Do you think we should get rid of the Penny???

Answer 1

No. The penny is solid. I've grown fond of it.

What will be thrown in fountains for wishes?

Nickels? ;o

Answer 2

Yes. Apparently it's costing us more money to make it than it's worth. Here are some points worth considering:

A penny represents a net cost to the government.
Pennies take time to count.
Pennies don’t work in most vending machines.
A penny won’t buy anything.
U.S. military bases overseas don’t use pennies.
We will eventually have to eliminate the penny, anyway.
We (and other countries) did it before, and we can do it again.
The zinc industry lobbies for keeping the penny in production.
Pennies make your hands smell.
We need to make room in cash register trays for the dollar coin.

ON THE OTHER HAND:

Most people don’t want to abolish the penny. It’s part of our history and culture.
The “rounding tax” of retailers not accepting pennies or giving them in change will cost Americans $600 million annually.
The U.S. Treasury gets millions of dollars every year from seigniorage, which can help pay for government costs or reduce the national debt.
Abolishing the penny would force the U.S. Mint to produce more nickels—“special-interest lobbying at its worst.”
We would lose Lincoln’s likeness on the coin.
If I have a jar of pennies, it will become useless.
Charities rely on pennies for much of their funding.
Removing the penny from circulation will cost the Mint money to melt them down, result in negative seigniorage, and would cost the Mint and related businesses jobs.
Europe still uses the Euro cent coin.
If we abolish the penny, where will it end? Shouldn’t we also abolish the nickel and use only one decimal place for currency figures and calculations?
Changing cash registers and computer software to round to the nickel will cost money.

Go here for more info:
http://users.cableaz.com/~dhofmann/abolishthepenny/

Answer 3

Yes. They are a drain on economy. They cost 1.6 cents to produce, yet they are only worth 1 cent. They make about a half a billion pennies a year. Therefore, the government LOSES 3 million dollars a year producing the penny.

Answer 4

Yes, it costs roughly 1.6 cents to make a penny.
And who pays for the extra .6? Of course we do.

I say either round the prices up to the nearest nickel and get rid of the penny, or use a cheaper metal.

Answer 5

No b/c a penny saved is a penny earned. We'd also get tired of the nickels eventually and try to get rid of them too.

Answer 6

Yes. use the metal for more productive purposes like faster computers or something. if i walk in to the store and they said that that i owe 10.96 then i would just give them 11.00. you will never need to worry. the extra money that they get and keep will help slow down the interest rates that they will want to impose.

Answer 7

NOOO
cuz then, for example, when gas goes up.. instead of just going up 1 or 2 cents ....it'll be rounded up.. to the nearest dividend of 5 cents.... (and although you may not realize it... those few cents add up, especially when you have to travel to get to work or school)

Answer 8

The only thing i think should be done with any coins or currency these days is give us MORE of it in our wages so we can at least make some kind of decent living.

Answer 9

Then there couldn't be anything priced at whatever dollars and ninety nine cents to make it seem cheaper!

Answer 10

It doesn't really have much of a significance anymore.