Please explain

tedog

Member
Joined
Mar 15, 2011
Messages
591
Reaction score
506
City & State/Province
WV
Canada stopped minting the one cent coin in 2012. It cost the US mint 2.4 cents each in 2011, now it is down to 1.7 cents each. Why are we still using the penny? Just wondering....
 
the cash registers could be programed to round up or down to the nearest increment of 10 cents and eliminate the nickel as well
 
I want to know why when you buy gas or cigarettes, you pay what the advertised price is, the tax is already in the price. Why isn't everything else like that? It is in other countries, why not here? If we do away with the penny, the Fed should make every bank buy them for face value. The fact that some banks will charge you 10% to take your money, just because it's coins, is piracy.
 
I've been an advocate of dropping the penny for years, and even better drop the $1 bill for a $1 coin. I've been to Europe a couple times since I retired, and the Euro has a 5 as the smallest bill. They have a 1 Euro and a 2 Euro coin, and no one has any problem with it. But they still have a copper/alloy penny.
 
Even MORE Ridiculous Gas prices ending with .9 cent

Even MORE Ridiculous:

Gas prices ending with .9 cent

With current prices that .9 cent is approximately 1/2 of one percent.

Bekeart
 
State sales tax.

Bingo! Give that man a Cupee doll!

The guv'mint tried the $1 coin some years ago. They brilliant designers decided to make it the same size as the quarter. People couldn't run away from them fast enough.

i agree the penny needs to go but tell that to states and cities who would have to re-figure all those sales tax tables.You'd hear the screams on Pluto.
 
I lived in countries where small coins were non-existent. The customer was the one who always lost. The price always rounded up, never down.

When the Euro was introduced, many prices went up in Italy because the conversion left many prices hanging just a few cents short of a major coin value (20c and up). What did merchants do? Round up to avoid having to handle change. Who paid? The customer.

Keep the penny.
 
You guys have way more time on your hands than even I do.....:D
 
I want to know why when you buy gas or cigarettes, you pay what the advertised price is, the tax is already in the price. Why isn't everything else like that? It is in other countries, why not here? If we do away with the penny, the Fed should make every bank buy them for face value. The fact that some banks will charge you 10% to take your money, just because it's coins, is piracy.
Because here tax us different by state, city and county even. So the price shown will always be different. And here in Pa cigarette are one price and then tax is added at the counter, like everything else
 
Notice how cheaply made new Pennies are. I see them on the ground often and just leave them there.The only ones ill bend to pick up--are the ones that still have Bronze in them. Since it would probably be affordable? why dont they start making two cent coins???
 
Canadian cash registers are programmed to round up or down. In the long run who cares if you win or lose. The $1 coin (the loonie since it has an engraved loon) and then the toonie $2 coin are very convenient to use. The govt saves a whole lot of money not printing paper for small denominations since coins are much more durable. You would be amazed how easy it is to save enough for a new gun by putting all your coins every day in a coin jar when the $1 and $2 are in the mix
 
Just do away with all cash. Implant a chip that automatically debits from your account, to which your pay is automatically deposited.

Each chip should contain a series of digits for identification. Three groups of six digits should about do it......
 
Just do away with all cash. Implant a chip that automatically debits from your account, to which your pay is automatically deposited.

Each chip should contain a series of digits for identification. Three groups of six digits should about do it......
Just a matter of time.

Just pretend this is witty.
 
I spend a considerable amount of time working up in Canada, ehh, and can say that it was a pretty flawless transition. Credit transactions are still done to the cent, but cash rounds up/down. And while there is no sales tax as we know it in the States, you have a national tax(GST) and Provincial tax(PST) on most purchases. It is usually combined into a HST, of aboot 15%..... Alberta is the exception with the PST, but now with oil in the tank, and their economy being based on the oil sands.... won't be long. Loonie is down to aboot .80/USD.

Show me an elected official in any country that actually wants a sales tax reversed, and we will both know what a liar looks like....
 
Just a little history (As it was told to me).

Back at the turn of the century (1900 or so) JC Penney was said to have started the practice of pricing things in odd cents (6.99, 2.98 ect.) because it forced his sales staff to make change and therefore forced them to enter the sales onto the old style manual cash registers of the time and removed the temptation of pocketing the money from sales in the store. (Kemmerer, Wy. is the home of the Mother store of the Penney's empire) GB
 
No .... just no.
Think of all the money handling equipment that would need to be replaced as it's engineered around the existence of the penny.
Such a decision should also come with a rider to exchange, free of charge, every cash register in the country.
 
They DID make a one dollar.....

They did make a one dollar coin. Remember the Susan B. Anthony dollar? When they came out feminists thought she was too pretty, so the engravers had to ugly her up a bit. And they went too far. The only redeeming features was that it had surfaces on the interior of the rim so blind people could count it. It was the same size as a quarter and was often mistaken for one. They were called 'Carter Quarters'. Everybody hated them so now the government has a few million of them in storage.

I guess all this goes to say that even if the gubment eliminated the penny they'd find some way to REALLY muck it up.
 
Just do away with all cash. Implant a chip that automatically debits from your account, to which your pay is automatically deposited.

Each chip should contain a series of digits for identification. Three groups of six digits should about do it......

And exactly how long would it be before the North Koreans hacked into that one. No thanks, the government has enough ways to track us now.
 
  • Like
Reactions: A10
Who's gonna want my 10 gallon crock full of pennies? I've been throwing them in there for 30 years. I can't even move it anymore!
 
Back
Top