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.
