Comments on: Should The Penny Go?

By: Sophia Bracho

Sophia Bracho — Thu, 19 Nov 2009 03:05:16 +0000

common big part of this country is what Abraham Lincoln did for us.
the least we could do is keep his spirit at least worth a penny.
we do use the penny, every day of our lifes.
yes lets say if you bought a bunch of items, then added in sales tax, you’d have a 50-50 shot at getting price of, say, $15.82—which would round down for saving two pennies.

and keep in mind a penny is MONEY!!!

By: Kelly

Kelly — Wed, 21 Jan 2009 21:09:53 +0000

What about taxes? They would round up to cover taxes. Therefore, your paying more. I say use a different metal and find a way to add value to the penny. All our money is currently losing value and in another 50 years they will want to get rid of the nickle. Everything is inflating like crazy. Plus, if you throw away ANY kind of money, including the penny, then you are only contributing to this economic decline by your wastefulness (if you throw away pennies how do you treat other items?) Some people should just pull their lower lip up over their head and swallow!! LOL!!!

By: Rob Panico

Rob Panico — Mon, 21 Apr 2008 00:44:16 +0000

“1. A penny has little value and little buying power, especially compared to what it had a century ago, when a first-class stamp cost two pennies and a loaf of bread cost a nickel.”

I thought constant efficiency improvements in technology were supposed to make everything cheaper. We have loads more tech now than 100 years ago.

Could it be that things are now thousands of percent MORE expensive? Why is that?

Perhaps we should deal with the institutionalized theft that has been perpetrated against us by the banks in collusion with the federal government (INFLATION) for nearly 100 years now before we eliminate our coins.

The penny is not the problem here.

By: Penelope

Penelope — Thu, 03 Apr 2008 21:12:31 +0000

I personally would NOT like to see the penny go. Aside from it being the inspiration for my blogging pen name (Penelope Pince) , it is sad to see tradition and longstanding elements of our past disappear. As children, many of us enjoyed collecting pennies and counting them, and they played a role in our early financial education and learning the value of money.

Those who throw away pennies are not only wasting their own money, but contributing to the inflation. If those pennies aren’t thrown away so frequently, the government wouldn’t have to mint more.

We don’t need yet another excuse for inflation. Prices are going up quickly enough as is. I shop for groceries once a month and notice significant price increase each month. The worry that everything will cost more next month makes me want to hoard and buy as much as possible this month.

My sister just posted an article this morning, Homemade Coin Bank for Saving Wayward Coins, about saving spare change and with instructions for making yourself an attractive coin jar. We counted all our accrued change last night and came up with $18.90. So, yes, a single coin isn’t worth much alone, but a few at time over time does add up, and more quickly than you might think.

By: toasty aroma

toasty aroma — Thu, 03 Apr 2008 16:38:58 +0000

perhaps the penny and even the nickel being worthless will be a wake-up call for people. Inflation is a hidden tax. When the govt. decides they need money they borrow it (at interest) from the Fed, and the fed just cranks up the printing presses. Every dollar that is printed steals value from the ones in your pocket, because it is impossible to create wealth out of thin air.
everyone needs to look at this:
http://www.npn.net/

By: toasty aroma

toasty aroma — Thu, 03 Apr 2008 16:30:03 +0000

Yeah! let’s get rid of the penny instead of addressing the real problem, inflation and non-asset backed currencies.
You will never hear anyone say, “let’s get rid of the 1/10th oz. gold coin, it’s worthless and a hassle”.
It makes me sad when I think about how retarded we Americans are sometimes.
If a currency is worth less than the materials required to make it, that should be a real clear sign that the currency is FAR TOO DILUTED.

By: Justin H. from Checks Unlimited

Justin H. from Checks Unlimited — Thu, 03 Apr 2008 15:28:34 +0000

Pennies are a hassle. They pile up everywhere. I’ve set up a “change jar” and I just empty all my coins in there. When it’s full I just go to my local bank which offers free coin exchange and gives you bills.

By: gorfkl

gorfkl — Thu, 03 Apr 2008 05:03:19 +0000

If they get rid of the penny, what is going to happen to all those machines that squash pennies into historic landmarks at tourist spots?

By: Gold Why

Gold Why — Thu, 03 Apr 2008 04:56:38 +0000

I personally think we should keep the penny. Yes, I am in agreement with the other posters that the penny isn’t worth much these days, but I think we have a much greater issue: government mismanagement and inflation. Getting rid of the penny is an easy way for us to ignore the real problem, inflation. The question that I think we should be asking is how can we restore value to the penny? What are we doing to stop inflation and the dropping dollar? As someone trying to save money, I hate to see every dollar I save worth less and less over time. Every so often I will go to the bank and pick up a $25 dollar box of pennies. It’s a fun rainy day activity to sort through them. The pre-1982 pennies are actually worth over 2 cents due to their copper content. This is an instant way to get 100% risk-free returns on your investment, but again more of a hobby than anything else. In the long run, if inflation keeps ramping up, this hobby may turn out to be quite profitable. In conclusion, let’s keep the penny and address the real problem at hand.

By: gina

gina — Wed, 02 Apr 2008 19:39:59 +0000

All people that throw away pennies are stupid and financially irresponsible. Go ahead and I will gladly pick them up. I get an extra $50 a year picking up coins that people drop and don;t care to pick up. Money is money and 100 pennies is just as good as a dollar.