$ports store disses cents

[Eminem]

Vt. store ditches the penny | Watch the video - Yahoo! News

That store makes cents
Thats smart, the U.S. should follow canada's lead with discontinuing the cent

They should stop lobbying for da cent yo and discontinue dat.

 

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[Goldmedalexchange]

Vt. store ditches the penny | Watch the video - Yahoo! News

That store makes cents
Thats smart, the U.S. should follow canada's lead with discontinuing the cent

They should stop lobbying for da cent yo and discontinue dat.

My very first job as a teenager, at a mom and pop pizzeria, did something like this, only it was simply done by a pricing formula that included the local area sales tax rate and priced the products to the exact amount that meant EVERY transaction ended in a 5 or a 0. The only time we'd get penny's was if a customer paid us with them, usually in increments of 5 lol. It worked out very well I thought.

 

[canaboy123]

I agree,

Discontinue the cent


Mint nickels,dimes,quarters and half dollars out of steel.


Replace the dollar bill with $1 coin.


Save the FED some dough.

 

[madwest]

I agree,

Discontinue the cent


Mint nickels,dimes,quarters and half dollars out of steel.


Replace the dollar bill with $1 coin.


Save the FED some dough.

For coins, the FED pays face value regardless of MFG cost.
For notes, the FED pays cost of printing.

Reducing the minting cost of coins is good for the gov, but does nothing for the FED.

FRB: Currency and Coin Services

Each year, the Federal Reserve Board determines the number of new Federal Reserve notes that are needed and submits a print order to the Treasury's Bureau of Engraving and Printing (BEP). The order reflects the Federal Reserve System's estimate of the amount of currency that the public will demand in the upcoming year and unfit currency that is destroyed. The Federal Reserve pays the BEP the cost of printing new currency and arranges and pays the cost of transporting the currency from the BEP facilities in Washington, D.C., and Fort Worth, Texas, to Reserve Bank cash offices.

Coin held by the Reserve Banks is an asset on the Federal Reserve's balance sheet and the Federal Reserve buys coin from the Mint at face value.