End of the penny....

[citruscurtis]

Give a generation or so and it pretty much will be dead.

...if impoverished folks stop having children... Yuma has a massive transitional labor force that will only accept paper wages... check or cash... which in turn is sent to families living else where... these laborers live 3-5 to room.. these are the laborer who feed the world thru extreme physical labor...and it is imaginable they would choose a different occupation ...of not for the circumstances of their poverty and this not taking in account labor from Mexico ...a debit card society in Southern agriculture would lead to higher costs

 

[Mackenzie Click-Mickelson]

I believe the going thought is eventually businesses will have to change their pricing structure but TBH I have no idea how that will work out with sales tax. Yes something can be changed to be a flat dollar amount say $15 but then you add sales tax and it suddenly may be different. Pennies are still legal tender but eventually down the road (no one could say how long though) businesses will stop having as much of them to give out in change, something already that can be an issue but will get worse as eventually the amount in circulation will ebb after no new ones will be added.

FWIW whenever we go to Walmart and use self-check out (which is 99% of the time) some of their machines at the one closest to us are cash only and some are card only so they have been restricting which machines have cash and coin for at least several years probably in response to the pandemic change shortage. But the point being some machines do still take cash.

 

[goofyernmost]

It's time for cash to die.

It is already breathing its last. More and more stores are eliminating cash payments so debit cards and credit or gift cards will be the only way quite soon. Even now, as I think about it. I haven't actually seen any of my income or expenses in real money for ages. It has been just an organized series of number and decimal points flying through the air at warp speed or a piece of paper called a "check" without anything but the trust in those numbers to be able to purchase ones needs. It is amazing how much things have changed in just a few years. I guess the cryptocurrency is just another fantom form of money. All bark and no real teeth.

Man, we have way to much faith in technology, however I guess that the dollar bill is just a paper version of the electronic 01010101 and so on. Whatever works I guess, but crypto is much harder to hide under ones mattress but a whole lot lighter to carry. A large bag of silver dollars is way heavier than the equivalent value of 010101's. Back when copper and silver matched the value of the particular coin you had it was real. Paper money was and is now just a promissory bank note and the piece of paper had no value on it's own.

 

[MIChessGuy]

Stop making cents

 

[Genie+]

I’m not sad to see the penny go.

 

[citruscurtis]

Very interesting reading as a senior citizen... politics... daylight savings...water... those are hot topic issues in the southwest... but now currency.... rural life has a lot of cash under the table for labor and goods... very possible that Walmart could fold in rural areas where other SW chains have a pulse on the cash culture and not using self checkout to change behavior like our local Walmart ... the protest here is to go to the garden or auto section... long lines yes at these 2 registers.. but a protest noted

 

[RedAngie]

I’ve advocated for the extinction of pennies for cash transactions for at least 10 years now. It’s time to retire the nickel too. Round all cash purchases after taxes to the nearest dime.

 

[kdonnel]

Very interesting reading as a senior citizen... politics... daylight savings...water... those are hot topic issues in the southwest... but now currency.... rural life has a lot of cash under the table for labor and goods... very possible that Walmart could fold in rural areas where other SW chains have a pulse on the cash culture and not using self checkout to change behavior like our local Walmart ... the protest here is to go to the garden or auto section... long lines yes at these 2 registers.. but a protest noted

Society as a whole always moves forward and leaves a few behind in the process.

There will come a day where business owners who cling to cash go out of business because their business practices are too antiquated for current societal rules.

 

[RedAngie]

Stop making cents

Someone got old.

 

[barkley]

Society as a whole always moves forward and leaves a few behind in the process.

There will come a day where business owners who cling to cash go out of business because their business practices are too antiquated for current societal rules.

i'm among those who moved to an area and adapted TO the cash preferred practices of so many of the local businesses and services. if a business can keep it's operating expenses lower and pass on the savings they've netted not paying a surcharge for an electronic payment method i'm all for it.

 

[kdonnel]

if a business can keep it's operating expenses lower and pass on the savings they've netted not paying a surcharge for an electronic payment method i'm all for it.

For most business, the cost of accepting cash is greater than the cost of accepting credit cards.

 

[citruscurtis]

Society as a whole always moves forward and leaves a few behind in the process.

There will come a day where business owners who cling to cash go out of business because their business practices are too antiquated for current societal rules.

I like that phrase...antiquated for current societal rules.. I volunteer 4 hours a day for a week and half to facilitate a charity rummage sale...an organization that is antiquated because they won't pay someone to conduct online ventures

Yuma Arizona is very antiquated when it comes to business...it has a strange population base of migrant workers... transit military and a very fickle senior citizen base.... and these segments of population are supported by cash only enterprises

Walmart and Kroger are about ready to be turned upside down with their self checkout in my community as 2 highly competitive chains open...of which their is no self checkout or no cash barriers...and these two chains are very antiqued... they offer customer service, no apps and no 30 yards of coffee offerings

 

[citruscurtis]

For most business, the cost of accepting cash is greater than the cost of accepting credit cards.

I am listening and putting this out there... why do they take time to give me cash back