Only in America would we be stupid enough to print money that is worth half of what it cost us to make it

Great, expect prices to go up even more because every retailer will raise their prices up to either 5 or 10 cents.

And I don't think a president has the authority to stop the production of specific coins. Congress is who tells the mint what to produce and how much.

Rapier108 said:

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Great, expect prices to go up even more because very retailer will raise their prices up to either 5 or 10 cents.

And I don't think a president has the authority to stop the production of specific coins. Congress is who tells the mint what to produce and how much.

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Nonsense

I've got probably 100 pounds of pennies in big jugs in the garage if anybody needs any.

A penny not made is two pennies saved.

Now it's gonna cost 5x more to finish my floors with nickels

Finally!!!

Rapier108 said:

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Great, expect prices to go up even more because very retailer will raise their prices up to either 5 or 10 cents.

And I don't think a president has the authority to stop the production of specific coins. Congress is who tells the mint what to produce and how much.

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Yes, an increase of a whole penny. Lol. Most prices end in 9.

PA24 said:

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Might as well get rid of all coins…just round up or down. Change is a hassle.

So…

A penny for your thoughts?

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Back to being a Trumper again?

Rapier108 said:

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Great, expect prices to go up even more because very retailer will raise their prices up to either 5 or 10 cents.

And I don't think a president has the authority to stop the production of specific coins. Congress is who tells the mint what to produce and how much.

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^^broke buster^^

Extra 4 cents per purchase? Lol

Bring back the gold standard!

Gnome Sayin said:

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Now it's gonna cost 5x more to finish my floors with nickels

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You want to buy some pennies?

Rockdoc said:

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I've got probably 100 pounds of pennies in big jugs in the garage if anybody needs any.

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Since it takes 181 pennies to make a pound, that's $181 in those jugs. I'll take em!

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Rockdoc said:

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I've got probably 100 pounds of pennies in big jugs in the garage if anybody needs any.

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S.A. Aggie said:

Since it takes 181 pennies to make a pound, that's $181 in those jugs. I'll take em!

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Certainly, just send me $200 for shipping and I'll get them right out. Just remember they're worth $362. Quite a bargain!

The penny just became more valuable than ever on the basis of scarcity.

Bitcoin? Finite supply, but can't touch it.

Penny? Finite supply, can touch it.

Stack pennies!

Rapier108 said:

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Great, expect prices to go up even more because every retailer will raise their prices up to either 5 or 10 cents.

And I don't think a president has the authority to stop the production of specific coins. Congress is who tells the mint what to produce and how much.

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It's an idea long overdue. The only place anyone uses pennies is putting them in the free change dispenser by the cash register or in the spare change jar in their closet. They are a complete waste of resources at this point.

Round everything up or down to the nearest five cents and call it a day.

Your people are the reason for 40% price inflation under Crooked Joe. An extra nickel or dime will be a refreshing improvement.

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Rapier108 said:

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Great, expect prices to go up even more because every retailer will raise their prices up to either 5 or 10 cents.

And I don't think a president has the authority to stop the production of specific coins. Congress is who tells the mint what to produce and how much.

---

Ag87H2O said:

It's an idea long overdue. The only place anyone uses pennies is putting them in the free change dispenser by the cash register or in the spare change jar in their closet. They are a complete waste of resources at this point.

Round everything up or down to the nearest five cents and call it a day.

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This should have been done 20 years ago.

The loss of the penny isn't a big deal, but I am still pissed off that they did away with the $10,000 bill. Back in the day a fella could stuff a dozen of those in his wallet or money clip and have enough in his pocket to buy most anything.

lol this guy worries about 5 cent inflation when his team was doubling fuel and groceries, screwing up supply chains, and forgetting the difference between males and females? You can't make this up. There will be a little pain to clean up all the free gifting of my money to their voters via forced taxation. Let the pain start it's time to wean some lazy jack legs off my payroll. If my teets swell a little so be it the obamas are starting to pull me down. Time this country weened off the liberals and the rest of the world. You want something get a job and earn it. That is what most of us conservatives here do. Good day.

I hate pennies. Practically worthless and clank around in my pocket

If one buys something for a dollar and have 7% tax added for a total of $1.07, and gives the clerk a $2 bill, how much change will he get back? Of course this is assuming that all the trillion of pennies are gone.

Gnome Sayin said:

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Now it's gonna cost 5x more to finish my floors with nickels

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Not really, if the penny is disconnected there will be a flood of pennies available dirt cheap. Just have to time the market.

TexasAggie73 said:

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If one buys something for a dollar and have 7% tax added for a total of $1.07, and gives the clerk a $2 bill, how much change will he get back? Of course this is assuming that all the trillion of pennies are gone.

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When this was explored many years ago, the proposal was to round up or down (i.e. .02 > down, .03 up) for cash transactions. Credit or debit card transactions would remain the exact amount.

So the answer to your question would be $0.95 if that system is what gets put forth.

So exactly what is changing beside stopping the minting of pennies? Are all transactions now going to be rounded to the nearest nickel? Or have the existing supplies of pennies been deemed to be sufficient?

TexasAggie73 said:

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If one buys something for a dollar and have 7% tax added for a total of $1.07, and gives the clerk a $2 bill, how much change will he get back? Of course this is assuming that all the trillion of pennies are gone.

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It's not going away as a unit account. They just aren't going to produce it anymore since it costs more to make it than it's worth.

The real issue is that metal currency was literally a thing because of the value of the metal in the coin. It's not supposed to be tied to an arbitrary set in stone amount. It's not supposed to be diluted to force a discounted value either. It's supposed to be worth what it's worth. When a penny is worth twice the metal it's made of, it tells you that our dollar is half as valuable as the last point that the metal was worth $0.01. The metal is copper plated zinc. Metals are generally stable but can fluctuate like anything based on their supply and demand. But a penny being worth half the metal in it? That's a ridiculous amount of inflation.

A nickel costs 7-8c to make. So it's not just the penny.

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Rockdoc said:

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I've got probably 100 pounds of pennies in big jugs in the garage if anybody needs any.

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S.A. Aggie said:

Since it takes 181 pennies to make a pound, that's $181 in those jugs. I'll take em!

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Have fun feeding them into the CoinStar machine.

Gnome Sayin said:

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Now it's gonna cost 5x more to finish my floors with nickels

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Damn that looks sick!

Rapier108 said:

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Great, expect prices to go up even more because every retailer will raise their prices up to either 5 or 10 cents.

And I don't think a president has the authority to stop the production of specific coins. Congress is who tells the mint what to produce and how much.

---

The family mule must've kicked you in the head this evening.

I'm not sure how, but I get the feeling Richard Pryor and the guys from Office Space are gonna make bank on this.

Would be nice to see pennies actually worth something again.

I know people say deflation would be bad, but would it really be bad in the long term? Sheesh.