Getting Rid of the Penny

Well ever so often we hear the same thing fr4om USA but hasn't happened yet... It takes a few to get anything... I remember when you could get to fire-balls with a penny! Do you remember them? xoxoxoxoxo

I wouldn't mind at all if they got rid of the penny. but they'd have to change all those prices that end with .99, which is about every price!!

They have talked about this here in the states as well and I for one don't have a problem with it. The penny costs more to make then it is actually worth. I have no problem with everything being rounded to the nickle. That would work for me. The penny might still be in circulation but it would eventually fade away. It's just like at one time they had half pennies. We have no use for them now but at one time they did. The penny is the same way now.

here in australia they got rid of our one and two cent pieces years ago.so everything is rounded up or down to the five or ten cent.for example shopping total cost $9.98 would be $10.00 or $9.92 would be $9.90.so i guess you kinda get use to it after a while.what i can remember people were not too pleased when they decided to do it here.cheers sue

if they take away the penny how will change be made? They could start making the penny out of a different metal instead to make the cost cheaper. And pennies do add up. I always save my loose change. My only quarm about the penny : they make your hands smell, lol.

In South Africa, we got rid of our 1c and 2c coins a while ago for the same reasons: they cost too much to make and they are too small to be significant anymore. Now our smallest coin is 5c. At shops what they generally do is that the amount you need to pay is rounded down to the nearest 5c. It really doesn't make much of a difference considering how much a cent is worth.

I am opposed to the idea of getting rid of the penny. I don't care if it costs more to produce them. The government spends lots of money on stuff that is not cost effective. Another fact to consider is that everything would be a little more expensive. O.k. if an item is 19.99 it would then be $ 20. The tax would be another 15% in Ontario so that would be $3.00. In this case the tax at 19.99 would be 2.9985 also rounded to $ 3.00. What about large amounts? Would we loose a few pennies because of rounding? The other use for pennies is to pay the pennies on a purchase. I always do. If something costs 2.08 and I have a five dollar bill I give them 5.08 and my change is a loony ($1 coin) and a toony ($2 coin). No extra change pennies to lug around. I also pick up pennies when I find them on the street. I have a jar full. Sometimes I roll them and take them to the bank next time I have to go there. There is usually 2 or 3 dollars in rolled pennies.

never though to much of a penny any more I just throw them in a can when I get to many in purse. and they are good for those extra pennies they add on your tax when ya buy something. would be funny NOT to see a penny. really dont know if they should or shoulnt get rid of it.

I don't think they should. I mean you can always take your loose change to any of those cashing machines and get bills for your money if you have enough. You can even roll them up if you have enough pennies and patience. I saved and was able to get 30 dollars out of my money, not a bad deal, from change that's not worth anything. My question is if they get rid of the penny, and your shopping and your change back is say 31 cents. Your only going to get 30 cents back? I wouldn't like that, because that 1 penny belongs to me and I would want it. When your trying to save money and get rid of debt, every penny counts.

I notice that my bill for batteries and Cds had .49 at the end, and that one for my flash drive was .48 at the end, and when we go grocery shopping, we hardly get the groceries to equal $70.05, $80.10, or in the five or ten digit range, so we do need the pennies. Will they have a saw and cut the nickels into five pieces and then take four out if the item is 4.04 including tax? Are they going to up the prices to 5 cents? Aha that is what they plan to do! They plan to raise all the prices so that the small is 5 cents.

I keep all my pennies and roll them up to take back to the bank. I currently have over $22 in coins that will go in my son's account when I take them to the bank. They add up fast. And I don't think that getting rid of the penny is a good idea. It'll likely mean that every thing gets rounded up to the next nickel, and I don't know about you, but I'd like to keep what little money I have.

The U.S. has mentioned getting rid of the penny both at the beginning of this year and in 2007. I have heard that it now costs about 2 cents to make a penny. I have lots of pennies, I have been saving them for a long time. I am thinking that the copper is worth more then the penny, maybe that is why they want to get rid of them. Karen

Considering it costs us more to make a penny than it is even worth; I can see why they want to get rid of it. I pick up pennies off the ground and I save the pennies to roll and cash in later. I have heard that saving lots of pennies is bad because of the cost to make new ones to enter circulation is so high.

I am from UK and if they got rid of our penny the next coin is a twopenny so it would automatically put evrything up by a penny in cost because in this day and age people most certainly wouldn't take the price of an item down a penny would they so something costing a penny would become two pennies. People love to collect pennies and save them up and when they have enough exchange for a larger amount so if it were me I would be saying keep the penny. We have experienced this hidden price rise in UK when we had 1/2p pence which they stopped and prices increased. The only thing that desn't increase these days are wages or benefits Eh! Ellie :D

I don't think we should get rid of the Penny. The economy is going up and no you can't buy much with a penny now days but then their are the taxes on things that require a penny unless they are going to raise the taxes again on things. I think it a shame really that they are even thinking this. because as I have always said why toss the penny aside it adds up to big money when saved. I hope they don't do away with the penny for the children if not for anyone else. I save pennies and so does my sister then when we have enough saved we go do something special with each other a sisters day out. She usually ends up with McDonalds and we han at the park for awhile and she just loves it. I know we could saves nickels just a easy and faster maybe but I'm partial to the penny since it seems it is hte one thing hardly anyone wants a bunch of..well except me.

they've actually been saying that for several yrs now..I doubt they will though..as much as you can't buy anything for a penny these days (and realistically speaking havent been able to for MANY yrs) the penny still comes in handy..

I think it is a good idea in a way. I have some Canadian pennies saved up. Our sales tax in the U.S. is 6 cents on every dollar so we have to have the pennies to go along with the nickel. There are many times that we need the penny for change, espcially with our sales tax and the cost of stamps too. Stamps are .42 cents each here and we have to use two pennies to cover it.

Like you said, we need the penny to make change. I look at it like this, pennies are U.S currency and spendable just like any other coin. My roommate gives me her pennies all the time, as if they are not money at all. I have no problem with that.

Pennies are used for change. If the penny were to be discontinued inflation would go up. It might not seem much at first but it all adds up.

I think we still need them for change. And even though it is not worth much, Does it not make you feel good to find a penny? I think the only thing that you can buy with a penny nowadays is a Ford gumball from the penny machine. All the other ones went up to a quarter. Oh yeah, you can always try your luck on the penny machines at the casino with a penny.