DOGE takes aim at the penny I say get rid of the penny, if it is 1-5 cents go back to 0 6-9 go up to a dime.
Big fan. Might as well do the nickle and dime while we're at it. I shit talked DOGE but if they're gonna knock down some low hanging fruit I'm all about it.
agreed. I carry a phone with a holder 4 my license & CC. I NEVER pay anything with cash. I do try to remember to stuff a wad of 1s in my pocket for a night out, so I can tip a buck a beer/drink to avoid the 20,25,30% tip options. edit. I used to have to take cash to the reptile store as they don't accept cash for less than $5. mice 4 my baby's snake were about $3. We put Ruby up for adoption, so that is no longer an issue.
Cash is a tiny part of the economy today sitting at about 18%. Silly to round when 8 of ten people use a card or Apple Pay.
When I lived in Germany they stopped the use if pennies due to the cost. You could pay with pennies but otherwise they would round to the nearest nickel
If they just had everyone turn their jars of pennies in at the bank, have the banks give them 1 1/2 cents for every penny, they wouldn't need to mint pennies for 30 years. The government would basically be buying the pennies for half the cost of production.
What about nickels? Only matters if someone is paying cash, which seems pretty rare. Could still sell things in 1 cent increments for debit/credit/check, but would up/down cash transactions to the nearest nickel.
That has to be a marketing thing. But so dumb considering gas is basically inelastic. Guess is Wawa is going to try and show a penny less when it is not that RaceTrac has to do the same…
Or... we could make the pennies in a Right-To-Work state... completely automated. We need to look at all the options before we do something like getting rid of the penny. One more thing to consider is the value will rise with less inflation. I'm sure our inflation is "transitory."
Back in 2007 I sorted my pennies, kept the copper ones with my junk silver coins. Not much, but might be able to barter with beside guns/ammo and booze in a dystopia wasteland.
Legislation for this has been introduced for decades. This was literally a topic during a mock Congress when I was in HS. FTR, the HSers passed it. I won’t say when that was other than it started with a “1.” President Musk should just pay off that contractor in Tennessee that makes them. “Peanuts” to him, as his spokesperson said the other day.
I’ve a bunch of “wheat” pennies I saved back in the day and good number of Indian head pennies (and three large cent coins) passed down through the family. One day I need to see what they are worth.
