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What Happens When Pennies and Nickels Become Too Expensive?

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  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Hopefully, they stop making them.....Cheers, RickO


  • << <i>Hopefully, they stop making them..... >>



    Or for those who absolutely still require coinage perhaps a return to porcelain notgeld.
    1st You Suck - 04/07/05 - Thanks MadMarty!

    Happy Rock Wrens

    You're having delusions of grandeur again. - Susan Ivanova
    Well, if you're gonna have delusions, may as well go for the really satisfying ones. - Marcus Cole
  • lkeigwinlkeigwin Posts: 16,885 ✭✭✭✭✭
    The penny should be officially revalued at 2c, or 2.5c. Billions of them will be pulled from jars and spent. No need to keep minting them.

    Then plan their obsolescence.
    Lance.
  • Type2Type2 Posts: 13,985 ✭✭✭✭✭
    I don't know why they just dont make less of them some years that will cut cost and they can still make the Cent, Nickel not a hard fix. I would like to have some then none and not have prices rounded up.... But that is just me thinking.image


    Hoard the keys.
  • IrishMikeyIrishMikey Posts: 1,561 ✭✭✭
    Eventually someone in Washington will come to their senses, at least about the penny and
    nickel issue.
  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭
    The gov should just stop making them for commerce. The mint could still make them for mint sets and proof sets and perhaps by the roll to sell to collectors for a profit.

    Worry is the interest you pay on a debt you may not owe.

  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    The gov. outlaws melting them are taking them from the counrty in large quantities.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • Our government will probably think long and hard and spend millions on studies and probably come up with this...

    Yap
  • CaptHenwayCaptHenway Posts: 31,499 ✭✭✭✭✭
    Happened to be looking through the 1976 Mint Report for something and came across a report of a study from Research Triangle Institute. It recommended ceasing making one cent pieces by 1980. It also recommended discontinuing the half dollar and introducing a small dollar coin. There was a pictures of Frank Gasparro's flowing hair design that was eventually passed over in favor of Susan B. Agony.

    That was 38 years ago. THe only thing that happened was the small dollar.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • DeepCoinDeepCoin Posts: 2,781 ✭✭✭
    What would make sense given the change in value of our coins of the last 150 years is to keep the dime, half dollar, dollar coin (no $1 bills), and a $5 coin. Just think of the currency from 1914 and move the decimal one point. The last time we discontinued a coin for being too small was in the 1850s when we did away with the half cent.

    Of course this all makes too much sense, no pun intended.
    Retired United States Mint guy, now working on an Everyman Type Set.
  • BLUEJAYWAYBLUEJAYWAY Posts: 7,940 ✭✭✭✭✭


    << <i>I don't know why they just dont make less of them some years that will cut cost and they can still make the Cent, Nickel not a hard fix. I would like to have some then none and not have prices rounded up.... But that is just me thinking.image >>

    And doesn't rounding up cost the consumer more for the service/product?
    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    nickel is the next 90% silver. Hoard them.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • BaronVonBaughBaronVonBaugh Posts: 1,835 ✭✭✭✭
    Bring back the half dime and discontinue the nickel.
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭
    When they're too expensive, man will lose his sixth cents.
  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭
    Roman makeover

    Great ending, even if not a totally accurate description.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭


    << <i>Happened to be looking through the 1976 Mint Report for something and came across a report of a study from Research Triangle Institute. It recommended ceasing making one cent pieces by 1980. It also recommended discontinuing the half dollar and introducing a small dollar coin. There was a pictures of Frank Gasparro's flowing hair design that was eventually passed over in favor of Susan B. Agony.

    That was 38 years ago. THe only thing that happened was the small dollar. >>



    They did one third of that report, not bad actually.

    Plus I love the Sac small dollar as I know you do as well image
  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭
    dp
  • FullStrikeFullStrike Posts: 4,353 ✭✭✭
    If you must have them, the Mint should sell them to everyone that wants them. The price --- cost + 50% .
  • leothelyonleothelyon Posts: 8,349 ✭✭✭✭✭
    It only cost 10 cents to make a dollar bill. So it more than evens out.

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

  • leothelyonleothelyon Posts: 8,349 ✭✭✭✭✭
    When will they introduce the digital code coin......much like a debit card? Drop it in a slot, deductions are made with your bank account.........done deal.

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

  • 19Lyds19Lyds Posts: 26,470 ✭✭✭✭


    << <i>Hopefully, they stop making them.....Cheers, RickO >>

    Congress will have to grow some "balls" before this ever happens. </story.
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • 19Lyds19Lyds Posts: 26,470 ✭✭✭✭


    << <i>The penny should be officially revalued at 2c, or 2.5c. Billions of them will be pulled from jars and spent. No need to keep minting them.

