Canada Eliminates the Penny

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    Mar 31, 2012 3:24 PM GMT
    CApenny.jpg

    http://www.bloomberg.com/news/2012-03-29/canada-eliminates-penny-that-costs-penny-and-a-half-to-make.html

    Should the US do the same thing? Do you still use cash?
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    Mar 31, 2012 3:25 PM GMT
    I wish the US would get rid of pennies. It's fucking annoying waiting in a checkout line while some old bitch thumbs through her coin purse to get the exact change, one penny at a time.
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    Mar 31, 2012 4:13 PM GMT
    paulflexes saidI wish the US would get rid of pennies. It's fucking annoying waiting in a checkout line while some old bitch thumbs through her coin purse to get the exact change, one penny at a time.


    Just last week I was in line behind an old man who wrote a check for the $ portion of his purchase and then dug in his pockets for the ยข portion. I had to piss so it seemed like an excruciatingly long period of time.
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    Mar 31, 2012 4:50 PM GMT
    Can't believe that u guys aren't worried about inflation. Soon the $10 bill may get obsolete.

    *Edit... I'm cracking up. I wrote inflamation b/c I'm dealing with it all day long (i.e. I'm a dentist). Of course, I meant inflation.
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    Mar 31, 2012 5:06 PM GMT
    sweetyork saidCan't believe that u guys aren't worried about inflamation. Soon the $10 bill may get obsolete.
    Inflamation? icon_lol.gif
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    Mar 31, 2012 5:13 PM GMT
    paulflexes said
    sweetyork saidCan't believe that u guys aren't worried about inflamation. Soon the $10 bill may get obsolete.
    Inflamation? icon_lol.gif


    I was either going to post "inflamatory remarks to follow" or simply notify the poster by email, but yes, I can accept inflamatory.

    That's when the price of everything becomes too bloated to fit in a budget.
  • barriehomeboy

    Posts: 2475

    Apr 01, 2012 12:01 AM GMT
    OK THIS is an example of what is wrong with RealJock. How did a discussion about currency turn into verbal insult about prostate health?
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    Apr 01, 2012 12:10 AM GMT
    The US should get rid of the penny and the paper one dollar bill.

  • agro

    Posts: 199

    Apr 01, 2012 12:26 AM GMT
    Australia ditched the cent aka penny yeeeeeears ago; we're doing just fine. I was pretty horrified with the amount of pennies I got while I was in America, I ended up dumping them in all the Salvation Army tins...
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    Apr 01, 2012 12:45 AM GMT
    holding onto outdated and obsolete things regardless of how much sense it makes to change? doesnt sound like america at all...
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    Apr 01, 2012 1:00 AM GMT
    CuandoLloranLasPalomas saidI have all these pennies and other coins in a jar in the kitchen.

    I dread taking them to the bank. I have to fight with my bank not to charge me a processing fee just to deposit the pennies and coins into my account as usable cash.

    I was informed that debit/credit cards have made the expensive coin-sorting machines more of a headache than an asset at a bank.

    Not happy with the 10% tax I pay to the tall green coin redemption machines at grocery stores.

    Now I empty small accumulation from the car's coin tray into the grocery-store self-checkout machine...then I swipe my debit card for the rest.

    Or, it turns into tip money at Starbucks, a place I've been spending a lot of money at lately. icon_razz.gif
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    Apr 01, 2012 1:03 AM GMT
    stark93 saidAustralia ditched the cent aka penny yeeeeeears ago; we're doing just fine. I was pretty horrified with the amount of pennies I got while I was in America, I ended up dumping them in all the Salvation Army tins...


    newsflash, the salvation army hates gays. Never give them anything or, if you do, make sure they know you're gay.
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    Apr 01, 2012 2:23 AM GMT
    AMoonHawk saidDefinitely a revenue generator. So for instance here the tax on a dollar comes out to approximately 7 cents, so now it would go up to 10 cents, or 10% of your earnings. And that is just for the purchase of items. Your income is taxed at about 10 to 15% for the average guy. So you are actually paying about 20 to 25% of taxes. If you make about 50K a year, then about $12,000+ a year will go to just taxes.


    The worst-case scenario is a single-item cash transaction that costs $0.03 and then gets rounded up to $0.05. But of course most transactions are in amounts far exceeding even the $1.00 example you cite; in these cases, the percentage that the rounding represents declines because its not on individual items but the TOTAL AGGREGATE TRANSACTION. For electronic transactions, there is absolutely no difference: there is no rounding applied.

    Your argument is flawed. Aussies (and a few others) can confirm this with their real-world experience... and it's going to work exactly the same here.
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    Apr 01, 2012 2:28 AM GMT
    I often wondered if more vending machines (or any coin operated machine) actually accepted the penny then maybe it would make them more usable. Hmmm...but that may only be an American problem. Do vending machines in Canada take pennies?
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    Apr 01, 2012 2:30 AM GMT
    Jockular saidI often wondered if more vending machines (or any coin operated machine) actually accepted the penny then maybe it would make them more usable. Hmmm...but that may only be an American problem. Do vending machines in Canada take pennies?


    Not that I've seen... not since my early childhood, anyways...
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    Apr 01, 2012 2:33 AM GMT
    Sure, it's not much in grand scheme of things, and most everybody hates them. There may be people who feel it's part of American Culture and must stay so, but so was Slavery and that has come and gone with the times. History is In Books for a reason.
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    Apr 01, 2012 2:36 AM GMT
    Russia still has kopecks, even though they're absolutely worthless and not given much attention. They're seldom counted exactly even in transactions. Last I checked, the conversion was 29.34 rubles to $1.00 USD.
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    Apr 01, 2012 2:40 AM GMT
    Phoenyx saidholding onto outdated and obsolete things regardless of how much sense it makes to change? doesnt sound like america at all...


    This is what conservatism looks like.
  • Webster666

    Posts: 9217

    Apr 01, 2012 3:26 AM GMT
    That makes no cents...
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    Apr 01, 2012 3:31 AM GMT
    Good for them. Who needs it?!
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    Apr 01, 2012 6:24 AM GMT
    We ("We" being Australia) got rid of our 1 and 2 cent pieces in 1991. Best thing ever.
  • CuriousJockAZ

    Posts: 19129

    Apr 01, 2012 6:45 AM GMT
    Webster666 saidThat makes no cents...



    LOLOLOL icon_lol.gif
  • Posted by a hidden member.
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    Apr 01, 2012 7:57 AM GMT
    I hate pennies, I throw em away.
  • calibro

    Posts: 8888

    Apr 01, 2012 9:22 AM GMT
    the problem isn' so much the penny as it costs way more to produce the penny than the penny is worth.... and the nickle is something like 11.8 cents. even the us' paper money is pretty out of date (coins are cheaper than bills because you don't replace them as often) and even when bills are needed (a twenty dollar coin would be lost too easily), the material used to manufacture bills isn't the best. in nz, you can't tear there bills, and they can easily go through the wash.