Death to the Penny?

orighu · #1 07-17-2006, 10:48 PM

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

macallan25 · #2 07-17-2006, 10:48 PM

I hate pennies.

DeltAlum · #3 07-18-2006, 04:32 PM

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

Let's get rid of them.

kddani · #4 07-18-2006, 04:33 PM

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

tunatartare · #5 07-18-2006, 04:46 PM

Would the nickel be next to go after the penny?

AlphaFrog · #6 07-18-2006, 04:48 PM

Quote:

Originally Posted by kddani

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

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

SOPi_Jawbreaker · #7 07-18-2006, 05:45 PM

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.

DeltAlum · #8 07-18-2006, 05:50 PM

If the penny goes, everything will seem more expensive.

Think how much more $10.00 seems than $9.99.

shinerbock · #9 07-18-2006, 05:50 PM

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.

honeychile · #10 07-18-2006, 10:58 PM

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!

Drolefille · #11 07-18-2006, 11:53 PM

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.

kstar · #12 07-19-2006, 12:14 AM

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.

Rudey · #13 07-19-2006, 10:53 AM

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

-Rudey

AlphaFrog · #14 07-19-2006, 11:01 AM

Quote:

Originally Posted by Drolefille

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.

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.

tunatartare · #15 07-19-2006, 11:02 AM

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