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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 Ham Member 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
  11. WB2WIK

    WB2WIK Premium Subscriber QRZ Page

    Our currency makes little sense.

    We are one of the few countries in the world that has paper money all the same size and color of different denominations.

    I think the U.S. Mint was just cutting corners.:eek:
  12. WN6U

    WN6U Ham Member QRZ Page

    Party pooper! :)
  13. K0SPN

    K0SPN Ham Member QRZ Page

    I say dump it and dump paper one Dollar bills too.

    Yeah, yeah, let people whinge about it all they want, it'd save a bunch of money, and with our deficit every cent we can save is a cent less we owe to someone else.

    And I heartily agree, money is the true religion of America.
  14. KC9UDX

    KC9UDX Subscriber QRZ Page

    No way! No WAY am I leaving a $5 bill on the bar every time I get a beer!
  15. K0SPN

    K0SPN Ham Member QRZ Page

    Are you just planning to save every $1 coin you get? You going to refuse to accept them?
    Seems silly to me, but whatever you like.
  16. KD7PAB

    KD7PAB Ham Member QRZ Page

    Uhhhh, that 1960 quarter is worth $5.47 as of right now. I'll give you 25 cents for it if you want to sell :)

    Nobody stops to think of why the money is losing so much value. Why is a penny "worthless" today when it wasn't 75 years ago?
  17. N5PZJ

    N5PZJ Ham Member QRZ Page

    Sorry but your 1960 Quarter is Silver and worth $4+ now!!!!
  18. N0AZZ

    N0AZZ Ham Member QRZ Page

    That sounds like something coming from the left side of the isle, to in a sense (Raise Taxes) without calling it that. But that is exactly what it would accomplish a revenue enhancement for everyone except for taxpayers and those who purchase good and services.

    IT IS WHAT IT IS !!!
  19. NZ2N

    NZ2N Ham Member QRZ Page

    I'm in favor of keeping the penny because I know that NOTHING will EVER be rounded down. Does anyone really seriously think any cheapskate business is going to round down? It will NEVER happen. And if something is worth 27 cents, why should I pay 30 anyway? Screw that.

    It is dumb, however, to spend more than a penny to make a penny, only the government could screw that up. Until that is fixed, we should have a penny drive to encourage penny hoarders to cash in their change jars. That might take some of of the pressure off for a while.
  20. G0GQK

    G0GQK Ham Member QRZ Page

    Someone wrote you currency makes little sense, like 100 cents = $1. What's not sensible about that ? So, you eradicate the 1 cent coin, do you have a 2 cent coin ? So all the 99 cent stores will have to be 98 cent stores or dollar stores. Which do you think they'll choose ? Good thinking Batman ! Now we know why the US has a debt of $15.2 trillion dollars
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