Huh?!?! It now costs 1.4 cents to make a penny!!!

[Laugh O. Grams]

I read in the NY Times this morning that it now costs more money to make a penny than the coin is actually worth...1.4 cents to be exact!! What's the deal...I know that there's been talk about it for years, but can we just get rid of them already?

 

[Sparx]

wouldn't removing the .01 from our system of money throw off the whole counting process, and make it near impossible to make exact change?

 

[Lisa loves Pooh]

I went to a restaurant that didn't do pennies.

Everything was priced so that when tax was added--it ended in 5 or 0.


But intriguing--another way to add to the deficit

 

[Laugh O. Grams]

wouldn't removing the .01 from our system of money throw off the whole counting process, and make it near impossible to make exact change?

No, all prices would just have to be divisible by 5...no big deal...

 

[Sparx]

No, all prices would just have to be divisible by 5...no big deal...

well what would we do with existing pennies?

 

[Laugh O. Grams]

But intriguing--another way to add to the deficit

Good point...I blame Bush!!

 

[Laugh O. Grams]

well what would we do with existing pennies?

The Treasury would simply take them out of circulation, like it does with old money, and collectors would probably hold onto the rest.

 

[almacdonald]

Get rid of pennies?! ARE YOU NUTS!?! What would we press when we went to WDW??

 

[Chuck S]

Or they could mint them from a less expensive metal, like aluminum or zinc.

 

[Sleepy]

While in Europe they do have 1 and 2 cent coins, they are rarely used. Everything is priced so you only have to use the 5 cent coins. I wish you could see the size of a 1 cent coin though. So tiny.

On the American military base here, we do not use pennies. The only people who have them are the ones who have just arrived from America. WHile the registers still add up in odd cents, they use a method of rounding off to the nearest 5 for the final total. The only way to make sure you don't come out on the losing end is to use your debit or credit card for purchases.

 

[momof2inPA]

A coin circulates for 25 years, so maybe it doesn't matter if it costs more than a penny to make, but I don't care if we get rid of it.