The cost went up 44.5% in 2005 because of increases in the cost of metal, manufacturing and transportation costs.
Per "Bottom Line - Personal".
2006-12-03 10:15:18 · 8 answers · asked by COOKIE 5 in Politics & Government ➔ Other - Politics & Government
Not a good move. Banning the penny would indicate to the rest of the world that the dollar has lost value. This will impact trade and Foreign exchange in a negative way. They should keep the penny. Ask any financial expert, they will tell you that any changes to the US currency would be bad for the economy/international trade, i.e changing the color of the dollar, changing or adding higher denominations and banning the penny and other smaller denominations.
2006-12-03 10:24:28 · answer #1 · answered by Haveitlookedat 5 · 1⤊ 2⤋
But how would we give people our two cents? "Nobody asked for your nickel" just doesn't roll off the tongue. But in all honesty, the penny serves no real purpose, so getting rid of it may not hurt anyone. However, it would make tax, pricing, all of that quite difficult, as all change would have to be gaged in multiples of 5.
2006-12-03 19:17:10 · answer #2 · answered by Huey Freeman 5 · 0⤊ 1⤋
I agree... Ban the penny. It doesn't serve a real purpose anyhow. Besides, keeping dollar per cents to a multiple of five will make it easier on those people who don't do very well with math. :p
2006-12-03 18:18:33 · answer #3 · answered by Firestorm 6 · 1⤊ 2⤋
Pennies are only good for drilling out to use as copper washers.
Yes, lets get rid of these and the one dollar bill. Both are a waste of time, space, and materials.
2006-12-03 18:24:53 · answer #4 · answered by Lonnie P 7 · 0⤊ 1⤋
Yes! I never use them. My purse is usually heavier than me, all from pennies! Once I tried saving them for a couple months, and I got about five bucks.
2006-12-03 19:12:01 · answer #5 · answered by Yalerower 2 · 0⤊ 1⤋
It'd be fine with me. And while we're at it, could we get a $1 or $2 coin that's actually bigger than a quarter, thicker, and gold-color so people would use them and not get them "confused" with other coins?
2006-12-03 18:24:48 · answer #6 · answered by Anonymous · 1⤊ 1⤋
Right on. Talking about a fleecing.
2006-12-03 19:17:44 · answer #7 · answered by GOPneedsarealconservative 4 · 0⤊ 1⤋
yes.
pennies are only there to make money more difficult
2006-12-03 18:23:16 · answer #8 · answered by Anonymous · 0⤊ 2⤋