The US is thinking about not using the penny anymore. Does anybody think this is a good idea? Why? A bad idea?
2006-07-01 03:41:31 · 30 answers · asked by Krystin S 1 in News & Events ➔ Current Events
We need the penny. Although it cost 1.2¢ it is only worth .008¢ less then a penny.
What we need to do is change its composition to aluminum or plastic.
2006-07-06 18:04:57 · answer #1 · answered by Man 6 · 1⤊ 1⤋
I think it's a bad idea. It means that since everything will be rounded up or down, people will lose and save money. I would rather recieve pennies and recieve exact change than get rid of pennies alltogether. If we get rid of pennies, we should get rid of the coin system and use all paper currency, like Vietnam.
2006-07-01 03:50:18 · answer #2 · answered by cutiedudie2002 4 · 0⤊ 0⤋
This comes up once every 5-6 years and it dies off quicky. There are some legislative measures that must be taken and the penny has sentimental value to some states like Lincolns birth state, economic factors in states where they are minted and those where the materials are mined.
I thought it made sense to get rid of them in the past but if you dig deep enough some time you will see why it will never pass this stage of discussion.
2006-07-07 17:17:09 · answer #3 · answered by SNCK 3 · 0⤊ 0⤋
Absolutely not! We should find a cheaper way to make them or simply increase the penny's official value to the cost of producing them. I wouldn't mind if pennies were worth 1.2 cents. That's a lot better than prices and taxes all being rounded up to the next nickel!
Besides, currency is becoming obsolete with the takeover of plastic and online purchases. Check cards are even replacing written checks.
2006-07-07 16:14:19 · answer #4 · answered by My Opinion 1 · 0⤊ 0⤋
YES! I have been stationed overseas for the last two years. The US govt (or whoever makes that call) does not ship the penny overseas for use on base. When you get change back from the cashier, they just round up or down so the smallest change you get back is the nickel. The penny is just a pointless monetary unit. I don't miss it at all. It is time to retire it.
2006-07-07 23:50:18 · answer #5 · answered by Tricia W 2 · 0⤊ 0⤋
The problem with the penny is the cost. I believe it costs .03 to make .01.
On the other end, it would take some serious software changes throughout the entire retail system to make that work. Guess who pays for that?
In the future we will be using optical and print recognition for all purchases, no money or credit cards required, but for now we are labored with the penny problem.
2006-07-01 03:50:24 · answer #6 · answered by Nick R 3 · 0⤊ 0⤋
1.These days when they make a penny is cost more make then what it's worth. Copper is going up in value. So our government is losing profits from making pennies, and the Nickle is in the same situation. The government coinage factories isn't losing profits from the rest of our currencies (yet).
2. With the high price economy, and Internet transaction, and using the penny more scarce ways of is usage.
2006-07-01 05:16:50 · answer #7 · answered by ruggedwarrior_love 2 · 0⤊ 0⤋
No, the penny's worth just jumped, like, 1/10 of a cent. Think of the worth in 200 years.
2006-07-01 04:02:57 · answer #8 · answered by cowgirl91 3 · 0⤊ 0⤋
No we need the penny ,we have had it for this long why do we need to get rid of the penny.
2006-07-01 03:50:27 · answer #9 · answered by Anonymous · 0⤊ 0⤋
No, I don't think it's a good idea. The penny is the only copper-colored coin, and its distinctiveness is a nice part of U.S. coinage. Plus, it would be strange for the lowest denomination of our currency to be out of usage; what would that say about the validity of the dollar?
2006-07-01 03:49:47 · answer #10 · answered by nilupare 1 · 0⤊ 0⤋
We need pennies. Even though they are small they can be useful in giving the exact change when you shop. I can't believe our government is worrying about PENNIES when there is bigger problems in the world.
2006-07-01 03:45:52 · answer #11 · answered by songbird 6 · 0⤊ 0⤋