The official Goodbye to the one cent

[Tesorodeoro]

So here’s a plan for them to keep everybody happy.

1. Discontinue making cents.
2. Make nickels out of zinc with nickel plating. Zinc and nickel producers are still happy, and the cost of nickels drops back below face value.
3. Copper producers are still happy because other coins use it anyway.
4. Make larger denomination coins (dollar, five, ten and twenty dollar).
5. End the Fed and paper dollars
6. Profit!

Yeah I know. Never happen.

Let’s hold judgement till Rand Paul heads up an audit of the Fed. Reserve.

 

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[Chilli]

I know it will take years and years yet of digging them. But they're not not going to be minted anymore.

View attachment 2192743

Our 1 and 2 cents were taken out of circulation yrs ago.
What happened was shops started and still do sell things for say 98c. Or 99c.
At the checkout it's rounded up to a dollar. If it's 96c or 97c it's rounded down to 95c. Nobody sells anything under 98c. So everything is rounded up to a dollar. It's stupid, just advertise a dollar. I'm sure there is a reason they keep it this way though.

 

[robertk]

Nobody sells anything under 98c. So everything is rounded up to a dollar. It's stupid, just advertise a dollar. I'm sure there is a reason they keep it this way though.

It's perception. The same reason they price something $9.99 instead of $10. Because you tend to mentally ignore the fractional part, so your brain thinks it's a better deal - "less than ten bucks", "only nine bucks", etc.

 

[ARC]

I have always been perplexed by why they have never thought of going back to the steel penny.
OR.. even better a stainless steel penny.

It could made from recycled steels.... which cost around .01-.02 cents PER POUND.

I mean during the war effort they switched to steel so it can and has been done.

 

[ARC]

PS... I would like to add...
I think doing away with any currency is the dumbest thing ever conceived especially for the U.S.

I mean we are smarter than that... err or are we not ?

Well...... i mean we still have primitive traffic light systems worldwide as we make cars that drive themselves.
Talk about backwards arsed.
Want lower gas prices ?
Try stopping the wasting of it and see if that helps. heh

 

[pepperj]

It won't be allowed is because the zinc and copper mining companies will lobby the politicians to prevent it from happening. They're the only reason we've kept on minting them in the first place.

It probably will impact Jarden that supplies the blanks, but it's not going to impact the mining companies.
Zinc/copper mining it only represents a fraction of the total output.

Copper output in the USA is 1,232,000 tons.
The penny uses up 232 tons

Zinc output in the USA is 860,000 tons
The penny uses up 11,321 tons
( all the figures are in short tons)