I'm all for eliminating pennies, if only to get rid of those ridiculous prices that end on 0.99. They'd have to end in 0.95!

 

Just for reference, the Denver US Mint no longer _really_ makes pennies. They merely stamp the front and back onto pre-made blanks. The stamping is done by a Swiss made machine!

 

I'm all for eliminating pennies, if only to get rid of those ridiculous prices that end on 0.99. They'd have to end in 0.95!

You think so? I tend to believe they will end in $1.05 with a multiple nickles as tax.

 

The stamping is done by a Swiss made machine!

That clears this up. Exporting U.S. jobs to a Swiss machine is un-American.
Ban the foreign made pennies!

 

You think so? I tend to believe they will end in $1.05 with a multiple nickles as tax.

I agree. Every change screws the little guy, and my butt is already sore.
(I have a heat rash.)

 

Just for reference, the Denver US Mint no longer _really_ makes pennies. They merely stamp the front and back onto pre-made blanks. The stamping is done by a Swiss made machine!

So, from your point of view, where is the coin made?

By the way, the process of lightly stamping metal to bend or straighten, texturize or polish, surface harden (by work hardening), or to shear or puncture a small section of a pre-made blank is called "coining".

And, where did you expect the equipment to be made? China, Korea, Japan, ...?

 

I'm all for eliminating pennies, if only to get rid of those ridiculous prices that end on 0.99. They'd have to end in 0.95!

So what about vehicle fuel prices that end in 9/10 cent?

What purpose are they serving now exactly?

 

And, where did you expect the equipment to be made? China, Korea, Japan, ...?

Well, when I was a child the machines were obviously US-made. They were loud and dirty.

 

If the penny goes, I'll never get my empty jar collection filled.

 

Getting rid of the penny in Canada saves $11M/year, what would that equal in the US!
Max.

 

Getting rid of the penny in Canada saves $11M/year, what would that equal in the US!
Max.

I think $11M Canadian dollars converts to about a hundred and eighty US dollars.

 

I think $11M Canadian dollars converts to about a hundred and eighty US dollars.

It's bad right now, but not that bad!
Max.

 

Here is the analysis to eliminate the paper dollar and replace with a coin by the GAO

http://www.gao.gov/products/GAO-13-164T

Savings of about $300M per year.

I cannot find the old report on eliminating nickel and penny - I think it was much lower ($75M?)

 

Getting rid of the penny in Canada saves $11M/year

Savings of about $300M per year.

I keep thinking, "Savings for whom?"

Savings for me to pay a minimum of $1 for a stick of chewing gum?
Savings for me to round all my purchase prices UP to the next higher dollar?
Saving the pockets of my pants by carrying dollar size coins?

 

I keep thinking, "Savings for whom?"

Savings for me to pay a minimum of $1 for a stick of chewing gum?
Savings for me to round all my purchase prices UP to the next higher dollar?
Saving the pockets of my pants by carrying dollar size coins?

Don't worry, only seem to be pushing elimination of penny & nickel so things get rounded to nearest dime. Elimination of paper dollar and replace with dollar coin - a coin only slightly bigger than quarter, or, slightly smaller than a quarter with a dual metal design.

 

I keep thinking, "Savings for whom?"

The real savings for me will come when I no longer have to wait for my wife to rummage through her purse looking for exact change and watch her re-count it as she hands it to a cashier.

 

"Should small-value coins be discontinued?"

Don't all US coins fall into that category? Bills too for that matter. Fiat currencies, by definition have no value.

Instead, maybe the Federal Reserve should be discontinued.

 

"Should small-value coins be discontinued?"

Don't all US coins fall into that category? Bills too for that matter. Fiat currencies, by definition have no value.

Instead, maybe the Federal Reserve should be discontinued.

I guess it's an issue of context and frame of reference.

 

I guess it's an issue of context and frame of reference.

Yeah, I was being obtuse and sarcastic.

 

Yeah, I was being obtuse and sarcastic.

I knew it was obtuse, I wasn't sure about the sarcasm.