Goodbye sweet penny :(

[TheLastOne36]

That's another thing that has to change in the US. Build the sales tax into the marked price.
Online it makes sense not to, since tax varies from state to state, but in real world stores they should have the real prices.

They do this to some extent in Venezuela. It's much simpler, I agree.

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We have 50 cent coins in Canada?

Yah, they still make them too even though I personally have never seen one.

They are intending on producing more of them this upcoming decade according to wikipedia anyway.

 

[warpus]

50 cent coins sound like they'd be useful.. but no machines out there will take them.

 

[Valka D'Ur]

Yah, they still make them too even though I personally have never seen one.

They are intending on producing more of them this upcoming decade according to wikipedia anyway.

They're rather classy-looking.

50 cent coins sound like they'd be useful.. but no machines out there will take them.

Since pay phones in Alberta cost 50 cents and they don't give change, that's one use for a 50-cent coin.

But by the time TPTB realize that, there won't be any pay phones left.

 

[TheLastOne36]

I want Winnipeg to start minting more 50 cent pieces.

 

[StittsvilleJame]

If you go to the bank, you can ask for 50 cent pieces, they're not super rare or anything. I get them sometimes just to mess with the folks at Tim Hortons...

I remember going to the bank with a friend of mine to cash his paycheque, and he wanted to be all cool and gangsta style, so he got his pay (probably $150.00 if that) all in 2 dollar bills, then rolled it all up and put a twenty on the outside. Man, we were loser kids...

I still have a twoonie with no middle. Wonder if it's worth a loonie?

 

[Xanikk999]

I'm beginning to think we need to abolish the penny here in the states as well.

I mean who even uses them? There are probably more of them lying in jars and dresser drawers than any actually being used in circulation.

If i get pennies though unwise, i just tend to toss them somewhere in my car.

My experience when i used to be a cashier also brings this point home, people almost never gave me pennies when giving me cash.

 

[AL_DA_GREAT]

A few decades the penny was worth something. Today they are baisically worthless. There needs to be a discussion on what went wrong.

 

[aimeeandbeatles]

A few decades the penny was worth something. Today they are baisically worthless. There needs to be a discussion on what went wrong.

Its called inflation

 

[Xanikk999]

A few decades the penny was worth something. Today they are baisically worthless. There needs to be a discussion on what went wrong.

The value of the metal they used to mint the coins basically increased while the cost to mint the count stayed the same. We lose money for every penny put into circulation now.

 

[Arakhor]

Its called inflation

So it is!

 

[GoodGame]

This would never happen in America.

I doubt it will be done very soon. They've already printed a "new" penny that has a back like Stan Lee designed it.

 

[negZero]

I doubt it will be done very soon. They've already printed a "new" penny that has a back like Stan Lee designed it.

And a vault filled with pennies that won't ever be used since theres was to many made year before. The worst part is they made the exact same amount the next year and continue to do so.

 

[SS-18 ICBM]

And nothing of value was lost.

 

[classical_hero]

50 cent coins sound like they'd be useful.. but no machines out there will take them.

50 cents are very useful here and every vending machine takes them.

I do find it funny how other people are agonising over this situation and yet we have done it here and it cause no problems whatsoever.

 

[aimeeandbeatles]

Why dont they just stop making them until all the ones we have already end up wearing out? it makes sense

 

[Valka D'Ur]

Considering that I could go to the local coin shop and buy 1st-century Roman coins that aren't completely worn out, applying such a policy to modern pennies would mean we'd have them around for a long time...

 

[aimeeandbeatles]

Yes and they wouldnt have to pay to make more unless one got really rusted or something. If they like shiny pennies they can just dunk them into cola or something (ive tried it, it DOES work!)

 

[Cutlass]

The problem with that idea is that as long as prices include rounding to the nearest penny rather than rounding to the nearest nickle, businesses need the pennies in order to make change. If the government stops making them, then businesses are in trouble when they need to make change. And if they all start to round to the nickle, then they just don't need them any more.

 

[Zelig]

The problem with that idea is that as long as prices include rounding to the nearest penny rather than rounding to the nearest nickle, businesses need the pennies in order to make change. If the government stops making them, then businesses are in trouble when they need to make change. And if they all start to round to the nickle, then they just don't need them any more.

Businesses will start rounding when they're not able to get pennies at the bank. What's the problem?

 

[classical_hero]

Considering that I could go to the local coin shop and buy 1st-century Roman coins that aren't completely worn out, applying such a policy to modern pennies would mean we'd have them around for a long time...

All you need to do is make sure that they are not legal tender, then they will be out of the way. It won't remove them, but it will make them worthless for purchasing power.

I've heard that some Roman coins are so plentiful nowadays that they are worthless now than they were when the were actually legal tender back then.