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Canada doing away with the penny, US should follow suit...

Discussion in 'ex-Rag Chew Central' started by KT4LF, May 4, 2012.

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  1. KT4LF

    KT4LF Ham Member QRZ Page

  2. KB4QAA

    KB4QAA XML Subscriber QRZ Page

    "Have a nickel, leave a nickle. Need a nickel, take a nickel".
     
  3. WB2WIK

    WB2WIK Premium Subscriber QRZ Page

    We should have blank coins all made from aluminum and cut different sizes so they can change value with inflation.

    It's not fair that a quarter I put away in 1960 is still only worth a quarter, when back then it might have represented 15 minutes of labor and today it represents about ten seconds' worth.:p
     
  4. WB2WIK

    WB2WIK Premium Subscriber QRZ Page

    Or as Uncle Sam would say: "Have $1000? I'll take it, thanks."
     
  5. KA5ROW

    KA5ROW Premium Subscriber QRZ Page

    No No No Hell No: that would mean every time the price went up it must do it a 5 cents at a time.

    What about taxes Think People. We have 9 cents on the dollar it would automatically go to 10 cents. If a tax increase was needed they would have no choice but to go to 15 cents. Every thing would go up that was $X.95 by a nickel. 5 cents on every thing you buy, go to wal-mart buy 35 items on your grocery list that's 35 nickels. That is $1.75 for those in Rio-Linda as Rush would say. In a years time that would some real money.
     
  6. KT1F

    KT1F Ham Member QRZ Page

    I quite agree. We had this debate here a few months ago. To those who object, I say come back in a year or two and we'll see if Canada has survived. Smallest coin in New Zealand these days is 10 cents. I think Australia still has a 5 cent.
     
  7. KT1F

    KT1F Ham Member QRZ Page

    No. The total gets rounded. At the most, the rounding will increase or decrease the total by 2 cents no matter how much you buy.
     
  8. WA4OTD

    WA4OTD XML Subscriber QRZ Page

    I would get rid of penny and nickel.
     
  9. WA8FOZ

    WA8FOZ Premium Subscriber QRZ Page

    A good idea, but not likely to happen. Consider the great resistance to dollar coins in this country. Our real religion in this country, I think, is money, and people have attachment to it beyond logic.
     
  10. K9STH

    K9STH Ham Member QRZ Page

    It is not possible for the United States to abandon the "penny"! There is no such coin minted for use in the United States now and there never has been such a coin minted. The lowest value coin now minted is the United States One Cent Piece! Many years ago, there was the half-cent but that coin has been abandoned for well over a century and a half.

    To make a valid argument, and discussion, on eliminating the lowest value coin, one must use the correct terminology!

    Glen, K9STH
     
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