questionsdo you think pennies should be removed from…

vote-for29vote-against
vote-for8vote-against

Some reading for anyone who is bored:
http://www.bbc.co.uk/news/magazine-18586854

Some interesting comments on the subject anyway.

vote-for7vote-against

Personally, I'm banking on the two-cent piece making a comeback.

vote-for10vote-against

I thought pennies were worthless until I moved to China for a while.

I'm not saying that their currency isn't strong (it's doing pretty well compared to some countries). What struck me is that they still hold onto small coins, just started minting them differently.

If you compared it directly to our system of money, comparing USD to CNY: it's 1:6.36, or basically, 1 CNY is worth around 16 cents in dollars.

China has three denominations of coins. The yuan, the jiao, and the fen.
The 1 yuan piece is the one worth about 16 cents. The others are valued, relative to the yuan (like our "cent" pieces are all relative to the dollar).
Jiao: they come in 1 and 5 jiao brass pieces (0.1 and 0.5 yuan in value, respectively).
Fen: they come in 1, 2 and 5 fen aluminum pieces (0.01, 0.02 and 0.05 yuan in value, respectively).
Basically, if you looked at the actual value, in dollar terms, of a 1 fen piece, its about $0.0016, yet they still keep it, even tho you can't buy anything with it, alone.

vote-for9vote-against

What would we put in our penny jars then?

vote-for15vote-against

On a related note, who pays for things with cash anymore?

I do! You should see the occasional dirty looks you get when the cashier has to count back change.

That being said, I was an early adopter into using a credit card to pay for everything, it was faster. Swipe and run. I prefer getting paid in cash, that is the reason I have it.

What gets even better reaction then paying cash is paying with cash and coins...

If your item cost, for example $4.28 and you give the cashier a $5 bill and 3 pennies. They do not know what to do. I have had some give me back the pennies.

In response:
Sometimes
I have explained why I gave them the change and insisted they take the transaction.
Others
I roll my eyes as they give me the 3 pennies and 10 seconds later give me 2 pennies, 2 dimes and 2 quarters and mumble now I have 5 pennies in my pocket.
Next time I think I will give them the change 5 pennies 2 dimes and have them give me a quarter.

vote-for5vote-against

@gigi889: I know, right? I think if everyone just took their penny jars to the bank, we wouldn't need to make any new pennies for at least 10 years. People hoard pennies like nobody's business.

vote-for4vote-against

I'd be happy to see the pennies and nickels go to reduce minting waste.

vote-for4vote-against

I read an article once about people who are hoarding pennies because the amount of copper (I think it was the copper, it might have been zinc) in them is worth more than 1 cent. But, they are keeping them until they are discontinued because it would be illegal to melt them down while they are still legal tender (or some similar reason).

vote-for14vote-against

@caffeine_dude:

Thank god you wrote that, I was beginning to feel like I was the only person experiencing this problem. The cashiers cannot count, and most that do count, count the wrong way (anyone who ever worked a register knows how count money back). I insist that they take my change and bills and just punch it into the keypad. They look like magic just happened when the number comes out to .25, .50 etc.

I don't want the to get rid of pennies. At the end of everyday I take all my pocket change to my jars. I save it up and at the end of the (rolling year) year, I spend it on stupid things while on vacation.

vote-for6vote-against

@benyust2 - even after they leave production, they will remain legal tender. They would just be slowly taken out of circulation. I have a $1 Silver Certificate (from back when our money was still backed by real gold and not imaginary numbers ). Even though they are not in production anymore, I can still use it if I wanted.

They all stay legal tender... it's just that they eventually get to a point where they're worth more to collectors than they their face value.

vote-for3vote-against

I do think that they should be removed. As TFA points out, a majority of the pennies are immediatly removed from circulation upon issue. They are sitting in jars and stuff all over the country. It is a huge waste of money.

That said, I try and keep mine in circulation. When I get my soda fix my refill comes to $1.06, I always try and bring a penny and a nickle or dime to keep change even. Another place it is $1.27, I get incredibly confused looks when I give them a 5 and 2 pennies.

vote-for2vote-against

Ah, I don't mind them. I save all my change and every few months or so I roll it and have about $50 extra to spend, or pay a bill with. I'm the one you'll see picking a penny up off the ground! They add up fast enough.

And, I agree with the statement that cashiers cannot count change back. When I still worked in retail, all the other younger cashiers couldn't count change back to save their life! If the computer was down, and they couldn't use a calculator, they literally could not count back the customers change. For some reason, I always ended up being the one stuck on the register when they were down! So sad, really. And, to this day, if I see a young cashier, and I'm paying in cash, I love to pull out the change and see if they can figure it out!

vote-for2vote-against

Keep'em, you can use them as Vampire bait.

vote-for2vote-against

yes and dimes and nickels and quarters and cash. Long live plastic !!!!

Amen to the cashiers being able to handle cash or even worse checks !!!!

vote-for1vote-against

We don't have to copy everything those hosers up north do.

vote-for1vote-against

No way! What we would do when we blow a fuse?