pennies?
By ozkid92
@ozkid92 (549)
United States
August 26, 2006 3:54pm CST
should we still have pennies in the united states? okay get this: in Australia, they include the tax in with the price of the object you are buying. so instead of 19.95, something would just be 19$ or 20$. they have no sales tax (not extra anyway, like the US)
if we did that we would not have to have pennies anymore, saving us billions.
what do you think of this idea?
3 people like this
22 responses
@aubry1 (267)
• United States
2 Sep 06
This is a perfect idea. I cannot stand going into a store and the total comes to 10.01. Then I end having to break a dollar and get back all that change just because I don't have a penny on me. It's a pain but I do have to say that when I shop I save all of my change instead of turning around and using it. I do this all year and by the end of the year I usually have around a thousand dollars saved in change to cash in to use towards christmas.
2 people like this
@Fargus699 (54)
• United States
23 Nov 06
See you need the penny as much as I do.
1 person likes this
@Victoria7 (1240)
• Spain
26 Aug 06
I think this is the best idea I´ve heard in ages. I mean WHAT IS THE POINT of selling something for 9.99 instead of 10!!!? None at all. Just a way of the sellers trying to make something appear cheaper. No one likes fiddly coins. Paper money is so much easier. Well I suppose you need coins for vending machines etc but then again there isn´t much cheaper than a dollar or a euro is there? Ok so things would get rounded up but I´d rather pay 5 dollars for something than pay 4.99 & have to wait around for a cent change!
@Fargus699 (54)
• United States
23 Nov 06
Don't wait for the penny change, say "keep the change and here is a dollar for your great service."
@ozkid92 (549)
• United States
22 Jun 07
agree with both of you! but ive given target all bills and instead of getting 4 cents back, i said keep it. aparently its company policy taht they cannot keep money without giving me something for it! hm. if you dont want extra money, suit yourself! haha.
@RideCuStomy2k (917)
• United States
2 Sep 06
Havent you seen those virgin mobile commercials? Bring the power back to penny......Well yeah see everyone throws away or disregards pennies.
1 person likes this
@BELMCstar (1341)
• Australia
26 Sep 06
It is funny. In Australia, we still have things "on special" for $9.99. If we buy one thing, it rounds up to $10.00, but if we buy a few things, it rounds down.
Ie. if it ends in 1c or 2c, it rounds down to the nearest 5. If it ends in 3c or 4c, it rounds up to the nearest 5c.
If it ends in 6c or 7c, it rounds down to the nearest 5c, but if it ends in 8c or 9c it rounds to nearest 10c
1 person likes this
@Fargus699 (54)
• United States
23 Nov 06
Yes down with sales tax, save billions, but don't take away my pennies.
1 person likes this
@music2myears (1802)
• United States
16 Dec 06
in my opinion, yes we should. The U.s. needs to keep the pennies.
@catbox0 (175)
• United States
9 Jan 07
Although the penny has little purchasing power, I'd hate to get rid of it. The penny was the first coin the mint ever approved for minting. Also, a penny currently costs the mint about 1.3 cents to mint and they make about a billion a year for a loss of 300 million dollars annually. Although that may seem like a lot of money, it really isn't since the national debt is trillions of dollars and the fact that coins such as the State Quarters cost about 6 cents to make and many, many people try to save all 50 which gives the mint a 19 cent profit 50 times ($9.50 per person). This money, called seniorage, makes the mint a ton of money because if even 1/10 of the 300 million Americans saved a set the mint would make 285 million dollars in seniorage. To further their profits, the mint is now (as of 2007) issuing Golden Dollars with former U.S. Presidents on the coin. With about 45 different presidents at a profit of $.93 per coin, a complete set would create at least $41.85 in profit. Again, if 30 million people were to collect these coins, the profit would be 1.256 billion dollars. Lastly, the mint makes a bunch of other products they sell such as mint and proof sets where they make a rather substantial profit.
In short, the penny (or more precisely cent, the U.S. mint has never made a coin called a "penny") is almost worthless but it's a part of American history and should still be minted perhaps in a different, cheaper metal.
@inkedmama1111 (824)
• United States
23 Nov 06
I don't think we really need pennies anymore! But I don't think it would actually save us money if they built the tax in! They would just add the tax like they do in ASutralia and put it on the price tag, just because there is no tax at the end with your bill does not mean you are not paying taxes =)