Yup in Canada we won't be having them any more. Basically it comes down to the fact it cost more to make then what they are worth.
Yeah, rounding off to the nearest five cents is done in other countries and works just fine. It costs 2.41 cents to make a penny. Tell me how that makes sense.
Pennies seem completely irrelevant, so yes.
**** yeah - there not worth the inconvenience - we don't do sales tax in the VI - so on the island of st john there are no pennies - the grocery store rounds down the total purchase to the nearest nickel - don't know why anyone bothers with the useless little things anymore....
No, how else am I supposed to get lucky?
we are in Canada - I think in the beginning of next year
Yes I think the penny has seen it's day. Many other countries abolished their lowest coin to save tons of money. I guess is would mean we have to say a nickel for your thoughts after that.
In time. Then everything will be to the dime. As inflation occurs, nothing will cost a penny. Under the Obama mis-administration, we may be looking at 1 trillion for a loaf of bread so this discussion will be irrelevant.
In a word........NO!
No, we'll get ripped off, in a mass Superman 3/Office Space scheme. Merchants'll round up to the nearest .05, that adds up.
They can always make it a law to round it down to the nearest nickel if it's one or two cents and up if it's three or four.
That's not going to happen
Should have been abolished once the penny gum machines disappeared. I saw one the other day that wanted .50 for a piece of gum!!!
Save them up an cash them for scrap.
What will happen to prices like $9.99 or $199.99? What about the "take a penny, leave a penny" dish? No way, I say keep the pennies.
They round it off to the nearest nickel. You would see nickel dishes show up.
What's the sense in pricing things to $19.99 anyway? I never understood that, except that a salesman can proclaim "Less than $20."
That is why. You see 19 and think it is cheaper. The gas pumps are 99 9/10. At least $19.99 is a whole penny! Gas is a tenth of one!
I don't think it's cheaper. I understand their rhetoric.
The thing about $19.99 is that you wind up paying about $21 anyway after taxes.
I kept hearing rumors that they were going to abolish it. Now they've come out with a newly designed one. Go figure.
Liberals do not want to lose government jobs. It would save us a ton of money.
No new one but over the years, I've heard several times that the government was doing away with the penny. Yet it hangs on and has been redesigned.
Yes...it would save millions of dollars a year...and if you really want to help, start using dollar coins
Actually no. Dollar coins cost a lot more to make than dollar bills. If you really want to save money, go to a cashless society. Everyone has cards. However, it also means the government has your money.
just for the record, I think you're right, except for the fact that dollar coins are more expensive to make, but about a hundred times more durable.
Oh no, don't get rid of the penny. After all when my niece was about 3 years old she told me that if you save enough pennies eventually you will have a million dollars.
Of course not. How else would I augment my paycheck? They may seem useless, but over time they add up (picking them up is non-taxable income). Plus, bending over to pick them up is exercise. You know the old saying... "see a penny and let it lay, the fatter you'll get day by day".
yes do away with it ..
Yes, abolish the penny.
UK here and I say no. I save all my pennies and 2 penny coins, comes in real handy at times. There are machines where you can go and cash them up, takes a small percentage but then you get it back in notes and change. Don't miss them when saving and while it does take time to get a good amount real handy in an emergency. I pick them up if I see them on the road wherever.
Remember see a penny pick it up all the day you'll have good luck :)
There's been talk of replacing the one dollar bill with coins as well simply to save money on replacing all the paper ones, but those kinds of changes would require new cash register drawers everywhere. What we really need to do is convert to digital currency and the technology do so is making rapid progress.