Jump to content

Penny to disappear from coinage system

How do you feel about this?  

46 members have voted

  1. 1. How do you feel about this?

    • Outraged
      2
    • Sad, but it will save the country money
      9
    • Indifferent
      14
    • It should have been done long ago
      21


Recommended Posts

I'm sad to see the penny go. I complain about them when I have too many of them in my wallet, but I still like them a lot. It's true that they're not worth much in real terms. I remember feeling rich when I was a little girl and had a dime or even a quarter to take to the corner store to buy penny candy. That hasn't been possible for a long, long time. But nostalgia isn't a good enough reason to hold onto the penny, I suppose, and I don't think there's any political will to do a complete economic reset so that pennies would be valuable once again.

Share this post


Link to post
Share on other sites
Guest S**a*Q

I'm stoked :) It'll make my coin collection worth SOOOO much more now ;) Hehehe!!!!

 

Additional Comments:

...but now I'll have no way to explain the taste of semen now to people...

 

*I used to say it tastes like when you hold a handful of pennies in your hand... LOL!

Share this post


Link to post
Share on other sites

I think it's great. I was introduced to this system when travelling in Australia last year, and I found it very nice to have less change in my wallet. I hate pennies!

Share this post


Link to post
Share on other sites
I'm stoked :) It'll make my coin collection worth SOOOO much more now ;) Hehehe!!!!

 

Additional Comments:

...but now I'll have no way to explain the taste of semen now to people...

 

*I used to say it tastes like when you hold a handful of pennies in your hand... LOL!

 

We should share, mine is not bad at all. hehehe

 

uhhhhhh,I'm talking about my coin collection..... but I could also share everything else. ;)

Share this post


Link to post
Share on other sites

A penny saved is a penny earned.

 

I just put them aside when I get them and I must have 20 plus big jars of them including the not so silver nickles, dimes, quarters, loonies and toonies. With the introduction of the more durable plastic currency, I would like to see loonies and toonies disappear to lighten the load as I seem to jar them aswell. It would be interesting to roll them all up and see several thousand $ perhaps. Humm A nice hobby budget boost. :-)

Share this post


Link to post
Share on other sites

I havent accepted pennies as change for probably 5 years. I hate them! A large percent of the time unless its paper money I don't take change back at all.

Posted via Mobile Device

Share this post


Link to post
Share on other sites
I havent accepted pennies as change for probably 5 years. I hate them! A large percent of the time unless its paper money I don't take change back at all.

Posted via Mobile Device

 

Of course you're not talking about loonies and toonies :) I have hundreds of dollars of coin in my piggy bank.

Share this post


Link to post
Share on other sites

It's about time.

 

I've been leaving them at the cash register for some time. I was so happy after Timmies last increase, because the price finally came out to an even nickel.

Share this post


Link to post
Share on other sites

Oh no,what am I going to get tipped with now!! LOL,I was joking,I am glad to see them go as I always left them behind when given in change,my father would be mortified,he so strongly believed that "saving your pennies" literally, was important.

Share this post


Link to post
Share on other sites

Has anyone put that one last penney in the penny jar yet? Imagin 100 years down the road, it will be like finding a little treasure, that penny that feel into the cracks of the floor board, lol

Share this post


Link to post
Share on other sites
A penny saved is a penny earned.

 

I just put them aside when I get them and I must have 20 plus big jars of them including the not so silver nickles, dimes, quarters, loonies and toonies. With the introduction of the more durable plastic currency, I would like to see loonies and toonies disappear to lighten the load as I seem to jar them aswell. It would be interesting to roll them all up and see several thousand $ perhaps. Humm A nice hobby budget boost. :-)

 

I am sure that I am one of many, but this suggestion really works. For many years every single coin went into a jar at the end of the day and it became an annual event that one night when we would be camping we would sit at the picnic table with the camp lantern going and roll the coins. Each year the money went to a special purchase, something specific.

 

Our highest total for one year was in the area of $1400. Now THAT is an easy and fun way to save money for a rainy day.

