i wouldn’t be so sure about this. i still have plenty of pennies and plenty of stamps to put on those pennies.
Pennilesspennyless bastards!Obligatory CGP Grey
Let’s kill the nickel and dime, while we’re at it
Funny thing.
A few days ago I looked through my pockets and found a 1935 penny. Copper pennies were collected and melted down in WW2; the pennies from that era were steel.
It wasn’t worth a lot but it was an interesting find. Back in the day, you could buy a cigarette or a newspaper with that penny. I wondered how far it had traveled, and what they’d used it for.
1943 was the one year they made the zinc plated steel pennies. They’ve been various ratios of copper before and after (from 88% to 97%) until 1982, when they turned to 97.5% zinc with a 2.5% copper plating.
Found the numismatist
…numismatist…
Bless you!
Wash it.
https://en.wikipedia.org/wiki/Antimicrobial_properties_of_copper
See, you learned something.
I’m gonna shit on a penny and put it in your hand and see what link you send me
Yeah, I remember your mom saying you really liked to shit on things and carry them around.
Weird that you like to talk about me when you fuck her.
Funny that you assume I’d sleep with her.
She likes to talk while she cleans my toilet and I want to make sure she doesn’t try to get drunk drinking the Listerine.
I’m glad that bitch is scrubbing toilets in hell.
Lmfao. This is great
I knew what this would be before I clicked
That final penny struck is going to sell for a shit ton of money.
I’ll buy it for two pennies. That’s 100% profit for the seller.
I’ll believe it when I stop seeing pennies.
Just close your eyes.
They’re still there, rotating in my mind.
Does that mean we are now allwed to make “mint” pennies ourselves?
It’s about damned time. We honestly should have nothing smaller than quarters right now, going by the same logic as discontinuing the half-penny forever ago (which had more equivalent purchasing power than the dime does now).
Good, while we’re at it we should redecimalize. A coin that can’t pay for a significant portion of something is worthless. People used to buy snacks with coins, and like, thats where they thrive. Coins are more expensive than bills but they can change hands a lot more times. A dime for a soda or a cheap snack, maybe a nickel if it’s a good deal on a bag of chips is about right.
Like, this isn’t even a monetary policy failure, it’s just something that should happen every century or two in an inflationary economy with a 5% target.
The rule should be “if you pay with it at a restaurant it should be a coin” because it represents a daily use rather than weekly or monthly and much higher levels of wear and tear.
If not for credit cards we’d probably need $10 coins.
Zimbabwe has entered the chat
Those $100,000,000,000,000 bills are fire!
Given the reason for finally stopping, the penny will be around a long time still, since the ones in circulation aren’t used nearly as much as before credit and debit cards.
What’s going to be funny is eventually, when people have less of these, the penny will literally no longer hold it’s actual value and somebody will pay millions to get some pile of “antique” currency. What a fecking mad world we live in.
Bought something the other day and would have 4 cents in change. Kid behind the counter asked if I wanted my pennies and I was just like “Why? They’re phasing them out.”
Well I guess it’s time to start making ass nickels.
Abolishing the USD cent comes way too late.
Was abolishing the half penny in 1857 a good idea? If so, then abolishing the quarter would be a good idea today. It has about as much buying power as the half penny did in 1857.
Yeah, but honestly getting rid of coins is an admission that inflation is high relative to 40-50 years ago. When pretty much every government wants to keep that fact out of the public consciousness. Especially the current US government who wants to both claim we don’t have inflation at all, and are the ones getting rid of the penny.
I’ve been saying we should drop the penny for almost 2 decades, but I still kind of look at getting rid of the penny as a sign of our current government’s abysmal handling of inflation.
So I don’t know the term for it, maybe it’s just propaganda, but a quarter feels like it has value.
The penny however doesn’t have that feeling. Vending machines often say “No Pennies” and toll booths say “No Pennies”, even though the Penny exists everyone sorta already agreed the Penny wasn’t worth the hassle.
I think you could probably convince people the same is true for the nickel. Although eliminating just the nickel is tricky since you’d keep the dime and quarter and that divides weirdly. So you should also remove the dime but that now really starts to feel like it had value.
But the quarter. That would be a hard sell. You’re basically eliminating all coins at that point. Unless you plan on making the half dollar wayyy more popular.
When we got rid of the half penny it was worth more than what dimes are worth now. Quarters are the only useful coin. We should be rounding all transactions to the nearest quarter.
Logically I completely agree. I just don’t think you could convince the US as a whole that’s the way to go.
Should just have dimes.
$1.1 $1.2 $1.3
There’s no reason to break our currency into thousandths. Hardly a reason to break it into hundredths.
Could keep quarters to keep hundredths
Transactions already need a nickel to do 5 cents. So requiring a quarter to do 5 cents isn’t crazy.
Say you have to pay $1.05
Dollar and 3 dimes, quarter in change.
$1.15
Dollar and a quarter, dime in change.
But I think just dimes are needed
Just dimes would probably work logically, but it would feel too weird. If you’re going just dimes, you probably just want to go all in and say no coins.
50 cent piece would be the way to go. Should then also really push $1 coins, and add in a $2 and $5 coin, although I don’t know if Americans would realistically use them. Coins are much more durable than paper currency though, which would save a lot of money long term
I mean the dollar coin never caught on. I know we still printed the dollar bill, so maybe you could force it by halting the dollar bill. But overall I don’t think new coins are the answer.
Based on one source, Cash is only ~20% of transactions. Maybe it will always be 20% or maybe it will be smaller and smaller as time goes on.
I think you’re better off eliminating current coins.
Paper dollars make no sense either.
I feel like we should be normalizing $1, $2, and $5 coins at this point. I know $1 coins exist, but nobody uses them. If I drop a $1 coin in a tip jar, people say sarcastically “thanks, that 25 cents will go a long way” because they think it’s a quarter.
Canada has $1 and $2 coins, but it’s all irrelevant as 99% of transactions are digital tap cards.
Canada was a decade ahead of the US when it came to implementing tap. It’ll take the US a long while to get to the same level of universal acceptance, starting from so far behind
Soon:
A: “Penny for your thoughts” B: “Lol, okay Gen Z”
What a boomerism
I’d give my two cents but I guess they’re just gonna go up in collector value possibly
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