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Polls Discuss Should the US get rid of the penny? at the General Forum; Canada Stops Making Cents as Flaherty Lets Penny Drop Canada minted its final penny today as Finance Minister Jim Flaherty ...

Poll: Should the US stop creating pennies?
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Should the US stop creating pennies?

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Old 05-05-2012, 09:11 PM
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Default Should the US get rid of the penny?
Canada Stops Making Cents as Flaherty Lets Penny Drop

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Canada minted its final penny today as Finance Minister Jim Flaherty said the coin was too expensive to produce and no longer needed for business.

“The real issue was that people weren’t using them, they were putting them in jars at home, and we were doing the same thing at my house,” Flaherty said. He spoke today at the Royal Canadian Mint in Winnipeg, Manitoba, before pushing a button that stamped the last one-cent coin.

The longest-serving finance minister in the Group of Seven nations promised in his March 29 budget to save C$11 million annually by eliminating the coin that he says costs 1.6 cents to mint. The price of copper, which is used in the penny’s production, has surged more than 330 percent since 2000.

Getting rid of the coin will have little impact on inflation, the Bank of Canada said in a May 2010 report. Electronic transactions will still be priced in cents, while retailers will round cash transactions to the nearest five-cent interval, according to the budget documents. The coin will still be usable in payments.

“It’s a bit hard to swallow,” said Francois Gendron, the 34-year veteran press operator who helped Flaherty strike the last coin. “It’s a bit of history.”

The mint has produced 35 billion pennies since it began production in 1908. Distribution of the coin will end later this year. Pennies have been made of copper-plated zinc and copper- plated steel since 1997. The last penny will go to the country’s currency museum in Ottawa.
So Canada waves bye-bye to the penny...Should the US also?...

C'mon...Give us your two cents...
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Old 05-05-2012, 10:07 PM
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Default Re: Should the US get rid of the penny?
I think they should discontinue them. They're useless.
You can't use them on the bus, in a vending machine, or anything else.
They're always scattered all over the place like garbage, and they're a choking hazard for babies and small children (as are other coins, but people don't tend to scatter other types of coins around nearly so flagrantly).
Get rid of them, sez I.
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Old 05-05-2012, 10:10 PM
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Default Re: Should the US get rid of the penny?
The penny is pretty useless. I vote to get rid of them.
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Old 05-05-2012, 10:49 PM
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Default Re: Should the US get rid of the penny?
Send them to me
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Old 05-06-2012, 07:06 AM
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Default Re: Should the US get rid of the penny?
considering our penny's costs 2.4 cents to make, HELL YES get rid of them.

Obama wants cheaper pennies and nickels - Feb. 15, 2012
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Old 05-06-2012, 09:30 AM
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Default Re: Should the US get rid of the penny?
Followed by the paper dollar.
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Old 05-06-2012, 10:05 AM
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Default Re: Should the US get rid of the penny?
Follow Canada and get rid of paper money below $5 (at least I think it's $5. Been a while since I've been there)
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Old 05-06-2012, 11:15 AM
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Default Re: Should the US get rid of the penny?
Quote:
Originally Posted by 1069 View Post
I think they should discontinue them. They're useless.
I agree...


Less is more.....
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Old 05-06-2012, 04:36 PM
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Default Re: Should the US get rid of the penny?
Who is the one person that voted to keep they penny?

I wonder if pennies are worth more than than the monetary value if sold as scrap copper.
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Old 05-06-2012, 05:12 PM
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Default Re: Should the US get rid of the penny?
they did here a few years ago!
Price of Copper became higher than what a Penny was worth!
Of course,all the Prices were rounded up to the next Five Cents!
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