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View Poll Results: What U$ coins should be gone?
1 cent (penny) 35 35.35%
5 cent (nickel) 4 4.04%
Both 1 and 5 cent 15 15.15%
No, they are useful 45 45.45%
Voters: 99. You may not vote on this poll

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Old 01-20-2009, 03:50 PM
 
Location: Colorado
4,308 posts, read 11,815,003 times
Reputation: 4425

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I keep my pennies in a penny jar. When it's full I take it to the change machine and there hasn't been one occasion where I haven't made under $12! Which is not to be sneezed at.
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Old 01-20-2009, 06:23 PM
 
Location: Pahoa Hawaii
2,082 posts, read 4,734,263 times
Reputation: 2771
Don't expect any businesses to round down. A lot of places deal in such volume, (Walmart for instance), that profit on some cheap items is only 1 or 2 cents. The price will be rounded up to insure you pay the difference, not them.
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Old 01-20-2009, 06:53 PM
 
Location: Orange, California
1,573 posts, read 5,654,972 times
Reputation: 721
I agree that the penny has to go. It is a nuisance coin. More time is spent counting them out and giving/receiving them than they are worth. Time is worth something and it is more than the few seconds it takes to trade in pennies.

And I, for one, do not mind paying shopowners a couple extra pennies (if necessary) in this economy to help keep them afloat.
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Old 02-26-2009, 09:41 PM
 
88 posts, read 279,377 times
Reputation: 53
Here's one for everyone to kick around:

Get rid of ALL cash.


Think about the benefits:

~ Eliminates the cost of printing and maintaining the money supply (which is immense)

~ Would reduce armed robberies by an amazing percentage (no more bank robberies, no more knocking over 7-11s, etc)

~ Would make drug dealing much more difficult to do, and much easier to prosecute

~ Would create a record of all bribes in some fashion

~ Would virtually eliminate illegal immigration (they would only be paid thru a bank account, which they would be unable to open without documentation)

~ Would eliminate much of the tax evasion that takes place by people paid in cash

~ Would make many types of money laundering more difficult

~ Would make terrorist financing much more detectable and traceable

I'm sure there are more that I have not thought of.


Anyone got any downsides to present?
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Old 02-26-2009, 09:48 PM
 
Location: AZ
1,454 posts, read 3,946,978 times
Reputation: 763
Quote:
Originally Posted by Silent1900 View Post
Here's one for everyone to kick around:

Get rid of ALL cash.


Think about the benefits:

~ Eliminates the cost of printing and maintaining the money supply (which is immense)

~ Would reduce armed robberies by an amazing percentage (no more bank robberies, no more knocking over 7-11s, etc)

~ Would make drug dealing much more difficult to do, and much easier to prosecute

~ Would create a record of all bribes in some fashion

~ Would virtually eliminate illegal immigration (they would only be paid thru a bank account, which they would be unable to open without documentation)

~ Would eliminate much of the tax evasion that takes place by people paid in cash

~ Would make many types of money laundering more difficult

~ Would make terrorist financing much more detectable and traceable

I'm sure there are more that I have not thought of.


Anyone got any downsides to present?
I dunno, that's too big brothery. Plus I just like the feeling of giving cash sometimes. How will those roadside kid business lemonade stands ever survive?
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Old 02-26-2009, 10:21 PM
Status: "Summer!" (set 26 days ago)
 
Location: Foot of the Rockies
87,020 posts, read 102,689,903 times
Reputation: 33083
Quote:
Originally Posted by Silent1900 View Post
Here's one for everyone to kick around:

Get rid of ALL cash.

Anyone got any downsides to present?
Is the alternative paying everything with credit cards/bank cards? My daughter just got a notice from her bank that her Check Card was "compromised". That is one downside.
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Old 02-27-2009, 11:18 AM
 
Location: Cold Frozen North
1,928 posts, read 4,635,423 times
Reputation: 1274
No way would I want to eliminate cash. I don't want the guberment and large corporations knowing every financial transaction I make. It's none of their business! I don't trust them.
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Old 02-27-2009, 03:29 PM
 
Location: Rochester, NY
1,293 posts, read 4,335,485 times
Reputation: 359
I almost never use cash now. Society is almost to the point where you don't need it anyway. The problem is the fees associated with the bank/credit cards.
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Old 02-28-2009, 12:29 PM
 
Location: Atlanta
2,851 posts, read 5,593,777 times
Reputation: 1723
A friend from England suggested they get rid of all paper dollars and only have coin ones which would make American currency more similar to most of Europe's. He complained that he's often fooled into thinking he has plenty of cash when in reality he only has several one dollar bills in his bill fold. A problem he doesn't have in merry old England.

On the other extreme. How about having a one tenth of a penny coin. Then we could pay the real exact on those gas purchases. If you ever noticed gas prices usually are something like $1.79.99/gallon
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Old 02-28-2009, 12:36 PM
 
Location: Land of 10000 Lakes +
5,554 posts, read 6,020,111 times
Reputation: 8561
Don't you know that if you find a penny, it's a lucky penny? Doesn't appy to other coins.
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