There's been talk about getting rid of the penny from American currency and rounding off to the nearest nickle when giving change. How do you feel about it?
2006-07-16 07:28:51 · 12 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
The zinc they make pennies out of are actually 50% more costly than what pennies are worth. About the abandoned pennies, though, they are also thinking of having machines that will turn your pennies into cash for free just to collect them all and then get rid of them.
2006-07-16 07:35:05 · update #1
The penny has outlived its usefulness. The post-1982 penny costs more than one cent to make. Also, the nickel costs more than five cents to make. Answer? Eliminate the penny and make five cent pieces out of zinc, clad with nickel or copper. Until then, the U.S. mint is wasting money.
2006-07-16 07:44:14 · answer #1 · answered by senior citizen 5 · 1⤊ 1⤋
It would cause a big jump in the cost of living getting rid of the penny. I have always heard of raising taxes but you will rarely hear of anyone lowering them. All the places with 7% tax will increase to 10%. Gas prices will have to go up to accomidate the lack of the one cent increments. The increased tax will have to be passed on to customers.
We need to keep the penny. The fact that we have to do our measurements in 100ths is one reason our economy is somewhat stable.
2006-07-16 14:40:02 · answer #2 · answered by JFra472449 6 · 0⤊ 0⤋
Yea, I'm still undecided on this issue. I don't know whether or not I want to eliminate all the loose change, because those little pennies add up and actually turn out to be something of value.
2006-07-16 14:32:04 · answer #3 · answered by TheAnomaly 4 · 0⤊ 0⤋
If they did do that, it would be alot of pennies needing to be accumulated to get rid of from the people. It would be like years (if they did do this) to get rid of pennies, cause you''ll be like finding pennies all over your house within 20 years and know their worthless.
2006-07-16 14:32:57 · answer #4 · answered by See ya later aligator 4 · 0⤊ 0⤋
Why not just make it 20 cents to the dollar and make nickels the new penny?
2006-07-16 15:31:18 · answer #5 · answered by JOe s 1 · 0⤊ 0⤋
I don't like it. If there are too many pennies, just stop making them for a while.
2006-07-16 14:36:22 · answer #6 · answered by trinitytough 5 · 0⤊ 0⤋
great the penny pisses me off because i get 2 many ofe them but on ther other thand every thing will be a little more expensive but over all i thing its a good idea
2006-07-16 14:36:50 · answer #7 · answered by toast4_3 3 · 0⤊ 0⤋
i think it will be nice to have rounded out numbers. because that will change how things are priced eventually. i mean come on, wouldn't be great to walk into a store and never see a weird price like $3.37
2006-07-16 14:37:24 · answer #8 · answered by tropiccountrygirl 4 · 0⤊ 0⤋
hmmm.... that can add up to quite a large chunk of change with over 300 million in this country. I don't care for it.
2006-07-16 14:30:54 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I think they should spend more time trying to increse the value rather than how to get rid of it.
2006-07-16 14:39:29 · answer #10 · answered by Jose R 6 · 0⤊ 0⤋