1. Post #41

  2. Post #42
    Lilyo's Avatar
    October 2011
    2,366 Posts
    That will annoy a good amount of person having to pay more for some goods and less for other goods
    Yes I'm sure everyone will be outraged for paying 2 more cents for something. Canada has discontinued its penny and is now encouraging business to round to the nearest 5 cent mark, something that we already know doesn't make prices rise or make business lose profit as the value balances out systematically (you pay 2 cents more for something that was .03 before and 2 cents less for something that was .2 before, balancing your "loses" out for example). Many countries have already gotten ride of their pennies without any riots breaking out in the streets...

  3. Post #43
    Gold Member
    The freeman's Avatar
    October 2007
    6,615 Posts
    Yes I'm sure everyone will be outraged for paying 2 more cents for something. Canada has discontinued its penny and is now encouraging business to round to the nearest 5 cent mark, something that we already know doesn't make prices rise or make business lose profit as the value balances out systematically (you pay 2 cents more for something that was .03 before and 2 cents less for something that was .2 before, balancing your "loses" out for example). Many countries have already gotten ride of their pennies without any riots breaking out in the streets...
    Paying 2-5 more/less cents on stuff like gas is a pretty big deal in the long run, but that is just me.

  4. Post #44
    Gold Member
    Dennab
    August 2009
    866 Posts
    Not the nickel. We should ditch the penny though. Start to phase it out at least.

  5. Post #45
    zakedodead's Avatar
    September 2007
    3,256 Posts
    We could even live without dimes pretty damn easy, just round to nearest/round up to nearest quarter.

  6. Post #46
    The last time I remembered using a penny was like, my piggy bank when I was five.

  7. Post #47
    Ybbats's Avatar
    February 2012
    810 Posts
    Just fyi, the US would not take existing 1c/5c coins out of use under any plan anyone has proposed, we'd just simply stop producing new coins and use the ones already out in peoples change jars.

  8. Post #48
    RAPISTS ARE OPPRESSED
    mobrockers2's Avatar
    April 2011
    12,403 Posts
    Definitely get rid of the 1 at the very least, the five cent might still have a place due to the odd status of quarters.

    I am Australian and we got rid of 1 and 2 coins in 1992. The same trick of making everything $19.95 still exists, but there really isn't a problem. It is rounded to the nearest five and I really don't think it's much of a big deal in cash transactions if you lose 2 when 5 is practically worthless. Our coins go .05, .10, .20, .50, 1.00, 2.00 so we don't have the issue of quarters and could move up to 10, but not right now.
    Exact same in the Netherlands. Parking meters and vending machines don't take anything less than 20c either so you really can't use them for anything anymore unless you have a butt load of them and use them at the grocery store.

    Well we didn't get rid of 1c and 2c coins, they're just not produced anymore. If I ever see one it's usually a belgian one.

    Edited:

    Paying 2-5 more/less cents on stuff like gas is a pretty big deal in the long run, but that is just me.
    I don't think you understand what he said. What he said is, in the long run you don't pay anything more nor less, you pay the same because it's rounded to the nearest 5c meaning that sometimes you're lucky and pay less, sometimes you're unlucky and pay more, those two balance each other fairly good.

  9. Post #49
    zakedodead's Avatar
    September 2007
    3,256 Posts
    We should just completely stop printing any form of money and only spend it/destroy it until we value it more.

  10. Post #50
    We Are No Idiots
    Aide's Avatar
    March 2010
    4,865 Posts
    If we gonna get rid of the penny then we need to either round down or round up the price of gas. It's really annoying to know that gas is always (3-5).(1-99)9[Depending on where you live in America].

  11. Post #51
    AMG
    AMG's Avatar
    October 2009
    48 Posts
    I only came to this thread to check out the above users hot pic

    Edited:

    niceeeeeeeeeeeeeeeeeeeeeeeeeeee

    (User was banned for this post ("This is not debating." - Megafan))

    (User was banned for this post ("Extended for previous offense in Mass Debate." - Megafan))

  12. Post #52
    Gold Member
    Faren's Avatar
    October 2006
    5,585 Posts
    In Australia we only go down to 5 cent coins and I have to say, one of the most irritating things about visiting Germany is the worthless stack of 1, 2 and 5 Euro cent coins I ended up with. It's irritating and impractical for people to fiddle around with small change at registers and it either ends up with transactions taking much longer or people collecting worthless small change.

