When will this take affect?... <~~~
Does that make any sense (the question above)? There's an arrow pointing at it.
2006-09-06 20:14:24 · 8 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
it will never hapen in your lifetime, or your kids, or their kid's ect.
2006-09-06 20:16:08 · answer #1 · answered by qqqq 3 · 0⤊ 2⤋
they are not getting rid of pennies anytime soon, although they have been switching the material pennies are made of for decades to reduce their cost/
Eventually like most currencies the lowest coins get removed due to inflation and while pennies will be around for bank, and other financial purposes (stock trading, interest payments), so only cash transactions will be affected not creating a huge impact.
Dollar bills might be going away as paper currencies have a short lifespan 18 month and coin live over 20 years before they have to be removed due to wear. If dollar bills get removed, nothing will change except our pockets will be heavier with golden dollar coins.
I don't know about most of you, i stopped carrying cash years ago. I carry $20 for a newspapper or a stick of gum, possibly a soda but i use credit to pay for everything and just pay it at the end of the month.
2006-09-07 03:29:09 · answer #2 · answered by ken 3 · 0⤊ 0⤋
I heard pennies and dollar bills! Pennies are really useless anyway! They amount to absolutely nothing no matter how much you save and how many years. So I imagine they are going to have to round everything off to the five cent mark huh? You cant have single numbers any longer if we cant make change for it then. It ought to be interesting. To me its just a ploy to raise the damn interest rates again anyway! It will cause everything to go up to the nearest dollar. What effect will that have on the economy? Think about it!
2006-09-07 03:22:57 · answer #3 · answered by soniaatcalifornia 5 · 0⤊ 0⤋
No, I've seen newly minted pennies this year. If they are phasing them out, they haven't started yet. I have heard of plans to phase out paper money though. But I haven't seen anything official on that either. I don't doubt that someday, all money will be on credit cards or cash cards or something similar, maybe not in our lifetime though.
2006-09-07 03:21:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋
In australia I was most surprised when I moved here as there is no 1 cent or 2 cent coins.
The one and two-cent coins were discontinued in 1990-91 and withdrawn from circulation
2006-09-07 03:19:46 · answer #5 · answered by Anonymous · 0⤊ 0⤋
There have been tons of bills before the current one, and they never passed. So I doubt this one will.
2006-09-07 03:20:30 · answer #6 · answered by Super Kevin 2 · 0⤊ 0⤋
im answering your question cuz you asked something about "how do you make dry ice" and i just typed it in cuz i always wanted to know! so thanks to your question now i know........i know i cant do it! and to answer this question....that would suck if they got rid of pennies here.....but then again who really uses them...as for me i just throw them away
2006-09-10 03:21:51 · answer #7 · answered by Heat seeking missile 6 · 0⤊ 0⤋
dunno, i heard they are---costs more than 1 cent to make each
2006-09-07 03:15:41 · answer #8 · answered by melissa r 4 · 1⤊ 0⤋