Should the US get rid of the penny?

Give me all of your pennies!

 

It literally costs more than they're worth. And I hate having basically useless change.

 

Of course. The penny costs more to make than it's worth. Making cents doesn't make any sense!

 

Why not, Canada did it.

 

I'd almost be inclined to get rid of everything beneath a quarter.

Plus if we got rid of the penny, we'd remove temptation from those considering using one to (unsafely) replace a fuse! (For those who don't get this reference, old electrical wiring may use fuses instead of circuit breakers. Some people would replace a blown fuse using a penny. Terribly unsafe since the penny won't "blow" like a fuse does if there is too much current.)

 

Never! They're the cheapest washers and shims in the market. You can get one hundred for a dollar I hear!

 

I actually save all pre-1982 pennies I get because they're 95% copper so if the world goes to hell, I can melt them to make cartridges.

I kid :lol:.

I'm all for getting rid of the penny.

 

No! Not Lincoln!

 

I love Lincoln and the penny is cool, but it's gotten to the point where we can't afford to produce it, nor should we waste the copper if we have better ways to use it.

 

I'm almost positive I heard that Canada had done it once before a while back and it didn't work out...We seem to be doing ok now though, so I would say go for it.

 

Let's just keep the penny and shell out more money that we don't have and force us into a bigger pile of debt and then we can have a debt party where we flaunt the money we don't have :lol:

 

Yes we did! And it's so much better this way!

 

The biggest problem it would pose is in the collection of sales tax. Here, the rate is 6%; I hear that in Texas, there's a state and often a city or county sales tax. It could some problems with cash transactions. I say keep it around, mainly because I'm one of those people who buy most things with cash, and don't care for credit/debit cards very much.

 

If you round to the nearest nickel, you'll lose some and gain some and it should, in the end , be a wash.

My city in Texas used to have a combined sales tax rate of 8.125% (but was raised to the max allowed of 8.25%).

 

There's more copper in dimes than pennies, and Lincoln's also on the $5 bill so it's not like he would be kicked out of the currency anyway.

3 quarters, 2 dimes, 1 nickel, and 4 pennies. If you want to be able to make change for anything that's what you have to carry around. Discontinuing the penny would remove 40% of the coins necessary.

 

Actually, I'd like to get rid of paper money, and move to a system of all coins, because that would seem a lot more fun. People could carry their money around in bags and pouches, like the middle ages, and it'd be cool to count out out piles when you bought stuff.

Plus, it would last a lot longer than paper, and thus save the government a ton of money, not always having to replace worn out currency.

 

It's been so nice having them weeded out here in Canada. Like, SO nice.

 

If the government has penciled that it's more expensive to keep it, then get rid of it. I wonder how they'll make change or assess sales tax at 7.25% on an already odd purchase number.

However, I'm cool with the penny while it's here. I put them in a little plastic jug and periodically deposit them.

 

We still use pennies as well (one pence being 1/100th of a pound), but they really are effectively useless. I don't think there are any negative impacts though, so it isn't a pressing issue for most people and I doubt it is for the government either - they seem more concerned with switching from paper notes to plastic notes.