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mint begins trial strikes for different compositions for cents and other denominations.....
tahoe98
Posts: 11,388 ✭✭✭
"government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
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They should eliminate the penny and make the nickel out of aluminum. Problem solved.
They could/possibly should just make them as needed, like was done in the formative years of the country, instead of making 18 trillion of them a year.
Kill the penny?
In 1913 the lowest denomination coin was a quarter (in today's purchasing power, according to the official CPI). And back then, a hefty majority of small transactions were made in cash. Today credit/debit card transactions for small amounts are commonplace, and bypass the need for rounding up or down.
My Adolph A. Weinman signature
<< <i>The cent is very much needed. Not everyone can afford to have everything rounded up.
They could/possibly should just make them as needed, like was done in the formative years of the country, instead of making 18 trillion of them a year. >>
What might it cost you in one year? $2-3?
<< <i>Pleeeease.....get rid of the useless CENT......pleeeeeease.....!!!! >>
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
My extremely uninformed proposal:
Eliminate the cent and dollar bill.. This will force people to use the dollar coins finally and save 6 million vaccum cleaners a year.
Ramp up $2 bill production to the point where they're no longer a novelty and Taco Bells actually take them.
<< <i>Eliminate the cent, bring back the half, eliminate the one dollar bill. Cheers, RickO >>
...only in our dreams.
<< <i><< The cent is very much needed. Not everyone can afford to have everything rounded up. >>
In 1913 the lowest denomination coin was a quarter (in today's purchasing power, according to the official CPI). And back then, a hefty majority of small transactions were made in cash. Today credit/debit card transactions for small amounts are commonplace, and bypass the need for rounding up or down. >>
I agree, the quarter is the new penny.
<< <i>
<< <i><< The cent is very much needed. Not everyone can afford to have everything rounded up. >>
In 1913 the lowest denomination coin was a quarter (in today's purchasing power, according to the official CPI). And back then, a hefty majority of small transactions were made in cash. Today credit/debit card transactions for small amounts are commonplace, and bypass the need for rounding up or down. >>
I agree, the quarter is the new penny. >>
...i'd think more like the dollar.
They don't need to "eliminate" the cent. Just stop making them. Billions exist- they just don't circulate because the purchasing power is too small to bother with.
I think it'd be cool to own a trial strike, though.
I knew it would happen.
<< <i>
<< <i>Eliminate the cent, bring back the half, eliminate the one dollar bill. Cheers, RickO >>
...only in our dreams.
and checking for allergic reactions
<< <i>
<< <i>The cent is very much needed. Not everyone can afford to have everything rounded up.
They could/possibly should just make them as needed, like was done in the formative years of the country, instead of making 18 trillion of them a year. >>
What might it cost you in one year? $2-3? >>
Rounding would result in 90% of people being within 10c of being even with equal numbers losing and gaining.
The savings to the economy would be enormous.
<< <i>
<< <i>
<< <i>The cent is very much needed. Not everyone can afford to have everything rounded up.
They could/possibly should just make them as needed, like was done in the formative years of the country, instead of making 18 trillion of them a year. >>
What might it cost you in one year? $2-3? >>
Rounding would result in 90% of people being within 10c of being even with equal numbers losing and gaining.
The savings to the economy would be enormous. >>
I grabbed 2 months worth of receipts that I had laying around (not overly scientific, but ...)
13 would have been rounded up, 8 would have been rounded down and 7 were either on the 5 cent or 0 cent terminator.
I didn't check to see if they were rounded up/down by 1 or 2 cents, but let's pretend they were all the same amount (1 cent) in their respective direction.
So in the course of 2 months, I was up charged 5 cents.
I've passed more change on the street because I didn't want to get my hands dirty.
I don't see a big impact by ridding this country of the 1 cent coin.
AND, this would only be an impact when paying cash. If you pay be check or card, you pay the exact amount, not a rounded amount.
<< <i><< The cent is very much needed. Not everyone can afford to have everything rounded up. >>
In 1913 the lowest denomination coin was a quarter (in today's purchasing power, according to the official CPI). And back then, a hefty majority of small transactions were made in cash. Today credit/debit card transactions for small amounts are commonplace, and bypass the need for rounding up or down. >>
Am I the only pone that gets tired of these monetary comparisons for what purchasing power was 100 years ago?
This is today and unless the folks making these comparison's have rejected every raise they've ever been offered since 1913 and thumbed their noses at inflation then the comparison's really have no merit.
What a quarter could buy 100 years ago is really kinda pointless.
Back tot he subject matter, I wonder how many of these trial strikes will find their way into provate collections? I'm actually considering writing my Congress Person for some possible handouts!
The name is LEE!
<< <i>Eliminate the cent, bring back the half, eliminate the one dollar bill. Cheers, RickO >>
Far, far too simple and logical to make any sense at all in this topsy-turvy world of Political Correctness!
The name is LEE!
Whatever you are, be a good one. ---- Abraham Lincoln