The mighty penny (Update: RIP the penny) (2 Viewers)

[kcirdor]

I hate pennies. I leave them at the register for the next soul...

Thumbs up for the supplier of 'Take a Penny, Leave a Penny' Those things come in handy.

Pennies are great because all you gotta do is throw them in some jug or pot and if you are ever strapped for cash there you go an instant 20 bucks.

 

[porculator]

Taking away pennies may seem minor but it is not. Everything will go up (rarely down)by multiples of $.05

Stamps would automatically go to .45 and increase by a nickle instead of cents when the USPO decides it need more money.

Gas increases go up a nickle at every increase and the suppliers would wait too long before they decide to give you a .05 reduction at the pump. more profits for the oil companies.

Dumping the penny is an excuse to help big business and sneak more money out of the consumers pockets a little at a time.

Gas prices aren't even rounded to the nearest cent now, what makes you think they would have to be rounded to the nearest 5 cents if theres no penny? There's no 1/10th penny for gas as it is now.

You're probably right about stamps though. I don't get why they just don't put it at 50 cents and leave it there for a while anyway.

 

[bclemms]

Taking away pennies may seem minor but it is not. Everything will go up (rarely down)by multiples of $.05

Stamps would automatically go to .45 and increase by a nickle instead of cents when the USPO decides it need more money.

Gas increases go up a nickle at every increase and the suppliers would wait too long before they decide to give you a .05 reduction at the pump. more profits for the oil companies.

Dumping the penny is an excuse to help big business and sneak more money out of the consumers pockets a little at a time.

Now you are worried about inflation?

The price doesn't go up on anything on paper. A stamp cost 42 cents. If you buy one it would cost 40 cents. If you buy ten it would cost $4.20 if you bought 53 it would be $22.25 instead of $22.26. I could see how an item that would be purchased in bulk such as stamps would go to 43 cents so it wouldn't be cheaper to buy them 1 at a time but it doesn't have to jump a nickle.

If gas is $2.99 a gallon and you buy 10 gallons then the total would round up from $22.99 to $30.00 or it would cost the consumer a whole tenth of a cent per gallon.

I see what you are saying about businesses trying to use it to increase profit but if they wanted to raise prices now nothing is stopping them. Competition determines the ultimate price of an item.



It really isn't that important to me. I already round all my prices off to the nearest $5 and anytime you multiply a number (tax) by 5 it comes out rounded to the nearest nickel anyway. It would just save the country time, money and natural resources as well as the energy used to mine and produce pennies.

Just saying if we wanted to do it then it wouldn't be difficult at all.

 

[FWtex]

The whole marketing system will have to change. No more anything to the 99th cent.

The .99 cent store would instantly be a relic.

 

[bclemms]

The whole marketing system will have to change. No more anything to the 99th cent.

The .99 cent store would instantly be a relic.

It would turn into everything is a buck store

 

[Shockmo]

Taking away pennies may seem minor but it is not. Everything will go up (rarely down)by multiples of $.05

Stamps would automatically go to .45 and increase by a nickle instead of cents when the USPO decides it need more money.

Gas increases go up a nickle at every increase and the suppliers would wait too long before they decide to give you a .05 reduction at the pump. more profits for the oil companies.

Dumping the penny is an excuse to help big business and sneak more money out of the consumers pockets a little at a time.

It would be insignificant. Cash registers could be easily programmed to round "total purchase" to the nearest $.05. Would not effect business pricing of goods in the least bit.

And what the heck do the oil companies have to do with this conversation? lol....x2

 

[ra]

.........
If gas is $2.99 a gallon and you buy 10 gallons then the total would round up from $22.99 to $30.00 or it would cost the consumer a whole tenth of a cent per gallon.........

Your math scares me.
It would be 29.90 and cost you 10 cents more.



You think you're better than me? Oh, you're not better than me. You handle my *** pennies everyday. You pick up my *** pennies for good luck. You throw my *** pennies in fountains and make wishes on them. You give my *** pennies to your little daughter to buy gumballs with.

 

[Thorin]

In ten years we'll be paying for everything by scanning the barcode tattoo on our foreheads, so it's moot.

 

[rob021275]

Wouldn't this lead to a rash of computer programming fraud ala "Superman III"/"Office Space"?

/sarcasm off

 

[NCSaint]

Do not dump the penny.

 

[Hoyasaint]

Australia's dumped the penny and somehow they've managed to thrive as a country They do the whole rounding thing.

 

[ibelieve]

Lets get rid of all coins and just have dollars.

 

[Complex Kid]

Lets get rid of all coins and just have dollars.

Lets get rid of dollars and just go back to bartaring. Anyone want to trade me there PS3 for this fine nutria pelt?

 

[Rich Jr]

You ever try to buy pot with your debit card?

QFT

BTW, I don't even carry pennies. If I get pennies back with my change I tell the person to keep them.

 

[BWFoster78]

No. It's not very difficult for businesses to price items so that, with tax, they come out to a multiple of 5.

That brings up the question of why the heck does the tax have to be added after the purchase? It is a sales tax, not a buying tax.