  13. Post #53
    RAPISTS ARE OPPRESSED
    mobrockers2's Avatar
    April 2011
    12,403 Posts
    If we gonna get rid of the penny then we need to either round down or round up the price of gas. It's really annoying to know that gas is always (3-5).(1-99)9[Depending on where you live in America].
    1.99 becomes 2.00 (if you pay in cash), and 1.93 becomes 1.95 and 1.92 becomes 1.90. It's not that hard.

  14. Post #54
    Gold Member
    Mr. Someguy's Avatar
    March 2006
    24,438 Posts
    Not unless we're willing to overhaul our entire currency system to compensate.

    In fact it'd probably just be easier to give pennies more worth.

    Edited:

    Plus something like this would probably hit the poor harder than anyone else.

  15. Post #55
    Lilyo's Avatar
    October 2011
    2,366 Posts
    Not unless we're willing to overhaul our entire currency system to compensate.

    In fact it'd probably just be easier to give pennies more worth.

    Edited:

    Plus something like this would probably hit the poor harder than anyone else.
    That makes no sense. Why would you give pennies more "worth"? That would give all the other coins more "worth" as well so then a dollar would be $5 now. And as we talked about before, rounding prices to the nearest 5 cent mark won't impact your spending in any meaningful way.

  16. Post #56
    Gold Member
    darcy010's Avatar
    August 2009
    6,995 Posts
    In Australia we don't have 1 cent coins. And over the years we're spacing out 5 cent coins. So we'll have 10 cent as our lowest.
    I think it's a good idea. You can't buy anything for 5 cents. They're just a huge waste.

  17. Post #57
    Gold Member
    Mr. Someguy's Avatar
    March 2006
    24,438 Posts
    That makes no sense. Why would you give pennies more "worth"? That would give all the other coins more "worth" as well so then a dollar would be $5 now. And as we talked about before, rounding prices to the nearest 5 cent mark won't impact your spending in any meaningful way.
    Because if everything rounds up, and taxes round up, things are slightly more expensive than they were before.

  18. Post #58
    zakedodead's Avatar
    September 2007
    3,256 Posts
    Because if everything rounds up, and taxes round up, things are slightly more expensive than they were before.
    But the net gain in overall value by eliminating deadweight would more than make up for it.

  19. Post #59
    Gold Member
    Killerjc's Avatar
    August 2008
    4,598 Posts
    I bought my lunch today with the change in my cupholder (aka a big fucking pile of 1, 5, 10, and 25 cent coins) so if it weren't for pennies and nickels I'd probably have skipped lunch
    what a great and convincing argument for keeping coins

  20. Post #60
    Gold Member
    JoeSkylynx's Avatar
    October 2008
    11,776 Posts
    The real reason I'm pissed off is the manufacturing cost of the nickle/penny. The nickle costs roughly 11.7 - 12 cents to produce, while the penny costs 2.4 - 3 cents to produce. What's even more retarded is the dime costs roughly a nickle(5 cents) to produce. As it stands the question isn't really, "Shouldn't we be keeping them for ease of transaction?" its more on the line "Why are we keeping something which costs more to produce while the higher valued currency[dime/quarter] has manufacturing prices which are drastically smaller then their actual value.
    The nickle? It can be saved or phased. The penny should die though because it's too little of value to base on a material currency.

  21. Post #61
    Valnar's Avatar
    November 2007
    2,631 Posts
    The real reason I'm pissed off is the manufacturing cost of the nickle/penny. The nickle costs roughly 11.7 - 12 cents to produce, while the penny costs 2.4 - 3 cents to produce. What's even more retarded is the dime costs roughly a nickle(5 cents) to produce. As it stands the question isn't really, "Shouldn't we be keeping them for ease of transaction?" its more on the line "Why are we keeping something which costs more to produce while the higher valued currency[dime/quarter] has manufacturing prices which are drastically smaller then their actual value.
    The nickle? It can be saved or phased. The penny should die though because it's too little of value to base on a material currency.
    Except I can make the argument that while penny costs more than it's value, a single penny in its lifetime is most likely used in multiple transactions in its lifetime. So a single penny used at least 5 times would have been used as transaction value for 5 cents total.

