Penny Unwise

[jackfengshui]

Canada has just decided not to produce any more pennies. They are not banning them - just letting them run short and forcing people to round off to the nearest nickel in cash transactions.

It costs 2.4 cents to make a penny in the U.S. It's about time we get rid of it too.

[offshoredrilling]

but we loose more with the nickel. 11.18 cents to make a nickel.

Obama asked the mint to look for ways to make both cheaper. Fuck dam you jack. You found something where I agree with OBAMA DAM DAM DAM. Well as long as it is not to outsource where made.

[Tiger]

We could just use the penny equivalent from other countries- then we don't have to pay to make any of them.

Penny

It's hard to get rid of the penny until you get rid of a lot of the silly taxes that make prices come out to odd cents. Maybe somebody can really explain why we still have a 9/10 cent at the gas pump.

[jackfengshui]

Originally Posted by offshoredrilling

but we loose more with the nickel. 11.18 cents to make a nickel.

That means the penny and the nickel are equal losers, each costing about 230% of its face value to mint.

[offshoredrilling]

well I do like the idea of can we on US soil make them cheaper. strange the report is do dec 2012. But if not, other country's have also dropped the nickle. So that the dime is the starting point. But we still have the problem of the dollar bill. Where a coin would be cheaper as it last longer. But know one seems to want them. other than a keepsake.

[jackfengshui]

Originally Posted by offshoredrilling

But we still have the problem of the dollar bill.

Don't get me going on that. No other industrialized society still stubbornly hangs on to such a small bill as the US Dollar.

The smallest denomination paper money in various countries are:
Canada, 5 Canadian Dollars = US$5
Europe, 5 Euro = US$7
Japan, 1000 Yen = US$12
U.K., 5 Pounds = US$8

[offshoredrilling]

FACT: Prostitution helped kill the $2 bill. In the early 1900s, when the government was still trying to push the $2 bill (aka the American Toonie), the going rate for a prostitute was, coincidentally enough, $2 a night.
from
http://www.11points.com/Dating-Sex/1...ion_in_America

maybe we need a $100 and $200 coins

but it would be a bitch to buy bread

[Doove]

Originally Posted by offshoredrilling

but we loose more with the nickel. 11.18 cents to make a nickel.

Then how about we stop making the nickel, and just use the penny for a nickel? Problem solved!

[HlavinKitheri]

Smallest unit of US currency should be the "bit," 12.5 cents. Round all transactions to the nearest bit. And of course the dollar ought to be a coin, not a bill. What a waste of money that is.

[HlavinKitheri]

But let's maintain the tradition of putting women's faces on the dollar, like the old Susan B. Anthony one, Sacagaweah, and of course Barbara Bush.