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Old 02-09-2007, 12:51 PM  
Amnorix Amnorix is offline
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Eliminate the Penny, and Nickel, and heck, even Dimes!!

I'm with TMQ on this.

Eliminate the Dime!

Every now and then someone launches a crusade against the penny, which clogs America's pockets, purses and cash-register drawers. One cent is a unit of currency so small as to be meaningless; the sole role of the penny is to cause needlessly complex prices such as $19.82. That shopkeepers leave bowls of pennies by checkout lines reveals the stark truth that the modern penny is of no value. The absurdity of the existence of the penny got worse in 2006, when rising copper prices meant the United States Mint spent 1.4 cents for every penny it produced. Since the Mint made nine billion pennies last year, United States taxpayers lost $36 million on penny production. Not only are pennies an annoying inconvenience they are a net financial loser whose existence costs you money!

Tuesday Morning Quarterback would go further and eliminate not just the penny but the nickel and dime. The quarter is the smallest unit of currency that has significance in modern commerce. In inflation-adjusted terms, today's dime has about the same value as a penny in 1920 and back then there were already people crusading to eliminate the penny! Pricing all goods in increments no smaller than 25 cents would simplify transactions and eliminate the need for Americans to carry coins that are, for all intent and purpose, worthless. Abolishing the penny, nickel and dime would eliminate the need for businesses and banks to process large amounts of coins with little net value. Eliminating this transaction cost would allow consumer prices to decline slightly, thus increasing national prosperity. Eliminate the nickel and dime! (Yes, sales-tax simplification would also be required.)

As part of my crusade, I no longer provide exact payment for utility bills or similar invoices that come to ridiculously specific amounts such as $206.84. I round up, and pay $207. This takes less time to write on the check, and makes me feel like a Rockefeller, since I am tipping a major corporation. Probably it forces a clerk on the other end to input that I have paid $207 instead of $206.84. For the labor time it takes her to enter these numbers, she will be paid a nickel.

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Old 02-09-2007, 12:56 PM   #2
jjjayb jjjayb is online now
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Not a bad idea. I lived in Panama for a few years. Everything there was to the nickel. They had no pennies.
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Old 02-09-2007, 01:05 PM   #3
Redrum_69 Redrum_69 is offline
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If we did that then how the hell would the homeless pay crazycoffee's mom for bjs
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Old 02-09-2007, 01:25 PM   #4
Fish Fish is offline
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How would this affect gas stations? Could they still charge $2.099?
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Old 02-09-2007, 01:31 PM   #5
greg63 greg63 is offline
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Quote:
Originally Posted by Amnorix
Eliminate the Penny, and Nickel, and heck, even Dimes!!
...Quarters, 1/2 Dollars, Dollars, Heck, all currency.
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Old 02-09-2007, 01:31 PM   #6
Bugeater Bugeater is offline
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I'm still waiting for the $.99 coin.
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Old 02-09-2007, 01:39 PM   #7
J Diddy J Diddy is offline
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Quote:
Originally Posted by Bugeater
I'm still waiting for the $.99 coin.

just think how hand a $19.99 bill would be for ordering from infomercials
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Old 02-09-2007, 01:57 PM   #8
ck_IN ck_IN is offline
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I'm ok with killing the penny but not the nickle. If the price is $1.97 I'm ok with giving them $2 but if it's $1.83 I want my change.
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Old 02-09-2007, 01:58 PM   #9
El Jefe El Jefe is offline
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Funny one redrum_69 lol.
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Old 02-09-2007, 02:20 PM   #10
Amnorix Amnorix is offline
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Quote:
Originally Posted by ck_IN
I'm ok with killing the penny but not the nickle. If the price is $1.97 I'm ok with giving them $2 but if it's $1.83 I want my change.
They should round that one DOWN to $1.75.

Kerry
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Old 02-09-2007, 02:22 PM   #11
seclark seclark is offline
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i need my pennies so i can tip bitchy waitresses.
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Old 02-09-2007, 03:31 PM   #12
Ari Chi3fs Ari Chi3fs is offline
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Economics is like well important, yeah?

So like like instead of a 5 dollar bill or a 10 dollar bill.

Wouldn't it be betta if like you had a

5 dollar 44 cent bill 42 dollar 11 cent bill?



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Old 02-09-2007, 03:49 PM   #13
MichaelH MichaelH is offline
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Heck, why not go a step further and eliminate money all together. Pay with a debit card or any other device linked to an account. Of course this would mean some establishments would be forced to join the 21st century.
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Old 02-09-2007, 04:05 PM   #14
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Quote:
Originally Posted by ck_IN
I'm ok with killing the penny but not the nickle. If the price is $1.97 I'm ok with giving them $2 but if it's $1.83 I want my change.
Actually, I am good with the penny and the nickel going away. Considering we already pay over 7% for sales tax that makes the nickel worthless too. Keep the dime though.
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Old 02-09-2007, 04:05 PM   #15
morphius morphius is offline
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How are young guys going to learn how to have sex if they don't have two dimes and a quarter to go along with the dollar?

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