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Started By
Message
re: The Penny is Dead...new pennies will no longer be created after current stock is exhausted
Posted on 5/22/25 at 11:51 am to StansberryRules
Posted on 5/22/25 at 11:51 am to StansberryRules
If yall don’t think they’re just gonna round prices up to the nearest $0.05 I don’t know what to tell you.
0
Posted on 5/22/25 at 12:12 pm to C
quote:
We need to change these. Can we start making nickels out of pennys?
Just redesign the nickel and use the penny blanks. We would be up 1.3 (former) pennies per coin.
Posted on 5/22/25 at 12:13 pm to GetCocky11
Sam seaborn is smiling somewhere
Posted on 5/22/25 at 12:18 pm to GetCocky11
Canada has been doing this for over 20 years now.
Posted on 5/22/25 at 12:29 pm to GetCocky11
A consequence of debasing our currency and pursuing Inflation Ever After.
Posted on 5/22/25 at 12:31 pm to GetCocky11
So, the price of everything goes up 4 cents?….
Posted on 5/22/25 at 12:32 pm to GetCocky11
Finally!
But seriously, finally
But seriously, finally
Posted on 5/22/25 at 12:53 pm to GetCocky11
quote:
“If it's a penny for your thoughts and you put in your two cents worth, then someone, somewhere is making a penny.”
- Steven Wright
Guess this will no longer apply.
Posted on 5/22/25 at 1:26 pm to GetCocky11
Coins and cash continue to become more useless yet more businesses continue to penalize their customers who choose to use a credit card.
Posted on 5/22/25 at 1:43 pm to gumbo2176
quote:
Everything just went up $.04.
WTF do you think you can buy for a penny in today's economy-----or for that matter, the last decade or more.
Oh, you poor, ignorant person. That's your response to his post?
Posted on 5/22/25 at 2:24 pm to Chad504boy
quote:
That is terrible logic. What can we buy for a dime? Point is, taxes and prices make prices random as frick and pennies are needed to pay in cash and get appropriate change.
Which is why most other rational places include taxes in the listed price. It’s frequently a shock to people visiting the US for the first time that, once they agree to buy something for a set price, that price magically gets bigger when they go to pay.
Businesses can feel free to include the tax on the receipt, but I really wish we would move to posting “full” prices.
Posted on 5/22/25 at 2:27 pm to GetCocky11
quote:
businesses that complete cash transactions will have to start rounding up or down to the nearest nickel.
Gee, I wonder which they will do.
Posted on 5/22/25 at 2:29 pm to tide06
quote:
Everything just went up $.04.
When the half-penny was discontinued, it was worth the modern equivalent of about 18 cents. Which means that, when it was phased out, everything “went up $.18”, as the next smallest denomination, a penny, was worth the modern equivalent of about $0.36. It’s going to be ok.
This post was edited on 5/22/25 at 2:32 pm
Posted on 5/22/25 at 2:39 pm to GetCocky11
Damn good thing we changed that fuse box out for breakers....without a penny all the lights'd be out....
Posted on 5/22/25 at 3:23 pm to GetCocky11
should have been done in the 80s
Posted on 5/22/25 at 3:30 pm to Lonnie Utah
quote:quote:
The production of a penny costs more than the value of the coin.quote:
Well, the logic only makes sense only if a penny is to be used once. Most pennies last years...
Eh that’s not really true. Banks buy coins from the Federal Reserve, who buys them from the US Mint at face value. This means the Mint loses money on every penny that is produced.
Even if pennies stayed in circulation indefinitely, the Mint would still lose money on them. They would just wouldn’t produce nearly as many.
Of course, there are other coins (dimes and quarters in particular) that cost less than face value to produce. So in these cases the Mint makes money on each coin produced (seigniorage) which effectively functions as a tax. But this does not change the fact that eliminating pennies is a net cost savings for the government.
Posted on 5/22/25 at 3:36 pm to GetCocky11
The most obvious wrong board post ever...Money Talk
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