    Then plan their obsolescence.
    Lance. >>

    Congress will have to grow some "balls" before this will ever happen!
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • 19Lyds19Lyds Posts: 26,470 ✭✭✭✭


    << <i>Happened to be looking through the 1976 Mint Report for something and came across a report of a study from Research Triangle Institute. It recommended ceasing making one cent pieces by 1980. It also recommended discontinuing the half dollar and introducing a small dollar coin. There was a pictures of Frank Gasparro's flowing hair design that was eventually passed over in favor of Susan B. Agony.

    That was 38 years ago. THe only thing that happened was the small dollar. >>

    Congress could not grow the "balls" necessary for such a proposal to happen!
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • 19Lyds19Lyds Posts: 26,470 ✭✭✭✭


    << <i>What would make sense given the change in value of our coins of the last 150 years is to keep the dime, half dollar, dollar coin (no $1 bills), and a $5 coin. Just think of the currency from 1914 and move the decimal one point. The last time we discontinued a coin for being too small was in the 1850s when we did away with the half cent. >>

    Congress had Balls back then!
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • richbeatrichbeat Posts: 2,288


    << <i>I don't know why they just dont make less of them some years that will cut cost and they can still make the Cent, Nickel not a hard fix. I would like to have some then none and not have prices rounded up.... But that is just me thinking.image >>




    Why does everyone think that prices would be rounded ONLY up for cash purchases? Prices would be rounded up...and down to the nearest nickel. We've been rounding up and down to the nearest cent for many years now. No difference to the nearest nickel. image
  • What we need is a 10-cent nickel.
    Let's try not to get upset.
  • ZoinsZoins Posts: 33,811 ✭✭✭✭✭


    << <i>What Happens When Pennies and Nickels Become Too Expensive? >>



    $100M / year isn't expensive enough for the President to worry about yet. When does it become expensive enough to get on his list?
  • DavideoDavideo Posts: 1,361 ✭✭✭✭


    << <i>

    << <i>I don't know why they just dont make less of them some years that will cut cost and they can still make the Cent, Nickel not a hard fix. I would like to have some then none and not have prices rounded up.... But that is just me thinking.image >>

    And doesn't rounding up cost the consumer more for the service/product? >>



    Except for when it rounds down. And we do see this now, but not that often. For example, when an item is 3 for a dollar, and you purchase 2 items the charge is $0.67. So it was rounded up 1/3 of a cent.
  • OverdateOverdate Posts: 6,903 ✭✭✭✭✭


    << <i>Why does everyone think that prices would be rounded ONLY up for cash purchases? Prices would be rounded up...and down to the nearest nickel. We've been rounding up and down to the nearest cent for many years now. No difference to the nearest nickel. image >>


    What is Canada's rounding experience since they dropped the cent?

    With credit/debit cards being used for even small purchases these days, I think rounding is becoming a non-issue in the U.S.

    My Adolph A. Weinman signature :)

  • richbeatrichbeat Posts: 2,288


    << <i>

    << <i>

    << <i>I don't know why they just dont make less of them some years that will cut cost and they can still make the Cent, Nickel not a hard fix. I would like to have some then none and not have prices rounded up.... But that is just me thinking.image >>

    And doesn't rounding up cost the consumer more for the service/product? >>



    Except for when it rounds down. And we do see this now, but not that often. For example, when an item is 3 for a dollar, and you purchase 2 items the charge is $0.67. So it was rounded up 1/3 of a cent. >>



    So sorry, I was actually referring to the sales tax. image
  • They will fight getting rid of the penny, because the very act of doing so, could incite talk of dollar instability, however real or not real that may be.
    So they will keep printing them in zinc/copper and keep pushing transactions to credit/debit so there is less of a loss.
    Their overall seignorage profits will always be positive.
    Especially for the currency that gets taken overseas and never comes back.
  • leothelyonleothelyon Posts: 8,349 ✭✭✭✭✭
    While sorting out a junk box of misc. stuff I came across a sheriffs badge one of my kids received when they were in grade school. At first I thought it was made out of metal because some of the areas on the thing looked proof-like. But no, it's plastic. So yeah, now I can see our coinage becoming plastic someday.

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

  • ms70ms70 Posts: 13,946 ✭✭✭✭✭
    I don't care what anyone says, the little guy will always get screwed with rounding. I think we should just stop making cents & nickels until there's a need for them.

    Great transactions with oih82w8, JasonGaming, Moose1913.

  • It will be like the bag credit at whole foods.
    give you a store credit, then "would you like to donate to <cause of the day>"?
    making you feel like a scumbag if you don't.
    thus i don't bother bringing bags to whole foods anymore :-)
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭


    << <i>What Happens When Pennies and Nickels Become Too Expensive? >>



    A baker's dozen becomes 11 instead of 13 ?

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