StittsvilleJame
Warlord
I heard on the news today that here in Canada they are now debating in the senate abolishing the penny, and will be releasing a commitee report by the end of the year.
I have head that it costs more than a penny to make a penny, and that over 50% of coins minted in Canada are pennies. This doesn't include the cost to businesses who have to roll them, or the bank which must accept and transport them around, and the time people invest in dealing with them. The actual cost is probably pretty high.
Also, the value of a penny is worth 20 times less today than it was in 1908.
New Zealand has abolished their pennies (nickels too apparently) and there was no inflation (apparently it is a misconception that everything would be rounded upwards to the nearest nickel).
The thing is, despite many good reasons to abolish the penny, I will miss it. I pick pennies up when i see them (they are lucky you know). I will miss them, much like I miss Pluto being a planet. Although neither of these things will affect me in any substantial way, it's a nostalgia thing.
I find the whole getting rid of the penny thing to be symptomatic of the problems with our society these days. People no longer value the little things, they only value that which will benefit them alot, not just a little. Even a charity, the Salvation Army, no longer seems to value the penny. A representative has stated that the would prefer pennies be abloished, and have even experimented with debit/credit machines at their Christmas kettles!That bothers me the most. They would turn down money because it isn't enough for them? Wow.
Anyways, what do you think? Is the penny a useless relic of a time long past, or should it occupy a special place, to remind us that sometimes little things can also have value.
I have head that it costs more than a penny to make a penny, and that over 50% of coins minted in Canada are pennies. This doesn't include the cost to businesses who have to roll them, or the bank which must accept and transport them around, and the time people invest in dealing with them. The actual cost is probably pretty high.
Also, the value of a penny is worth 20 times less today than it was in 1908.
New Zealand has abolished their pennies (nickels too apparently) and there was no inflation (apparently it is a misconception that everything would be rounded upwards to the nearest nickel).
The thing is, despite many good reasons to abolish the penny, I will miss it. I pick pennies up when i see them (they are lucky you know). I will miss them, much like I miss Pluto being a planet. Although neither of these things will affect me in any substantial way, it's a nostalgia thing.
I find the whole getting rid of the penny thing to be symptomatic of the problems with our society these days. People no longer value the little things, they only value that which will benefit them alot, not just a little. Even a charity, the Salvation Army, no longer seems to value the penny. A representative has stated that the would prefer pennies be abloished, and have even experimented with debit/credit machines at their Christmas kettles!That bothers me the most. They would turn down money because it isn't enough for them? Wow.
Anyways, what do you think? Is the penny a useless relic of a time long past, or should it occupy a special place, to remind us that sometimes little things can also have value.
