My Cents is That I Give Up

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My Cents is That I Give Up
Posted by SLRT on Fri Dec 26 12:23:34 2014 fiogf49gjkf0d Pennies have so little value that they are becoming a pain to handle and get rid of. I still dislike the idea that a nickel will be the smallest denomination and then there are the "penny charities." The thread about $50 bills in ATMs reminded me that a $50 bill now is worth about as much a fin in the '50s. I would prefer a 10:1 revaluing of currency; I remember when Britain went to decimal--now that was a mind****, but they managed it. We could even reintroduce the half-cent to take the place of the nickel. I still stand firm on dollar coins. Mostly the vending industry likes them and there are plenty for that purpose. I keep a little tube of them in my office because the vending machine gives and takes them.
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Re: My Cents is That I Give Up
Posted by AlM* on Fri Dec 26 12:31:23 2014, in response to My Cents is That I Give Up, posted by SLRT on Fri Dec 26 12:23:34 2014.* fiogf49gjkf0d Congress certainly has the right to make the nickel the smallest coin, with rounding of after-tax prices. They can also stop printing $1 bills. As long as $1 coins are a different color from a quarter, it's easy to distinguish them. The problem is that no one is going to vote to re-elect their Congressperson because they voted to abolish pennies and dollar bills. But enough people will vote against them for that reason that it's a net loss situation. So there aren't enough people in Congress with the gumption to do it.
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Re: My Cents is That I Give Up
Posted by SLRT* on Fri Dec 26 12:36:13 2014, in response to Re: My Cents is That I Give Up, posted by AlM on Fri Dec 26 12:31:23 2014.* fiogf49gjkf0d Yet I agree with President Obama's reality check to stop minting dollar coins (except for collectors) until the supply is used up. There are more than a billion of the beasts in storage.
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Re: My Cents is That I Give Up
Posted by AlM* on Fri Dec 26 12:42:54 2014, in response to Re: My Cents is That I Give Up, posted by SLRT on Fri Dec 26 12:36:13 2014.* fiogf49gjkf0d Until the government stops printing dollar bills, there is no point in minting more dollar coins.
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Re: My Cents is That I Give Up
Posted by SLRT* on Fri Dec 26 12:56:44 2014, in response to Re: My Cents is That I Give Up, posted by AlM on Fri Dec 26 12:42:54 2014.* fiogf49gjkf0d Exactly. The government hasn't tried giving them a cuter name, like "Loonies" and "Twonies" in Canada. Yet.
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Re: My Cents is That I Give Up
Posted by AlM* on Fri Dec 26 13:08:07 2014, in response to Re: My Cents is That I Give Up, posted by SLRT on Fri Dec 26 12:56:44 2014.* fiogf49gjkf0d Since Sacagawea is on many of them, maybe they could call them "Redskins." (That's a joke.)
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Re: My Cents is That I Give Up
Posted by SLRT* on Fri Dec 26 13:10:31 2014, in response to Re: My Cents is That I Give Up, posted by AlM on Fri Dec 26 13:08:07 2014.* fiogf49gjkf0d Duck! Incoming!!
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Re: My Cents is That I Give Up
Posted by Olog-hai* on Fri Dec 26 19:20:38 2014, in response to My Cents is That I Give Up, posted by SLRT on Fri Dec 26 12:23:34 2014.* fiogf49gjkf0d Pennies have so little value Thank the federal reserve. They destroyed its buying power. Back in 1913 when the Fed first came to be, a penny had the same buying power as 24¢ in 2014. (And the old half-cent coin's buying power is equivalent to 14¢ in 2014 dollars.)
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Re: My Cents is That I Give Up
Posted by Spider-Pig* on Fri Dec 26 19:24:17 2014, in response to Re: My Cents is That I Give Up, posted by Olog-hai on Fri Dec 26 19:20:38 2014.* fiogf49gjkf0d LOL!
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Re: My Cents is That I Give Up
Posted by AlM* on Fri Dec 26 19:27:13 2014, in response to Re: My Cents is That I Give Up, posted by Spider-Pig on Fri Dec 26 19:24:17 2014.* fiogf49gjkf0d IAWTP.
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Re: My Cents is That I Give Up
Posted by pd11604* on Fri Dec 26 20:14:47 2014, in response to Re: My Cents is That I Give Up, posted by AlM on Fri Dec 26 13:08:07 2014.* fiogf49gjkf0d soon those coins won't be worth one red cent
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Re: My Cents is That I Give Up
Posted by SLRT* on Fri Dec 26 20:27:11 2014, in response to Re: My Cents is That I Give Up, posted by pd11604 on Fri Dec 26 20:14:47 2014.* fiogf49gjkf0d They'll still be $1.
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Re: My Cents is That I Give Up
Posted by gp38/r42 chris* on Sat Dec 27 08:12:15 2014, in response to Re: My Cents is That I Give Up, posted by SLRT on Fri Dec 26 12:36:13 2014.* fiogf49gjkf0d Its the smartest thing Obama did....no one wants dollar coins anyway. Miserable things.
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Re: My Cents is That I Give Up
Posted by Dan Lawrence* on Mon Jan 26 21:40:17 2015, in response to Re: My Cents is That I Give Up, posted by gp38/r42 chris on Sat Dec 27 08:12:15 2014.* fiogf49gjkf0d Funny!! I found 1 in our attic!!!!!!!!! From 1911!!!
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