 

On the penny issue, I feel a bit saddened I think, but also in practical terms, I think that it is wise and will just make things a little easier.

Share this post


Link to post
Share on other sites

It should have happened a long time ago - when the 1 dollar bill disappeared

 

... And it will motivate me to finally roll several jars of pennies and turn them in ... Probably for enough to by a modest bottle of wine lol

Share this post


Link to post
Share on other sites

My main concern is whether they're going to round things up or down. A few cents here and there adds up to a whole lot of money. Call me a cynic, but I think it's just another way to surreptitiously screw people out of their money.

Posted via Mobile Device

  • Like 2

Share this post


Link to post
Share on other sites
Guest S***dst***

They plan to do it this way:

 

Credit and debit will remain the same.

 

Anything ending in .x1 or .x2 will be rounded down to .x0

Anything ending in .x3 or .x4 will be raised to .x5

 

Should be interesting to see how people/businesses adapt to that.

If 500 people pay 0.02 less a day, that's 50$ a week

Say only 300 people pay 0.02 more a day, that's 30$ a week

 

Said business loses 960$ a year.

 

I'm not sure if it will stay like that or how the pricing will change but seems problematic.

 

I like the "flea market" or "small town" style WAY better (personally) they slap 5$ on a product and that's what you pay, they settle the taxes themselves from that 5$

Share this post


Link to post
Share on other sites
They plan to do it this way:

 

Credit and debit will remain the same.

 

Anything ending in .x1 or .x2 will be rounded down to .x0

Anything ending in .x3 or .x4 will be raised to .x5

 

Should be interesting to see how people/businesses adapt to that.

If 500 people pay 0.02 less a day, that's 50$ a week

Say only 300 people pay 0.02 more a day, that's 30$ a week

 

Said business loses 960$ a year.

 

I'm not sure if it will stay like that or how the pricing will change but seems problematic.

 

I like the "flea market" or "small town" style WAY better (personally) they slap 5$ on a product and that's what you pay, they settle the taxes themselves from that 5$

 

this seems like a better way of doing things, i know my parent have a store, and when they heard about this, we all had to start prepping the new system to accept all the even prices, just means alot of math thats all.

 

things like a 5$ item will be listed at 5$ but actually cost 4.42$

 

its going to be weird to get use to but we will all just adjust, i dont like the idea of rounding up or down when places lose money so i think people should just do that :)

Share this post


Link to post
Share on other sites

The abandonement of the penny is long overdue and in an ideal world should balance out in the long run, with merchnts rounding DOWN or up as the previous price would dictate. Unfortunately, greed will prevail and they will almost ALL round upward, in the end costing us more..............as usual. Just my two cents.............soon to be five I fear.

Edited by O'Cahla
TypoÃ?LOL

Share this post


Link to post
Share on other sites

I think the shiney ones are nice, but since they don't work in parking meters or pay phones, they just aren't useful. I can have 25 coins in my pocket but if 20 are pennies, I can get a ticket for not being able to put enough time in the meter to get thru the bank lineup.

 

 

I think rounding up or down, it is just going to be like how taxes have been calculated at the cash register. There is a formula of rounding up and down, it will no doubt have to work the same way. Not always up and not always down.

Share this post


Link to post
Share on other sites
...but now I'll have no way to explain the taste of semen now to people...

 

*I used to say it tastes like when you hold a handful of pennies in your hand... LOL![/color]

 

I'm still trying to decipher the logic behind this statement. Should I just give up? Is it beyond me? :p

Posted via Mobile Device

Share this post


Link to post
Share on other sites

I never really had much respect for the pennie. As kids we used to put them on the railroad tracks so the passing traing would flatten them out.

 

I will still stoop to pick up a pennie on the ground although I usually just put it in a spot where someone can see it and take it. It would be 'bad luck' to not pick it up.

Share this post


Link to post
Share on other sites

Hmmm... I suppose that pennys will be picked up more often now that they are an endangered species. I should Krazy Glue some to the sidewalk for some cheap entertainment!

Posted via Mobile Device

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...