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Death to Pennies!

by MoneyMagnetMagnate
20 replies
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Why Pennies are economically inefficient and should be abolished*. :p

*a penny for your thoughts...or, you can just put your two cents in...:rolleyes:
  • Profile picture of the author Jeff Burritt
    Banned
    Yes! They're net value to the economy is negative. Probably even nickels and dimes too. It would be much more efficient to just round to nearest quarter.
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  • Profile picture of the author PassivelyRich
    Lets hope your government abolishes them soon! Then our British government will follow suit!
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  • Profile picture of the author Alex Barboza
    I misread the title to "Death To Penis" I got very worried.
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    • Profile picture of the author MoneyMagnetMagnate
      Originally Posted by Alex Barboza View Post

      I misread the title to "Death To Penis" I got very worried.
      Would that be considered a 'Freudian Snip'? :p
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    • Profile picture of the author Sumit Menon
      Originally Posted by Alex Barboza View Post

      I misread the title to "Death To Penis" I got very worried.
      Me too!
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      • Profile picture of the author MissTerraK
        If the penny goes into distinction, would would penny loafers be called then.

        Nickel, dime and quarter loafers just don't sound right.

        What will happen to the quote ~ A penny saved is a penny earned? Poor Benjamin!

        Or how will advertisers use "for just pennies on the dollar" in their advertising?

        What about, "See a penny pick it up, all day long you'll have good luck? The movie Grease will have to be edited!

        Next they'll want to do away with the nickel and the phrase it's about as valuable as a plug or wooden nickle will become meaningless.

        Then what? The dime? So much for dime sales. :rolleyes:

        Death to pennies? Booo!

        Oh, sorry. Haha!

        Terra
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        • Profile picture of the author Riptor
          Well I have 3 pennies so far that I will never be getting rid of, they are
          Edward I (longshanks) Long Cross Silver Pennies dated 1279-1344
          2 London Mint
          1 York Mint

          Yep i am a metal detectorist.
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    • Profile picture of the author RyanEagle
      Originally Posted by Alex Barboza View Post

      I misread the title to "Death To Penis" I got very worried.
      Oh god, no! lol
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      • Profile picture of the author tagiscom
        Next they'll want to do away with the nickel and the phrase it's about as valuable as a plug or wooden nickle will become meaningless.

        Then what? The dime? So much fore dime sales. :rolleyes:

        Death to pennies? Booo!

        Oh, sorry. Haha!

        Terra
        Hmmmmm, Uncle Scrooge won't be happy!!!! :rolleyes:



        Shane
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  • Profile picture of the author doitright316
    I have always wondered why the penny is still in the circuit, soon I think everything including money will become digital.
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  • Profile picture of the author GT
    The death of the penny has already been decreed here in Canada. I am sure that if our world lasts long enough, other coins will follow, and eventually paper money, too.

    What I don't like about the death of the penny (and other coins) is that it seems to give merchants a legal excuse to raise the price on everything, to round things up to the next zero or five cents.

    GT
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    • Profile picture of the author Daniel Evans
      I'm all for this!

      I can't even be bothered with any kind of coin.
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  • Profile picture of the author seasoned
    I have a BETTER idea! Rather than killing yourself, every time you have a cold, which is what you suggest, why not CURE THE SICKNESS!!!!!!!!

    The sickness is called INFLATION! Cure THAT, and pennies mean more and we can keep them!

    This is NOTHING new though! In 1989, Denmark got rid of the 1,5, and 10 ore! People had to round up or down to the nearest 25ore. BTW at the time, 25ore was worth 3-5 cents.

    And HOW do I know about denmark? I traveled there in 1989, and was given a chart to convert.

    Steve
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  • Profile picture of the author betterwtveter
    Pennies are in the negative today concerning value and it is sad that our economy is still heading in that direction.
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  • Profile picture of the author whateverpedia
    1 and 2 cent coins were taken out of circulation in Australia back in the 90's.

    The change over was heavily policed so retailers couldn't round everything up. In some cases the price dropped as they had to be rounded down.

    In the end though no-one noticed it and life has gone on.

    It gave me a reason to finally get rid of a big jar full of 1 and 2 cent pieces. Got them changed at the bank and got about $6 for them. Big deal.
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  • Profile picture of the author Jeff Burritt
    Banned
    Perhaps it's a plot by the copper industry. Pennies are mostly copper right?

    But it would be good news for consumers. Housing material costs might decrease. Maybe some electronics too.
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    • Profile picture of the author tagiscom
      It gave me a reason to finally get rid of a big jar full of 1 and 2 cent pieces. Got them changed at the bank and got about $6 for them. Big deal.
      Yep, l remember that! Kids were on the news trying to show how many things 1 and 2 cent coins could buy!

      I remember they bought Wizz-Fizzies, (sherbert type lollies) and a handful of other things! :p

      I also remember when AU, bought into circulation the $100 dollar note, or was it the $10 dollar note? :rolleyes:

      Anyway it was the one with Captain Cook as a holographic type image, it was later found out that it could be scratched off, and so, first editions were worth a lot!

      I went into the Reserve Bank Of Melbourne, hoping to buy a wad, but back then, l wasn't in the money!

      Yep, it was this $10 note, 1988 polymer note, half way down the page!!!!

      Banknotes of the Australian dollar - Wikipedia, the free encyclopedia

      Shane

      PS apparently we are getting a new $10 note, with a holographic tortoise, hopefully if the tortoise comes off easily they may be worth a mint, time will tell...:rolleyes:

      Google Image Result for http://resources.news.com.au/files/2012/09/27/1226482/301770--10-note.jpg
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    • Profile picture of the author seasoned
      Originally Posted by Jeff Burritt View Post

      Perhaps it's a plot by the copper industry. Pennies are mostly copper right?

      But it would be good news for consumers. Housing material costs might decrease. Maybe some electronics too.
      NOT ANY MORE!!!!!! They got rd of copper some time ago. The amount of copper to make a penny then was worth like 5 cents!!! Zinc Pennies and Copper Cents - How Can I Tell if My Penny Is Copper?

      As for "nobody missing them"? **********BULL***********! You just don't REALIZE that you miss them. It is the proverbial frog in the pot!

      Did I say Denmark got rid of the 1 ore? Well, not REALLY!!!!!!! I said 1, 5 AND 10! Likewise, people have advocated penny, nickle, and dime. What's next? QUARTER? DOLLAR? $10?

      So we spend BILLIONS to renumber our currency because someone STOLE so much from us that we should just let it CONTINUE as inflation? That IS what it is! THEFT!!!!!

      Steal 50% of the wealth, and the value of money decreases 50% so everyone has to spend TWICE as much. If they have to spend 5 times as much, a nickle becomes worth a penny, and a penny is basically WORTHLESS, so people advocate getting rid of it.

      It is like a person embezzling half a company that you have stock in, and then throwing the certificates away because they aren't worth as much. Why not PROSECUTE the guy? At least make it harder to embezzle.

      Steve
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      • Profile picture of the author MoneyMagnetMagnate
        Originally Posted by seasoned View Post


        As for "nobody missing them"? **********BULL***********! You just don't REALIZE that you miss them. It is the proverbial frog in the pot!

        Steve
        I have never heard this colloquial phrase before...but since it reminded me of MPFC...I just can't resist...:p

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  • Profile picture of the author seasoned
    Boiling frog - Wikipedia, the free encyclopedia

    BTW I think it is true with EVERY creature, but it is tue with nearly EVERY human! That is a fact that can be shown all over, including THIS case, so it doesn't matter WHAT people claim about the frog.

    Steve
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