  22. Post #62
    RAPISTS ARE OPPRESSED
    mobrockers2's Avatar
    April 2011
    12,403 Posts
    Except I can make the argument that while penny costs more than it's value, a single penny in its lifetime is most likely used in multiple transactions in its lifetime. So a single penny used at least 5 times would have been used as transaction value for 5 cents total.
    No, that's not how money works.

  23. Post #63
    Valnar's Avatar
    November 2007
    2,631 Posts
    No, that's not how money works.
    And saying that a penny costs 2.5 cents as a bad thing doesn't make much sense either if what I said doesn't make any sense.

  24. Post #64
    RAPISTS ARE OPPRESSED
    mobrockers2's Avatar
    April 2011
    12,403 Posts
    And saying that a penny costs 2.5 cents as a bad thing doesn't make much sense either if what I said doesn't make any sense.
    No that makes perfect sense. If the actual value of the coin is less then what it costs to produce it, you might as well not make it.

  25. Post #65
    Gold Member
    JoeSkylynx's Avatar
    October 2008
    11,776 Posts
    Except I can make the argument that while penny costs more than it's value, a single penny in its lifetime is most likely used in multiple transactions in its lifetime. So a single penny used at least 5 times would have been used as transaction value for 5 cents total.
    Transaction Use != Cost of Production

    We're still losing two cents for every penny which is produced. You can have that penny used in 1000's of transactions and it would not matter.

  26. Post #66
    Lilyo's Avatar
    October 2011
    2,366 Posts
    Because if everything rounds up, and taxes round up, things are slightly more expensive than they were before.
    Not everything rounds up... If something is 1.98 or 1.99 it rounds to 2.00, but if its 1.96 or 1.97 it rounds to 1.95 so the total net value of your purchases would almost always balance out.

  27. Post #67
    babycake's Avatar
    January 2012
    205 Posts
    How about this: We get rid of sales taxes, so we wont need the nickel and penny. Then we could faze them out.

  28. Post #68
    Gold Member
    Traid333's Avatar
    May 2008
    76 Posts
    I've heard a rumor from one of my teachers that the 1 cent is being removed officially sometime this year, or next year in Canada. Apparently everything will be rounded.
    Though, I think United states should keep it.

    Honestly, if one kept it, and the other didn't, it would screw up the whole Dollar system. What if a U.S. resident came to Canada or vise-versa and they only had pennies!?

  29. Post #69
    Lilyo's Avatar
    October 2011
    2,366 Posts
    The US and Canadian currency systems have nothing to do with each other, what are you talking about? Canada already stopped using the penny this year.

  30. Post #70
    Gold Member
    wertel's Avatar
    May 2009
    105 Posts
    It would honestly be a good idea to kill the penny. However the nickel should stay. The nickel is cheaper to make (Correct me if I am wrong) than the other coins. You rarely see something in America that is priced $1.17, instead almost everything is priced as a multiple of five or adds up to a multiple of five. So in my opinion, death to the pennies.

  31. Post #71
    Bus Driver
    Demache's Avatar
    December 2009
    8,342 Posts
    It would honestly be a good idea to kill the penny. However the nickel should stay. The nickel is cheaper to make (Correct me if I am wrong) than the other coins. You rarely see something in America that is priced $1.17, instead almost everything is priced as a multiple of five or adds up to a multiple of five. So in my opinion, death to the pennies.
    Sales tax and pricing everything to end with a nine is what makes it debateable. $1.17 isnt as uncommon as you would think.

