There was talk about rounding all prices to nearest 5 c-nickel, and eliminating the penny, some years back, so far nothing happened the pennies are still weighing our pockets down, and "littering" our sidewalks. Why is that?...is it greed of merchants, who want to get you for all they can, or public loves the cents...(my 2 cents worth. winking smiley here)
2007-07-08 03:37:48 · 3 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
The US Mint hasn't publically announced the demise of the penny, but within the past year, the price of metals has pushed the value of the metal past one cent. However, the US Mint issued an announcment early in 2007 that it's a $10,000 fine for melting down coins for the metal value. Interestingly enough, pennies are over 90% zinc (copper plating on the outside). Nickels are also worth more than 5 cents. By the way, nickels are 75% copper and 25% zinc.
As most people know, dimes used to be made from silver (90% silver, 10% copper). But, since 1965 we've been making them from mostly copper (with a nickel/copper layer on the outside).
2007-07-08 04:30:35 · answer #1 · answered by jdkilp 7 · 1⤊ 0⤋
If we eliminated pennies , everything would get rounded up , causing a temportary bump in inflation. Probably wouldn't matter , .... until somebody figures out nickels aren't worth it, "...so lets round up to the nearest 10c.." . ad infinitum . I'm willing to live with pennies . ;D
2007-07-08 10:48:29 · answer #2 · answered by mikeinportc 5 · 0⤊ 1⤋
The penny will go away the same time the paper dollar is no longer issued!
2007-07-08 10:46:33 · answer #3 · answered by Jan Luv 7 · 0⤊ 1⤋