DO wear out. The material they are made of degrades in weather; copper does not.
Everyone is pushing toward a cashless society. I have a problem with that even though I am aware that it is inevitable but not in my lifetime.
I wrote an unpublished editorial a few months back about what should be done with our currency. My suggestions were the elimination of the penny and half-dollar coins except for mint collectors sets. A gold one dollar coin would replace the $1. The $2 would be available but only in collectors sets. The $5, $10 and $100 bills would remain. The $20 and $50 would be discontinued and replaced by a $25 bill. The $500 would be brought back in limited amounts.

Would be a good amount of saving money there to be sure, but would also make many transactions easier across the board.

My 0.02 worth (pun intended)
 
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