How would you feel if they phased out pennies ?

[Xraywolf]

Offhand, couldn't think of any reason why a metal detecting person would be against eliminating pennies from circulation - They rank just above pulltabs in prolific nuisance finds, and they are so cheaply made that future generations of detectors will only find corroded junk if that.

So personally, I'd be elated, how about you ?

 

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[WaterScoop]

It a money loser for the US


Very good article about how the cost to produce one penny was 1.5 cents


Penny Costs More to Make Than It's Worth

 

[Charlie P. (NY)]

Works for me.

Provided they hang the gas station folks who price gasoline at $2.559 per gallon.

 

[Honest Samuel]

I hate that idea. We in the United States love our pennies.

 

[Mackaydon]

I wouldn't mind if cents and nickels were both taken out of circ; then simply round the transaction to the nearest 10 cents.
Don........

 

[Xraywolf]

Never thought much about nickels, I don't consider them nuisance finds.
Bending over and wasting 4 seconds of my life is worth it for a nickel, not for a modern penny.
Nickels still hold up decently in the ground and their numbers are no where near the overbred pennies.

 

[Duckshot]

How would you Feel if they phased out pennies ?

Well, I wouldn't feel all warm and fuzzy. Not really a tingiling either. Perhaps a little bit of confusion, but other than that I don't feel I would feel a thing.



What I think is that after you eliminate the penny everything will be rounded to the nearest dime. Prices will round up, wages will round down. Whoever has the most pennies wins.

 

[jeff of pa]

I'd be upset if I didn't receive that 1 Cent back in Change .

1,000 Pennies back in Change equals a $10.00 bill

If the are allowed to Phase out pennies they will Round off every 93 Cent Items to $1.00

that's a $20.00 Loss for every 1000 93 cent items.

Once they do that, What's to stop them from suggesting phasing out Nickles, Then Dimes ?

next thing ya Know Everything under $1.00 is Gone & they suggest getting rid of the $1.00 & $2.00 Bills & Rounding up to $5 What Next ?

Nope ! I'd be P.O.d

instead add .001 to .009 Coins for change for Gas.
instead of rounding up. & steeling my Half cent or so.

and add 2 Cent & 3 Cent coins just because they are Cool.

But make them of Metal that Lasts, to save money and make them more recyclable.

They try to force us to Recycle . it's only fair they go first before I will

 

[sprailroad]

Well......The way it's been going lately, if they got rid of all the zinc pennies, I might not be finding anything. To bad they did not consider that with "pull tabs" way back whenever.

 

[pepperj]

They eliminated the penny here in Canada going on 5 yrs now and I think that most don't mind the dirty little things gone from the pockets.

Seriously if one thinks of the trans actions paid with cash and the amount of times they do the rounding up or down, then there's a medication designed for that.

It's not the penny going bye-bye but the whole concept of cash its self going away. Slowly it's becoming a cashless society and that works for the folks that want the penny because they still bill your account to the penny.

So if the transaction is $1.02 or $1.07 you will be charged that, where as if you pay cash they round down. So for those that worry about all of this, pay cash for the round downs, pay card for the round up transactions.

 

[Muddyhandz]

Hated pennies all my life and there's still millions in the ground that I do my best to ignore.
Did a lot of clad hunting this year and had a good average except on the days where I found too many nickels.
Often you now hear me say "Effing nickel" and I hope they eliminate them too!
But don't touch my precious dimes! Oh no, those babies add up as most detectors fail to find them (especially the steel ones) and people loose them the most.
If you had $1 and $2 coins in your change, you wouldn't miss pennies! There's only so much time in the day.....are you gonna waste it digging stupid pennies?
We're supposed to keep this hobby fun!

 

[Xraywolf]

I'd be upset if I didn't receive that 1 Cent back in Change .

1,000 Pennies back in Change equals a $10.00 bill

If the are allowed to Phase out pennies they will Round off every 93 Cent Items to $1.00

that's a $20.00 Loss for every 1000 93 cent items.

Once they do that, What's to stop them from suggesting phasing out Nickles, Then Dimes ?

next thing ya Know Everything under $1.00 is Gone & they suggest getting rid of the $1.00 & $2.00 Bills & Rounding up to $5 What Next ?

Nope ! I'd be P.O.d

instead add .001 to .009 Coins for change for Gas.
instead of rounding up. & steeling my Half cent or so.

and add 2 Cent & 3 Cent coins just because they are Cool.

But make them of Metal that Lasts, to save money and make them more recyclable.

They try to force us to Recycle . it's only fair they go first before I will

* Don't see many .93 items for sale, usually .99 which is a patently ridiculous mental marketing trick.
In any case, they might just as well go to .95 instead, or down to .90.

* Never heard any serious talk of doing away with any $ bills, you are getting theatrical here to advance an argument that lacks merit or common sense.
Metal detecting considerations aside [which is really my main gripe against pennies], how could you defend taxpayers paying to make coinage that costs more to produce than it is worth ?

It's not the penny going bye-bye but the whole concept of cash its self going away. Slowly it's becoming a cashless society and that works for the folks that want the penny because they still bill your account to the penny.

Very true, we have been steadily marching towards a cashless society all our lives, whether we realize it or not.
Checks have advanced to cards, paychecks to direct deposit ,,, Now we are to the point of waving your phone to pay. Talk of debit chips being implanted, the march is inevitable.

We won't see any meaningful elimination of currency in our lifetimes, maybe our grandkids.
I use a mixture of both, often I have wads of cash that would choke a horse and use that for my daily needs for weeks on end, other times I am light on $$ and whip out the debit card. I notice when standing in lines that a majority of people use plastic, even for "cheap" items like a pop.
I rarely ever use plastic unless it is over $20, and have had only 1 credit card my entire life [which I use as little as possible]. I have the capability to do the phone pay thing but have never set it up with my bank, concept doesn't interest me all that much.
Just got my 1st debit card with chip, I think they'll pretty much be phasing out the magnetic strip type cards.

 

[b3y0nd3r]

i THINK THEY SHOULD GO BACK TO LARGE COPPER AND CALL IT A .09 CENT PIECE(SORRY CAPS AT WORK)

 

[Honest Samuel]

I agree with Jeff. Keep the pennies. Most of us use debit cards and credit cards. Don't feel sad digging up pennies, many are worth a lot of money.

 

[GB1]

plus when i crh i like to look through pennies

 

[Honest Samuel]

People who want to phase out pennies have no cents.

 

[CASPER-2]

we need to do like Canada and use more $1 coins and bring in a $2 coin too
I'm not a new coin hunter but in a pinch i'll go for fresh drops if the oldies aren't there
I know guys up there that pull $20 + a hunt because they get the loonies and twonies

 

[Upnorth42]

I'm in Canada and we already got rid of our pennies. They vanished from circulation almost overnight. If I did not find them regularly with the metal detector it would be like they never existed. I do not miss them at all.

 

[Kray Gelder]

Sure, eliminate them. They are insignificant to us, but as Jeff points out, .01 dollar is still, and will continue to be significant to the banks.

 

[KEYSHUNTER]

haha local spots have been eruo coins I go to, I wish they were zincs...out of town money buying up the water....