I read that as "penis" and started worrying that my wife finally signed up for TF and was submitting headlines.

miss diminutive: How else is the government supposed to get your DNA on file?

Ass nickels

Agrees

Seriously. Let's just round them off. Up or down I don't care. We should probably get rid of nickels too.

Roook: Seriously. Let's just round them off. Up or down I don't care. We should probably get rid of nickels too.

Easily.

As I've stated before whenever this topic comes up:

When the Lincoln-head cent was introduced in 1909, it was the lowest-denomination minted at the time. It replaced the Indian-head cent, and was issued in honor of Lincoln's 100th birthday.

The value of the cent at the time is roughly the same as a quarter is worth today. This in a society that was almost entirely cash-dependent (it was for John Q. Public, anyway). Somehow, people managed to get by.

US prices are only stated in $XX.YY format because the cent still happens to be the lowest-denomination coin. Stopping at the cent is entirely arbitrary. There are fractions of pennies rounded up or down all the time -- and some businesses still sell units in fractions down to the hundredth of a mil ($XX.YYYYY). There is nothing special about the cent.

We could eliminate the penny, nickel, dime, and dollar bill, ramp up production of halves and dollar coins, and not only would our coinage system finally be modernized, but it would save the US Treasury millions in minting costs (plus additional profit of seigniorage), AND reduce the number of coins in someone's pocket. Nobody would need more than 4 dollars, 1 half and 1 quarter at any time. Six coins total before you're hitting a fiver.

This thread would be very scary if the word pennies was replaced with an ethnic group.

What kind of countrified rube pays cash for anything anymore?

AdolfOliverPanties: This thread would be very scary if the word pennies was replaced with an ethnic group.

Maybe you don't call an ethnic group pennies, but I sure as do. Dirty rotten pennies, stealing AMERICAN JOBS!

WhoIsWillo: AdolfOliverPanties: This thread would be very scary if the word pennies was replaced with an ethnic group.

Maybe you don't call an ethnic group pennies, but I sure as do. Dirty rotten pennies, stealing AMERICAN JOBS!

I always hold my purse tight when I'm walking down the street and see a roll of pennies.

I don't mind pennies, when I need cash I can lug 30 lbs of them to the coinstar and get like $50.

FirstNationalBastard: I always hold my purse tight when I'm walking down the street and see a roll of pennies.

They think their so cool with their copper skin.

Pennies are cool.

miss diminutive: BKITU: Roook: Seriously. Let's just round them off. Up or down I don't care. We should probably get rid of nickels too.

Easily.

As I've stated before whenever this topic comes up:

When the Lincoln-head cent was introduced in 1909, it was the lowest-denomination minted at the time. It replaced the Indian-head cent, and was issued in honor of Lincoln's 100th birthday.

The value of the cent at the time is roughly the same as a quarter is worth today. This in a society that was almost entirely cash-dependent (it was for John Q. Public, anyway). Somehow, people managed to get by.

US prices are only stated in $XX.YY format because the cent still happens to be the lowest-denomination coin. Stopping at the cent is entirely arbitrary. There are fractions of pennies rounded up or down all the time -- and some businesses still sell units in fractions down to the hundredth of a mil ($XX.YYYYY). There is nothing special about the cent.

We could eliminate the penny, nickel, dime, and dollar bill, ramp up production of halves and dollar coins, and not only would our coinage system finally be modernized, but it would save the US Treasury millions in minting costs (plus additional profit of seigniorage), AND reduce the number of coins in someone's pocket. Nobody would need more than 4 dollars, 1 half and 1 quarter at any time. Six coins total before you're hitting a fiver.

Interesting, I never thought of it that way before.

It's bullshiat. By removing smaller coins, you're only going to see an increase in prices to the larger coins. This will include taxes. What was a 1.09 in PA will overnight become 1.25, with Sheetz pocketing the difference. Also copper is naturally anti-biotic more so than many other metals. So handled pennies are actually some of the cleanest money around.

As long as we have money, we should have pennies.

When we switch to entirely electronic monies, then and only then can the smaller coins be discontinued.


And honestly, looking at Japan and Canada and Europe and every other country in the world: bills are nice but coins are nice too. I REALLY enjoy the 500 yen coins. It's actually really nice not to have to handle paper money. Just flop down one coin and you've paid for a beer a ball game. No 699 yen beers here. The coin keeps the price anchored at 500 yen. And while SOMETIMES it blows back and artificially raises things, usually it's the reverse. Good value in a coin. People don't respect bills the same way as hard metal.

doglover: By removing smaller coins, you're only going to see an increase in prices to the larger coins. This will include taxes. What was a 1.09 in PA will overnight become 1.25, with Sheetz pocketing the difference.

Are all sales taxes rounded up to the nearest smallest-denomination coin now?

(Hint: the answer is "no")

What was $1.09 would be $1.00. What was $1.12 would be $1.00. What was $1.13 would be $1.25.

Over time it would average out to being no more than +/- one unit, just like today.

"zOMG TEHY WILL ALWAYZ ROUNDZ0RS UP!!!11!1!" was a stupid argument 50 years ago, and it's a stupid argument today.

BKITU: What was $1.09 would be $1.00.




You don't know Sheetz.

doglover: BKITU: What was $1.09 would be $1.00.

[www.fatwallet.com image 363x310]


You don't know Sheetz.

And you don't know shiat, so we're even. Want a beer?

BKITU: doglover: BKITU: What was $1.09 would be $1.00.

[www.fatwallet.com image 363x310]


You don't know Sheetz.

And you don't know shiat, so we're even. Want a beer?

Doc said I gotta lose weight and stop drinking.

Compromise? I'm back on the martini boat.

sigdiamond2000: What kind of countrified rube pays cash for anything anymore?

People that need a goddamned cup of coffee, and the tiny place in the subway with excellent coffee doesn't take cards and goddamnit here's the train and I need...$2.15 and a lid...yes, yes, a handful of change...

I prefer this video:

Link (new window)

What will toddlers eat when we do away with small change?

markie_farkie: I read that as "penis" and started worrying that my wife finally signed up for TF and was submitting headlines.

Me too.

BKITU: doglover: By removing smaller coins, you're only going to see an increase in prices to the larger coins. This will include taxes. What was a 1.09 in PA will overnight become 1.25, with Sheetz pocketing the difference.

Are all sales taxes rounded up to the nearest smallest-denomination coin now?

(Hint: the answer is "no")

What was $1.09 would be $1.00. What was $1.12 would be $1.00. What was $1.13 would be $1.25.

Over time it would average out to being no more than +/- one unit, just like today.

"zOMG TEHY WILL ALWAYZ ROUNDZ0RS UP!!!11!1!" was a stupid argument 50 years ago, and it's a stupid argument today.

But the retailer still buys in large quantities and calculates their cost per unit so while your method of rounding makes sense mathematically it might not make good business sense.

Retailers will do what they want. The plan to get rid of nickels and dimes will ever fly with the public. See how long these arguments for ridding ourselves of pennies has gone on and never seems to get much traction.

Due to metal prices, today it costs the US Mint 11 cents to make a nickel.

If I never get another penny it'll be too farking soon. Useless things.

rocketpants: Due to metal prices, today it costs the US Mint 11 cents to make a nickel.

And due to basic macro-economics, that nickle produces many hundreds of dollars over the course of its circulation.