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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 03-01-2009, 09:34 PM
 
3,326 posts, read 7,755,736 times
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Quote:
Originally Posted by Silent1900 View Post
I'm really having a problem coming to grips with the fact that things like identity theft are brought up to counter an idea that could remove all drug dealers from street corners.
Take away cash, and drug dealers find other ways to get their money.
As long as drugs are illegal, people will get rich off them one way or the other. Not condoning drug use, I think it's awful, but there's got to be better ways to fight the drug problem in this country.
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Old 03-01-2009, 11:14 PM
 
88 posts, read 279,367 times
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I know that eliminating cash would not eliminate the illegal drug trade.

But it would certainly change the shape of it. Do you really think you would see crews working street corners with debit card swipers in their hand? And how much of the violence that goes with the trade is due to the large amounts of cash moving about?



I'd still like to hear any other arguments for continuing the use of cash. "I'm afraid of identity theft" just does not cut it, as i'd be willing to wager that anyone who says that already has a bank account or credit card that would already make them vulnerable to it.
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Old 03-01-2009, 11:45 PM
 
Location: DFW Texas
3,096 posts, read 6,779,377 times
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Quote:
Originally Posted by Suryoyo View Post
Well, they should round the prices to the nearest tenth or fifth, such as for example (if a t-shirt cost $9.99, they could make it to $9.95 or $9.90)

What about when you add the tax on an item?
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Old 10-12-2010, 04:40 PM
 
Location: Bradenton, Florida
27,236 posts, read 41,413,522 times
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Quote:
Originally Posted by Suryoyo View Post
Well, they should round the prices to the nearest tenth or fifth, such as for example (if a t-shirt cost $9.99, they could make it to $9.95 or $9.90)

Yeah, they round UP...which means that everything is going to cost you more, and it may seem like mere pennies, but it adds up.
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Old 10-12-2010, 05:46 PM
 
Location: Florida
4,186 posts, read 10,307,215 times
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what about sales tax. I think that's a stupid idea. Long live the penny!
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Old 10-12-2010, 08:56 PM
 
Location: St Paul, MN - NJ's Gold Coast
5,256 posts, read 11,971,236 times
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I put all my pennies, nickles, and dimes in a jar and go to a coin star every month.
You'd be surprised how useful they can be.
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Old 10-13-2010, 02:53 AM
 
Location: New Jersey
2,650 posts, read 5,164,698 times
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Quote:
Originally Posted by lammius View Post
Yep, get rid of pennies and paper $1.
lammius......................... You have just thrown the Strip Club industry into a state of disarray.
What will attractive women with little to no life skills do in an effort to sustain an above average lifestyle?
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Old 10-13-2010, 08:59 AM
 
11,179 posts, read 22,394,180 times
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The biggest red flag here is it costs more to make one penny than it's actually worth! That fact is partially helped since pennys are obviously used more than once, so their value sticks around for a long time - but they're still very marginally useful.

People don't pay for things in pennys - they hoard them up because they're virtually useless as currency, and then change them in for say $12 once every year or two. Even if they went all out and just rounded everythigng up - the price of inflation would basically render your $12 over the course of a year or two as completely inmaterial.

I've been reading that a growing problem is people melting pennys down - since you can go buy pennys and sell them for more than they're worth if you don't have to spend much energy/$ melting them down. Of course that's a small number of people doing it as the profit margin is very small - but it's still a point that can't be ignored. The USA is buying raw materials and turning them into something worth less than they cost.
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Old 10-14-2010, 08:23 AM
 
Location: roaming gnome
12,391 posts, read 24,586,165 times
Reputation: 5668
Quote:
Originally Posted by BPerone201 View Post
I put all my pennies, nickles, and dimes in a jar and go to a coin star every month.
You'd be surprised how useful they can be.
I just roll mine like twice a year. But yeah coinstar would work. I also do the same and only keep the quarters in pocket as that is the only thing I can use in laundry machines, and only thing that the parking meters will now accept.
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Old 10-14-2010, 10:22 AM
 
4,668 posts, read 6,120,416 times
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Quote:
Originally Posted by Silent1900 View Post
I realize that eliminating cash would not create a utopia, but all of the comments about how so many people are using their credit/debit cards to conduct business now anyways just goes to show that more and more cash is just being used for 'illicit' purposes. So why bother continuing to rack up the expense of printing and maintaining it?
Getting rid of cash doesn't get rid of drug dealers. It just gives them a reason to accept even more stolen jewelry and other goods. Crime would skyrocket.

Plus, I'm sure everyone on this thread could give examples of how we still use cash. I've never used my credit/debit card at a farmers market, fair, carnival, ballpark.....
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