The penny: Is the day of reckoning near?

  • Article by: John E. Sununu
  • Updated: April 1, 2013 - 9:10 PM

The once-copper, now-mostly-zinc coin is inefficient. Just maybe, the reckoning has arrived.

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rogue37Apr. 1, 1310:27 PM

A dollar coins time has come. but make it different from any other coin. So you can actually tell the difference. Make it like a silver dollar but very bright gold looking.

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darkelfApr. 1, 1311:54 PM

I love the dollar coin. I used them often. But they're impossible to get hold of sometimes, because the banks just don't want to deal with them.

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alansonApr. 2, 13 3:13 AM

Not only the penny. Nickels and quarters also. Keep the dime and dollar coins. Add a new small half dollar and five dollar coin and we'd be good for another 1000% of inflation, just like we've had since World War II.

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cstoney48Apr. 2, 13 6:51 AM

Eliminate the penny, replace the paper dollar and while we're at it, adopt the metric system. Why are we a the only country in the world still tied to the king's foot???? The metric syste would increase global competitiveness and create jobs!!! Where are Mitch and the gang on this one?

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ollie3Apr. 2, 13 7:06 AM

penny costs 2.5 cents and a nickel costs 11 cents? pretty obvious solution, do away with the nickel and make the penny the 5-cent piece

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elmore1Apr. 2, 13 7:37 AM

Our neighbors to the north recently eliminated them. Canada is very progressive in many other ways like requiring photo id to vote. We can learn from them for sure.

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FrankLApr. 2, 13 9:13 AM

My question is how would this work when I go to the store and buy something? Say my bill is $21.48. If I pay with cash, I would assume it would be rounded up to $21.50. But what if I pay with a credit card? Does my bill stay at $21.48 since there is no need for a penny? Further, the biggest driver for pennies is not a store's prices, but state sales tax.

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StarquestApr. 2, 1310:41 AM

I'm undecided about the penny and largely don't care. But one thing comes to mind: the consumer will lose. If we get rid of the penny, I guarantee you that everything will cost just slightly more due to rounding, and it certainly won't be the retailer that eats the difference. It will be you. I can only imagine that John Sununu and his ilk have been lobbied by businesses who are licking their chops at an excuse to raise prices for no good reason. Until everybody moves away from cash (which may never happen, and I sort of hope it won't), then this is likely a bad deal for consumers.

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puckno34Apr. 2, 1311:58 AM

The biggest reason NOT to bother eliminating the penny is the eventual conversion to a cash-less society.

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owatonnabillApr. 2, 1312:58 PM

lots of places now just round up or down when giving change for cash purchases, and ignore the penny entirely. Seems pretty workable. They still figure the bill with pennies if you use a charge card.

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