do you think the penny should be phased out of circulation?

Answer 1

yes, change is a pain.

Answer 2

No, that's so ignorant...It's already a well known currency...There's no reason to phase it out...I wouldn't like to have to spend more just because I don't have any currency that's not worth 1 cent. Who thought of this anyway? If anything, two dollar bills should be phased back into circulation every year because if I just have one five dollar bill and I want to make ten dollars, I have to pull out 5 five dollar bills and that's such a pain...It's way easier to make change and trade currency if we have two dollar bills...Besides, if we phased out the penny, there would be so many changes in prices and so much more work for so many people just because of that one penny...It's easy to distinguish and I like that...and the nickel is 4 cents more than the penny...What if there was something that cost 51 cents and they didn't want to make it 50 cents, so they changed the price to 55 cents...Every penny counts.

Answer 3

I agree with another answer. All money should be phased out for pure cards only. Every paycheck, every payment, everything should be able to transfer funds through cards. But if the penny was to be phased out, inflation would not happen as some so plainly put it. It does not round up to the next nickel, what it does is it rounds to the NEAREST nickel. So in some cases it would be cheaper. There would be no 'real' reconfiguration at all. A computer can easily round on its own. If the total price was 1.16-1.17, it woudl round down to 1.15. If the price was 1.18-1.19 then it would round up. So in my opinon there is not any reason why pennies shouldn't be phased out, except for it helps the economy and charities. Charities collect pennies, and they add up. It helps the economy because it just sits there in people's houses gathering dust. (what they should do is change what pennies are made out of. We don't care what they are made out of, they are just symbols of money right?)

Answer 4

Possibly, I guess I have mixed feelings on this one. I would not want every thing to go to nearest nickel (by the way just read yesterday it cost more to make a nickel than five cents due to high nickel and copper metal value) how about stopping the penny and making a two cent coin. I'm in favor of a one dollar coin and getting rid of the paper, since it will save the government a lot of money. A coin last 30 years and dollar bill 18 months. Plus I would like a two dollar coin like Canada and European countries already have.

Answer 5

We may not be too far from all currency being phased out of circulation. Debit and credit cards are simply far more convenient. Once everyone has them and accepts them, all cash will be irrelevant.

Answer 6

I think all coins and paper bills should be phased out and we should just use Cards...but baby steps, I do think pennies should be phased out

Answer 7

no i dont, i like my pennies and i use them all the time
that just wouldnt make since, so instead of something being
2.01 you would have to round up to 2.05 because you know they
arent going to round down to 2.00 so thats an extra 4 cents right there. that really adds up

Answer 8

well, I don't but in many ways they should...no one wants to count by 1cent and they are becoming useless...though, sometimes to get or give exact change you need the penny...and I personally like to find a shiny penny heads up on the ground. :D so, no.

Answer 9

Unfortunately, I think we're stuck with them because if you think about things in terms of percentages, particularly sales tax, it would be necessary to round something to nearest cent. If we start with nickels as our base, you would have to round by 5's and that adds up and isn't very accurate.

Answer 10

There has been talks in the uk to get rid of the 1 pence because it is costing more to make them than they are actually worth.

Answer 11

It would take more work than it's worth. All prices and everything would have to be refigured. You'd end up paying more because they would round up to the nearest $.05.