Death to the Penny?
 

What do you all think about the talk of riding our pockets of the penny? I'm not sure I have an opinion.. I know i have about $20 in a jar that needs to hit a CoinStar.......

http://articles.moneycentral.msn.com...1=8376&lc=1033

I hate pennies.

I hate pennies as well -- and it supposedly costs more than 1 cent to produce them.

Let's get rid of them.

I don't think K-fed participating in the campaign is going to help it any, lol

Would the nickel be next to go after the penny?

K-Fed can use all the pennies he can get.

I think K-Fed's campaign was totally stupid. I hate these new, stupid, lame guerilla/viral advertising campaigns. The lastest one that I'm hating is NoScruf. article or NoScruf website...enter at your own risk When I first heard that Brooke Burke and Kelly Monaco were participating in some kind of protest, I thought it would be for something AIDS awareness or world hunger. Nope.

Back on topic, I think they should just change the materials used to make the coins. I think if we got rid of pennies, it would just cause a lot of problems. Prices would all have to be rounded to the nearest nickel. Sales tax would have to be either 5% or 10%. And tons of angry people would be left with tons of useless pennies.

If the penny goes, everything will seem more expensive.

Think how much more $10.00 seems than $9.99.

Well are we talking about abolishing the penny, or simply not making it anymore. I agree there are too many in circulation. I purposefully leave change that amounts to less than a quarter. I often drive off from the drive through as quick as possible, before whoever it is can hand me those damn coins.

I always leave my change at McDonald's (for Ronald McDonald Houses) and the "leave a penny" places - but I have a TON of pennies!! I'm talking three of those old fashioned milk bottles (the gallon size!) and two of the quart size. CoinStar is definitely going to be my best friend soon!

Go to your bank! They'll almost certainly do it for free! Coinstar takes a percentage.

Although they have some new deal where if you get giftcards they don't take a cut.

One of my cousins immigrated to Austrailia years ago. When she closed out an account at a bank, she did so with a 2 cent debt. Since they have no pennies, they can't give her change, and apparently you can't do a debit card transaction for less than 5 cents. She gets a note every month reminding her of her debt.

I like pennies. They're a useful coinage, opposed to dollar coins and half dollar coins.

I think that once they move towards electronic money all the problems in the world will be solved.

-Rudey

See, unfortunatly, I've found that this is either an IL thing or a Mid-west thing. When I first moved here to Charlotte, I took my jar of coins to EVERY bank in this area, and when I asked them to change them in, ALL of them tried to hand me coin wrappers. I finally gave up and went to Coinstar.

Is there a Commerce Bank near you? I think they do it for free.

Nope. Wachovia, SunTrust, BofA, First Trust, Citizens, BB&T (or as we call it, Billy Bob Bank & Trust), and a bunch of small locals.

The Penny, The Cent, wow, the mint produces these things in K-Zillions.

It is not the cost, it is the Morons who throw them in Big damn Jars and a save them for What? Cause they are Morons!

From a Marketing technique, having a price of a say $3.99 looks better than $4.00. Why? People are stupid and look at the first number, not the total.

$3.99 is a lot less than $4.00!

Example. An Item is $3.69, depending on the tax base, the total comes in at $3.99, not $4.00. Ergo, it is cheaper than $4.00! People are happy!:D

It is called a mind set!:)

I've heard the penny debate a lot over the past 10 or so years. I'd be for dropping it just like they have in England and such (or am I thinking Europe?)

What about changing from bills to coins for small denominations such as 1 and 2 dollars?

I can see the point behind exchanging small bills for coins - they last longer. Lots of other countries do this. But, given the attitude Americans seem to have adopted regarding coins, I doubt it would fly. I'm all for it though.. I throw all my change in jars (yes, I have one for each coin, I'm an organizational freak) everyday. In December, I roll all the coins (I'm too cheap for CoinStar, and none of the banks here will do it free of charge) and use the money for Christmas gifts. It's amazing how much you can save over the year by doing this.

Personally I hate the dollar coins. Metrocard vending machines always give them back in change and they just annoy me cuz they take up too much space in my wallet. If I'm going to go buy something that costs $20, I really don't want to have to pay for it with 20 coins.

Fantastic, We got from The Penny to the Dollar Coins!:mad:

Makes a lot of Cents?:confused:

Okay, they suck, so get over it! $1.00 coins, carry about $10.00 int YOur pocket!

Have a semestress!:o

See I LOVE them. When I travel I can't get enough. The downside is the way they're used in the US, you either get them back from machines, like KLPDaisy, in LARGE amounts, or you have to beg for them at the bank.

Ideally you're never carrying more than a few of the dollar or 2 dollar coins at once.

Who gets the extra money when something comes to $10.36? round up? Round down? What about sales tax? How do you fill your tank with gas without pennies? I'm just not seeing how it would be feasible.

The way I understand it is that everything would be rounded to the nearest nickel. So, $10.36 would be rounded down to $10.35. On the other hand, $10.38 would be rounded up to $10.40. The real problem lies in things that cost $x.x7. What to do?!?!? Chaos will ensue!!

I am Professor Chaos! Bringer of destruction and maker of doom! Those who do not know me yet shall know me very soon, for the hour of Chaos ih-is at hand!
http://upload.wikimedia.org/wikipedi...6_image_01.jpg

Did anyone do Common Cents in elementary school? My school did it as a charity project for my grade when we were in 5th grade. We collected pennies (people could give us other money too, but the reason that we did pennies is because most people don't care about getting rid of those) frpm people in our buildings then we spent a day sorting them and wrapping them. Our teachers took them to the bank to get cash for them and the money was donated to City Harvest. In the end, we raised several thousand dollars, which is incredible considering that there were only 16 kids in my entire grade.

No but in college we did "Penny Wars" where you tried to get the most pennies in your bucket, but all other change/dollars counted against you... so you put those in the other people's buckets.

Usually a lot of fun, and the money went to charity. (Either a fraternity's philanthropy or another club's project.

In Austrailia, it is rounded up, unless you pay with a card, then it is to the exact cent. However, as I already said, they don't seem to allow debit/credit transactions of less than 5 cents.

Have them put a charge on for 13 cents, then a rebate for 15!

She could ask at least...

Off Topic, But...
 

Has anyone else had to help someone who's blind try to keep their money straight? I can tell the difference between the coins, but the paper money? I've even asked bank tellers, and they're not sure. Help?

Thank you! I had heard that, but I was wondering exactly which corner meant what. I have low-sighted clients, and there only seems to be more by the day!

How to identify money

This site has some instructions.

Another site i looked at says that most people will have their own system and as you hand the money back, they will ask what bill it is and fold it appropriately.