[JB in TV]

I don't like pennies, and know that it costs the US mint more than the value (1 cent) to manufacture the penny. What do you folks think?

[LI SNOWBIRD]

Originally Posted by jb in tv

i don't like pennies, and know that it costs the us mint more than the value (1 cent) to manufacture the penny. What do you folks think?

yes

[renrod]

Originally Posted by JB in TV

I don't like pennies, and know that it costs the US mint more than the value (1 cent) to manufacture the penny. What do you folks think?

The penny is a perfect example of how dysfunctional the Government is. It costs .016 to manufacture the penny. Congress should do something productive, and have them made of plastic. NOT in favor of elimination.

[Taltarzac725]

The Economist explains: Why has Canada killed off the penny? | The Economist

I agree though with renrod that they should make the penny out of a cheaper material. http://www.huffingtonpost.com/2012/1...n_2338127.html

[JB in TV]

Originally Posted by renrod

The penny is a perfect example of how dysfunctional the Government is. It costs .016 to manufacture the penny. Congress should do something productive, and have them made of plastic. NOT in favor of elimination.

Why are you not in favor of eliminating the penny? Any purchase can be rounded up or down, and the net to the business or customer would be neutral over time.

In the article linked by Taltarzac725, it states that it costs the US 2.4 cents to produce a penny.

[JB in TV]

Would making it plastic reduce its life span?

[under55]

What if we did away with all cash? I know we would still have credit card fraud and cyber crimes. But look at the other crime that would probably almost vanish.

[baustgen]

Get rid of the penny and the paper dollar bill. Replace both with a small silver dollar coin the same size. Lots of problems solved.

[JourneyOfLife]

Since we are increasingly buying and selling electronically (debit card, credit card, etc)... it would not yield the benefit you think it would.

[KayakerNC]

I think it will happen. The only question is "When?".

[DougB]

If they eliminated the penny, how would we all be able to throw our two cents into this thread? I don't have any thoughts worth a nickel.

[ijusluvit]

Originally Posted by DougB

If they eliminated the penny, how would we all be able to throw our two cents into this thread? I don't have any thoughts worth a nickel.

You could keep sharing your thoughts. Just think how good you will feel when somebody finally thinks one is good enough to round up to a nickel.

[Bavarian]

How about making smaller pennies like Euro Cent.

[jebartle]

when value of penny is less than it cost to make, absolutely no need for penny any more!

[JourneyOfLife]

People think about this issues on a personal basis... the change they get or an item they buy. That is too narrow.

Certain types of products and services use pennies and even factions of them as a denomination for a certain amount of product... on a large basis.

It is buried in every system (electronic or otherwise) that deals with money around the world.

If the government did decide to stop minting pennies, it would still exist electronically.

It will be around longer than any of us (boomers).