Should small-value coins be discontinued?

Discussion in 'Off-Topic' started by GopherT, Oct 28, 2015.

In 1857, the US government discontinued the half cent coin. What coins should be discontinued today?

Poll closed Dec 16, 2015.
  1. One cent (Penny).

    8 vote(s)
    42.1%
  2. Penny AND five cent (Nickel).

    3 vote(s)
    15.8%
  3. Penny, Nickel AND ten cent (Dime).

    0 vote(s)
    0.0%
  4. Eliminate all coins - use credit card or e-payment systems.

    2 vote(s)
    10.5%
  5. None, keep it the way it is.

    6 vote(s)
    31.6%
  1. GopherT

    Thread Starter AAC Fanatic!

    Nov 23, 2012
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    In 1857, the half cent coin was eliminated because it became more valuable than the face value. It was a copper coin about the size of a quarter.

    With inflation, the buying power of that coin in 1857 was approximately equal to a twenty-five cent coin (quarter) today.


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    Last edited: Oct 28, 2015
  2. #12

    Expert

    Nov 30, 2010
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    If we don't have nickles and dimes, how is the government going to nickle and dime us to death?

    But, seriously...the government already, "rounds" payments down to the next lower whole dollar amount, even if the difference is 99 cents. Do you want every grocery store and gas station rounding your costs UP to the next dollar?
     
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  3. GopherT

    Thread Starter AAC Fanatic!

    Nov 23, 2012
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    If I have 50 transactions per month, that is an average of $0.50/transaction or $25/month if we would eliminate the quarter and half dollar. If we only eliminate the dime and smaller, the average loss per transaction because of rounding up would be $0.125 so my loss will be $4 per month.
     
  4. tcmtech

    Well-Known Member

    Nov 4, 2013
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    If we give up the pennies what am I supposed to bribe my daughter with?

    Do you have any idea how much work you can get out of a 7 year old for a dollar in pennies that dollar in cash quarters, dimes or nickels just won't touch? o_O

    Cripes if we still had half cent coins that were as big as a quarter I could probably get a month's worth of work out of her for 200 big clanky half cent coins. :D
     
  5. GopherT

    Thread Starter AAC Fanatic!

    Nov 23, 2012
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    Just give her a steel fender washer. Oh, wait..
    http://www.homedepot.com/p/Everbilt...-Steel-Fender-Washer-3-Piece-815841/204284499
     
  6. #12

    Expert

    Nov 30, 2010
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    Better to pay her the slugs you knock out of electrical boxes.;)
     
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  7. strantor

    AAC Fanatic!

    Oct 3, 2010
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    Count yourself lucky that still works! I had to stop that game with my oldest when she was 5 or 6. She got too expensive, demanding several whole dollars for common chores, and more and more each time! From then on it was on a "because I said so" basis. That worked much better; no pointless haggling with an unreasonable miniature woman, no more illusion of choice. The 3 y/o was starting expect multiple dollar bounties for solid excrements toward the end of her potty training too. Good thing she graduated to unassisted toilet sitter before I went broke. Just in time to save the farm and remind me not to repeat my mistake.
     
  8. GopherT

    Thread Starter AAC Fanatic!

    Nov 23, 2012
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    After the first two hours of voting, I can say that 3 out of 4 people from somewhere on earth think the US should eliminate the penny

    .After the four two hours of voting, I can say that 6 out of 8 people from somewhere on earth think the US should eliminate the penny.
     
    Last edited: Oct 28, 2015
  9. tcmtech

    Well-Known Member

    Nov 4, 2013
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    Actually she's pretty good about helping out for the sake of helping out. If she does a load of my laundry washed and dried without me having to get after her or get her mother after her she gets $1 in any form she wants. :cool:
     
  10. Hypatia's Protege

    Distinguished Member

    Mar 1, 2015
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    Interesting - 'round here prices are so structured as to return (on average) less than $0.20 change without regard to the number or variety of items purchased:( -- Although a staunch advocate of cash - Let's lose the penny! They're worthless, annoying, metallic litter! --- And I hate them! I hate them!! I hate them!!!:mad:

    With profuse apologies to Monty Python:cool:
    HP:D
     
  11. MaxHeadRoom

    Expert

    Jul 18, 2013
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    Here we have eliminated the Cent and the nickel.
    But we have a dollar coin in place of the $1 bill.
    Max.
     
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  12. #12

    Expert

    Nov 30, 2010
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    Let's run the numbers.
    Right now, the population of the U.S. is 322 million. http://www.census.gov/popclock/
    If half those people handle money and they only perform half the number of transactions you suggested, the difference to the aggregate population will be $3.8 billion per year. If I don't have a cash activity business, I will not receive any of it.

    Of course, I could go with the cashless society idea and register every cent of my activities with a plastic card.
    Unfortunately, I have a strange aversion to rendering every cent of my financial behavior traceable.
     
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  13. Aleph(0)

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    Mar 14, 2015
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    I have same aversion and I'm at least better part of 1% as pure and well behaved as avatar suggest;)!
     
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  14. Aleph(0)

    Member

    Mar 14, 2015
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    HP it's pennies not dirty forks! Now I say time for _you_ to pace your drinking:p
     
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  15. nsaspook

    AAC Fanatic!

    Aug 27, 2009
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    You can reload coins in shotgun shells. Nice load for a 10 Ga. Coach gun.
     
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  16. #12

    Expert

    Nov 30, 2010
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    Cool! Pennies will fit in a 10 ga. which most people don't have. Dimes will fit in a 12 ga. which is more common, but dimes cost ten times as much as pennies.:D

    http://www.unc.edu/~rowlett/units/scales/shotguns.html

    No link for coin diameters because I merely got out some coins and measured them.
     
  17. Hypatia's Protege

    Distinguished Member

    Mar 1, 2015
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    Another illusion shattered!:(:rolleyes::D

    Uh-Huh! --- Nice way to ream the barrel and strip the choke as well:eek::eek::eek:
     
  18. DerStrom8

    Well-Known Member

    Feb 20, 2011
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    If we get rid of the penny, what am I supposed to jam in the fusebox when I'm out of fuses??? :confused:
     
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  19. nsaspook

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    Coach gun ain't got no choke. :eek:
    [​IMG]
    https://en.wikipedia.org/wiki/Coach_gun
     
    Last edited: Oct 29, 2015
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  20. Sparky49

    Active Member

    Jul 16, 2011
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    I have used kitkat wrappers, with sometimes pleasingly explosive results.
     
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