  32. Post #72
    Gold Member
    TestECull's Avatar
    July 2007
    7,037 Posts
    How 'bout no? I'd be for cutting production on them back a bit, significantly so even, but cutting them from our currency entirely? No. They should stay legal tender, and they should stay in the system as far as non-cash transactions(Credit cards, online purchases, and even checks if you still use those) go. Give how much of our money doesn't even exist I see no valid reason to discontinue the cent as legal tender, even if you stop or seriously reduce production of the coins that represent it.

  33. Post #73
    RAPISTS ARE OPPRESSED
    mobrockers2's Avatar
    April 2011
    12,403 Posts
    How 'bout no? I'd be for cutting production on them back a bit, significantly so even, but cutting them from our currency entirely? No. They should stay legal tender, and they should stay in the system as far as non-cash transactions(Credit cards, online purchases, and even checks if you still use those) go. Give how much of our money doesn't even exist I see no valid reason to discontinue the cent as legal tender, even if you stop or seriously reduce production of the coins that represent it.
    I'm sorry, but what the fuck are you talking about? American dollars will always stay legal tender, always. It's like a law or something. The only thing we're talking about here is stopping production. Stopping production of a coin doesn't automatically cut them out of your currency.

  34. Post #74
    The Jman Wik's Avatar
    November 2007
    526 Posts
    Because if everything rounds up, and taxes round up, things are slightly more expensive than they were before.
    Paying 2-5 more/less cents on stuff like gas is a pretty big deal in the long run, but that is just me.
    Not unless we're willing to overhaul our entire currency system to compensate.

    In fact it'd probably just be easier to give pennies more worth.

    Edited:

    Plus something like this would probably hit the poor harder than anyone else.


    uhh no. You would only ever overpay by a few cents per transaction. Do you guys really not understand how rounding works?

    You wouldn't end up paying several cents more per each gallon of gas for example. The final amount in the transaction is rounded, not the price of each individual item.

  35. Post #75
    Pedobear Escape 2
    faceguydb's Avatar
    December 2010
    341 Posts
    uhh no. You would only ever overpay by a few cents per transaction. Do you guys really not understand how rounding works?

    You wouldn't end up paying several cents more per each gallon of gas for example. The final amount in the transaction is rounded, not the price of each individual item.
    You are right, it is all ready done that way, gas prices I see can be something like 3.899 and are rounded to the penny. Also, the US used to have a half cent, they discontinued it when it had the buying power of today dime. Also law of averages. *.*3 *.*4 get rounded up. *.*1 *.*2 get rounded down. You will not pay more over time, only save time.

  36. Post #76
    Atlascore's Avatar
    June 2011
    8,813 Posts
    I've heard a rumor from one of my teachers that the 1 cent is being removed officially sometime this year, or next year in Canada. Apparently everything will be rounded.
    Though, I think United states should keep it.

    Honestly, if one kept it, and the other didn't, it would screw up the whole Dollar system. What if a U.S. resident came to Canada or vise-versa and they only had pennies!?
    This has the be the stupidest argument against anything, ever.

    Who the fuck would go to another country and only bring pennies? You do realize it would take thousands of pennies to afford anything right? They would literally have to carry around tens of pounds, or even a hundred pounds of pennies to buy anything.

    Also no, it would in no shape or form screw up the dollar system.

  37. Post #77
    ShadowSocks8's Avatar
    November 2007
    2,489 Posts
    Keep it how it is

  38. Post #78
    RAPISTS ARE OPPRESSED
    mobrockers2's Avatar
    April 2011
    12,403 Posts
    Keep it how it is
    Because?

  39. Post #79
    MBB

    February 2012
    356 Posts
    Just to add some data in here, keeping the penny only costs the US around $50 a year so cutting it really won't do much in the way of saving money.

    And some other interesting facts:
    An analysis by Raymond Lombra, PhD, Professor of Economics at Penn State University confirms these concerns. He found that eliminating the penny would lead to a rounding of prices in America that he estimates would cost consumers more than $600 million every year.
    I'm leaning towards no.

  40. Post #80
    zakedodead's Avatar
    September 2007
    3,256 Posts
    Keep it how it is because I like my little round pieces of copper/zinc and I don't care how useless they really are.