Tuesday, January 23, 2007

Check under the cushions


Even though the penny has been made with copper coated zinc since 1982, rising prices of metals have made the penny worth more melted than in your pocket. A Fed economist suggests that the penny could become history.

7 comments:

Anonymous said...

I dont know how I feel about raising the amount a penny is worth from 1 cent to five cents. It seems like the penny really is a sort of meaningless coin since there are even spare penny tins at most stores if one runs a cent or two short. But still I think the penny should stay at one cent or just be eliminated all together. I think that all coinage sooner than later will be replaced by credit so this discussion wont even matter. But since the transition into a completly plastic world has yet to occur we should eliminate the penny when it rises higher than two cents in value melted down.

Anonymous said...

jeezz i hope they do that...i dont really like pennies and i hardly ever hold on to them but if they majically turned into nickels then i might start using them...even tho i never use nickels, i guess a penny-nickle would be coooler.

Anonymous said...

pennies have already been out of circulation in my mind and in the minds of a lot of others. nickels are sufficiently small enough of a denomination. it would not be a big deal to round all prices to the nearest five cents. this also means one less type of coin to be carrying around, that is if u are one of the 12 people in the united states who actually carry pennies. it is time to put good ol' copper lincoln in the money museum.

Anonymous said...

I think it’s a pretty cool solution. I think the penny is stupid. If you go somewhere and you’re a penny short usually they just let it slide, besides who likes carrying around theses little circles that are only worth a cent? If they increase the value of the penny maybe will have the incentive to hold on to them and not just toss them aside into a penny cup.

Anonymous said...

honestly, when was the last time someone paid for something in pennies? i mean, unless theyre old, or purposely trying to make you mad, ive rarely ever really seen people actually use pennies. theyve just become a burden in todays society. who likes carrying around pennies? theyre a waste especially considering how little theyre used. and if theyre technically worth even more than a cent, whats the point of keeping them in our currency?

Anonymous said...

Pennies are by far the worst type of money you can have. Everyone knows that when you buy something that is 10 dollars and 2 cents the clerk gives you 98 cents back how annyoing is that. You have clicking in you pockets and a heavy pocket the whole rest of the day. When you roll coins to give to the bank it usually benifits you, but with pennies its 50 cents per roll this just puts more change in my pocket which i dont want. The five-cent coin is a much better idea, i hate the penny.

Anonymous said...

Pennies are just a waste of everyone's time and money.. who cares about pennies anymore? I'm pretty sure no one really cares about nickels either..though they are better than pennies. The only thing I like about pennies is when I find them on the ground heads up. If they changed the value from 1 cent to 5 cents I don't really think it will make a difference, and would it really ever happen? I don't think so.