Current Events > Can we discontinue the penny already

(+) Yeah! (+)

And just have prices in multiples of 5 cents instead of one
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the penni

No.
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Not penny's boat
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But what about all the pennies already in circulation
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This is one of the many reasons Canada is far better than your crappy country. We got rid of that shit years ago

just another thing for Millennials to kill
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littlebro07 posted...

But what about all the pennies already in circulation

We trade them in for other coins?
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littlebro07 posted...

But what about all the pennies already in circulation

Slowly take them out of circulation like we did the half cent long ago.
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Darklit_Minuet posted...

This is one of the many reasons Canada is far better than your crappy country. We got rid of that shit years ago

Reassurance post. Lmao
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HylianFox posted...

just another thing for Millennials to kill

lmao
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Banks and stores still accept them as legal tender but they just don't distribute it out anymore.

We got rid of the penny like 5 years ago and it didn't make a damn bit of difference. Non cash transactions are still to the cent but cash transactions arerounded up or down to the nearest 5 cents. It works as a wash.
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NES4EVER posted...

Banks and stores still accept them as legal tender but they just don't distribute it out anymore.

We got rid of the penny like 5 years ago and it didn't make a damn bit of difference. Non cash transactions are still to the cent but cash transactions arerounded up or down to the nearest 5 cents. It works as a wash.

But do you still produce them anymore?

Every penny produced is produced at a loss. That's the problem. I'm sure there'll be a period where they will still be accepted, it's a slow process. But as stores and banks take them in but quit giving them out, they'll slowly work themselves out of circulation. I'm not asking for an overnight change.
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WaterLink posted...

NES4EVER posted...

Banks and stores still accept them as legal tender but they just don't distribute it out anymore.

We got rid of the penny like 5 years ago and it didn't make a damn bit of difference. Non cash transactions are still to the cent but cash transactions arerounded up or down to the nearest 5 cents. It works as a wash.

But do you still produce them anymore?

Every penny produced is produced at a loss. That's the problem. I'm sure there'll be a period where they will still be accepted, it's a slow process. But as stores and banks take them in but quit giving them out, they'll slowly work themselves out of circulation. I'm not asking for an overnight change.

I don't think we still produce them. Maybe for like special coin sets but I have no idea. The only pennies left in my house were ones I received years ago as change or American pennies
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So it's basically a wash on the consumption side like you said. But better for the production side. Overall a positive change
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Er, we already did that years ago
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Hey if I hoard 100 of these things I can almost buy a pack of juicy fruit gum.

Inflation has rendered these things essentially worthless and we lose money every time we print one. We used to have half-cent coins and got rid of them when there was no need for them anymore. It's beyond time to ditch these damn things and stop wasting money printing more of them. Like am I going crazy? What is a legit argument for keeping these damn things?

/rage
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Here in Canada we gave up the penny years ago.

Yaridovich posted...

Not penny's boat

Marked for spoilers
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CirocObama posted...

Having just got back from the US, more than just the penny needs to be changed with your currency.

1) it stinks, the money actually smells terrible. Every time i opened my wallet, it smelled terrible. Make the money outta that plastic stuff we use.

2) change the fucking colours. I'd have to sit there and go through my all these bills because i couldn't tell which was which when they were folded. Which brings to me too

3) get rid of $1 bills. Like wtf man, by the end of the day i had a stack of 30 bills worth $34 bucks.

Ya, I guess get rid of the penny too.

The one dollar bills are annoying , but it makes more sense at a strip club. Do you know how much it sucks to give a stripper like $5 or $10 at a time??
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CirocObama posted...

2) change the fucking colours. I'd have to sit there and go through my all these bills because i couldn't tell which was which when they were folded. Which brings to me too

Idk how long ago you visited here, but newer printed bills do actually have different colors.

https://upload.wikimedia.org/wikipedia/commons/thumb/6/64/USDnotes.png/1024px-USDnotes.png
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