| Dropping the Penny from Circulation? - Click HERE for Original Thread |
| EK9Hatch |
Saw this on the news today and it was pretty interesting. Apparently it costs upwards of 4 cents to make 1 penny, and many feel they are useless.
What is your opinion on this?
Here's one of many links...
http://www.citynews.ca/news/news_15665.aspx
Jamie |
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| newaccorddriver |
| kinda hard to eliminate the penny unless they significantly revamp the pricing structure. so instead of something costing xx.x3, it must cost xx.00 or xx.05. some see it as good, some see it as bad, but i think they should still keep it though |
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| EK9Hatch |
There are over 4 BILLION Canadians pennys in circulation, and I guess it cost 130 Million for last years production. Considering most of those pennys get stored in jars, and not used for currency, it does seem like a waste of money.
Jamie |
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| AudiInProgress |
| I think they should do away with the penny and the nickel. |
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| newaccorddriver |
| if they did away with the pennies and the nickels, they would have to round it to the nearest dime. all the dollar stores must be excited to get $1.10 instead of $1.07:lol: |
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| newaccorddriver |
quote:
Originally posted by EK9Hatch
There are over 4 BILLION Canadians pennys in circulation, and I guess it cost 130 Million for last years production. Considering most of those pennys get stored in jars, and not used for currency, it does seem like a waste of money.
Jamie
that is true that alot of people dont care for it, but there are quite a few people that like to use them. although if they did eliminate them, there would have to be a law made for rounding off the total cost so it doesnt end in anything but a 5 or a 0 |
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| ChromeDragon |
quote:
Originally posted by newaccorddriver
if they did away with the pennies and the nickels, they would have to round it to the nearest dime. all the dollar stores must be excited to get $1.10 instead of $1.07:lol:
What year are you living in?:blink: |
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| EEDZ |
I say get rid of them. Like Jamie said, I feel they are useless.. and rounding a product from $5.73 to $5.75 doesn't really bother me that much. But, I guess the question is how much that little adjustment will effect totals for businesses dealing in millions or billions of dollars. Or Canada's GDP for that matter?
:dunno: |
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| sleeper_ |
| rounding UP or DOWN would average out to no change at all. 1 and 2 round to 0, 3 and 4 round to 5. |
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| EK9Hatch |
quote:
Originally posted by sleeper_
rounding UP or DOWN would average out to no change at all. 1 and 2 round to 0, 3 and 4 round to 5.
I'm sure there would be slight changes, but like you said...it would be rounded both ways.
Jamie |
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| newaccorddriver |
quote:
Originally posted by ChromeDragon
What year are you living in?:blink:
:dunno: |
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| Rich_A |
I never, ever use pennies. I am all for doing away with them.
Except.. people's distaste for them does one really good thing - it helps charity. So many people just give their pennies from change to the nearest charity change box. I always do.. sometimes larger coins but rarely.
I think if the penny was removed from circulation a number of charities would be hit pretty hard even though it's such a small coin.. |
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| newaccorddriver |
quote:
Originally posted by Rich_A
I never, ever use pennies. I am all for doing away with them.
Except.. people's distaste for them does one really good thing - it helps charity. So many people just give their pennies from change to the nearest charity change box. I always do.. sometimes larger coins but rarely.
I think if the penny was removed from circulation a number of charities would be hit pretty hard even though it's such a small coin..
thats a perspective that not many people usually look at. |
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| EK9Hatch |
quote:
Originally posted by Rich_A
I never, ever use pennies. I am all for doing away with them.
Except.. people's distaste for them does one really good thing - it helps charity. So many people just give their pennies from change to the nearest charity change box. I always do.. sometimes larger coins but rarely.
I think if the penny was removed from circulation a number of charities would be hit pretty hard even though it's such a small coin..
I'll have to disagree with you on that one. Sure pennies can help charity...but you realize how small a number it really is right?
I mean, even if 1 MILLION pennies got donated to charity...thats just 10 Grand.
Jamie |
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| cupcake |
quote:
Originally posted by newaccorddriver
:dunno:
Pst...GST is 5% now. The dollar store you go to has been ripping you off for the past 2 years or so. Just thought you should know.
Pennies are kind of annoying. I mean, they just sit there in your wallet and then when you need one, it's never there. I think they're going to have to figure something out with the GST before doing anything with the currency. I have no good ideas though. |
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| GOT BOOST |
I love pennies,
I love to save them up and pay for small items with them. Usually less than $5.00. Yeah.... I'm that guy you are cursing at in line! :D
Mike |
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| Drave |
quote:
Originally posted by GOT BOOST
I love pennies,
I love to save them up and pay for small items with them. Usually less than $5.00. Yeah.... I'm that guy you are cursing at in line! :D
Mike
I hate you. There was two people in line one time, and I had more stuff than the guy behind me, so I let him go ahead, and he paid for his stuff in change. No loonies or toonies, pure change. |
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| Prudz_lude |
quote:
Originally posted by GOT BOOST
I love pennies,
I love to save them up and pay for small items with them. Usually less than $5.00. Yeah.... I'm that guy you are cursing at in line! :D
Mike
:lol: i am that guy as well. i paid for $72 of gas with rolled changed and unrolled change. The lady was so pissed off. It was not that bad. She just had to count rolls of change and about $1.50 of actual change. Some guy told me to go to a bank to deposit it, not to use it to buy gas. I told him that is stupid. why would i waste time and gas money to drive to the bank when i could just pay at the till. :lol: he didn't like that to much. |
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| onestepback |
| I hope they discontinue the penny. That will make my penny collection appreciate in value! hahaha. |
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| Rich_A |
quote:
Originally posted by EK9Hatch
I'll have to disagree with you on that one. Sure pennies can help charity...but you realize how small a number it really is right?
I mean, even if 1 MILLION pennies got donated to charity...thats just 10 Grand.
Jamie
I bet that much can go to a single charity in one day from pennies. |
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| cupcake |
quote:
Originally posted by onestepback
I hope they discontinue the penny. That will make my penny collection appreciate in value! hahaha.
Do you know how many other people have a penny collection? ha ha |
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| EK9Hatch |
quote:
Originally posted by Rich_A
I bet that much can go to a single charity in one day from pennies.
I'm confused with your statement. You think that some charities receive 1 MILLION pennies a day? :dunno:
Jamie |
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| Perilous_Enterprises |
I'm all for cancelling the penny. Last year, the penny cost Canada $130million to produce $120million worth of penny's....
Thats an American economic policy; spend more than it's worth.
Paul Martin say's, "We believe that at the same time we have a birthday party for the penny, we should have a funeral," and I believe thats a good idea.
I will however miss those precious moments in line at Tim's where I hold everyone up counting out a few hundred penny's for my bagel. |
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| AuZZZie |
quote:
Originally posted by newaccorddriver
kinda hard to eliminate the penny unless they significantly revamp the pricing structure. so instead of something costing xx.x3, it must cost xx.00 or xx.05. some see it as good, some see it as bad, but i think they should still keep it though
Are you fucking serious?
Is the concept of rounding up/down that hard for folks?
We did away with 1 and 2 cent coins back home about 12 years ago.. I can't believe Canada still has those useless things.
Here i'll give you a crash course.. *.5 and above.. Round up.. *.4 and below.. Down.
Pretty tough stuff. |
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