Should The United States of America kill the 1¢ and 5¢ coins? - General

Nickels are really useful, what the hell's wrong with you OP? I can't count how many times a nickel or two has been the deciding factor in if I can afford something or not. Also one penny is all I need to keep my bank account open, so they're cool by me.

Vending machines not taking 1c coins? Are you kidding? I've been all over the US and I've been able to put in 25c in pennies when I'm trying to get to a dollar out of spare change.

I think pennies should go, but the nickel should be made with a cheaper material. I think we're fine with nickels, dimes, and half-quarters due to the dollar being 100c.

[QUOTE=-Chief-;35361923]I can understand pennies, but why nickels? Keeping money in five and tens is a good idea.[/QUOTE] Nickles cost 11.3 cents to manufacture compared to their worth[5 cents]. Logically I would say flip the dime and nickle around considering they have manufacturing costs true to their value, and at the same time it would help blind people with size differences.

[QUOTE=JoeSkylynx;35352762][I]"Kill the 1¢ and 5[/I][I]¢ coins in America!" [/I] It's one of those things you hear quiet often, but why? Well the main reason is because it costs more to manufacture both these damn coins then it's actually worth to have them around. To manufacture a penny, it costs roughly 2.5¢ - 3.5¢. We waste almost 3¢ to manufacture a worthless coin that everyone hates with a burning passion. It doesn't end there either... To add some more petrol to the fire we also waste 11.2¢ to manufacture the 5¢ piece[Nickle]. I'm unsure of how much we waste manufacturing the dime/quarter, but the 1¢/5¢ have to go. At the same time though we have to wonder whats the cons of not manufacturing the penny/nickle. So... What's everyones opinions on the 1¢ and 5¢ being removed from circulation and banned from usage?[/QUOTE] [citation needed] and anyway, it would be pretty costly to take out all the coins out of circulation i could understand not manufacturing them but then how do you plan on giving change for, lets say $x and 95c?

Well sales and food tax is calculated differently on a state-to-state basis. Even if corporations made things 19.95, sales tax could make it something like 20.03 and good luck making that change without pennies.

They shouldn't kill pennies and nickels. They are small, and hard. Great for throwing at people! No, but in all seriousness,I wish we could keep quarters, kill dimes, pennies, and nickels. but what if someone needs less than $.25 in change? I also would like to know why we put our currency symbol before the amount. Do other countries do this?

[QUOTE=peabrain101;35362928]Well sales and food tax is calculated differently on a state-to-state basis. Even if corporations made things 19.95, sales tax could make it something like 20.03 and good luck making that change without pennies.[/QUOTE] So then it rounds up to 20.05...

[QUOTE=I be da best;35362966]They shouldn't kill pennies and nickels. They are small, and hard. Great for throwing at people! No, but in all seriousness,I wish we could keep quarters, kill dimes, pennies, and nickels. but what if someone needs less than $.25 in change? I also would like to know why we put our currency symbol before the amount. Do other countries do this?[/QUOTE] Yeah. Every country does that. Google is your friend.

[QUOTE=Lilyo;35363146]So then it rounds up to 20.05...[/QUOTE] That will annoy a good amount of person having to pay more for some goods and less for other goods

[media]http://www.youtube.com/watch?v=y5UT04p5f7U[/media]

[QUOTE=The freeman;35363199]That will annoy a good amount of person having to pay more for some goods and less for other goods[/QUOTE] Yes I'm sure everyone will be outraged for paying 2 more cents for something. Canada has discontinued its penny and is now encouraging business to round to the nearest 5 cent mark, something that we already know doesn't make prices rise or make business lose profit as the value balances out systematically (you pay 2 cents more for something that was .03 before and 2 cents less for something that was .2 before, balancing your "loses" out for example). Many countries have already gotten ride of their pennies without any riots breaking out in the streets...

[QUOTE=Lilyo;35363399]Yes I'm sure everyone will be outraged for paying 2 more cents for something. Canada has discontinued its penny and is now encouraging business to round to the nearest 5 cent mark, something that we already know doesn't make prices rise or make business lose profit as the value balances out systematically (you pay 2 cents more for something that was .03 before and 2 cents less for something that was .2 before, balancing your "loses" out for example). Many countries have already gotten ride of their pennies without any riots breaking out in the streets...[/QUOTE] Paying 2-5 more/less cents on stuff like gas is a pretty big deal in the long run, but that is just me.

Not the nickel. We should ditch the penny though. Start to phase it out at least.

We could even live without dimes pretty damn easy, just round to nearest/round up to nearest quarter.

The last time I remembered using a penny was like, my piggy bank when I was five.

Just fyi, the US would not take existing 1c/5c coins out of use under any plan anyone has proposed, we'd just simply stop producing new coins and use the ones already out in peoples change jars.

[QUOTE=Devodiere;35353212]Definitely get rid of the 1¢ at the very least, the five cent might still have a place due to the odd status of quarters. I am Australian and we got rid of 1¢ and 2¢ coins in 1992. The same trick of making everything $19.95 still exists, but there really isn't a problem. It is rounded to the nearest five and I really don't think it's much of a big deal in cash transactions if you lose 2¢ when 5¢ is practically worthless. Our coins go .05, .10, .20, .50, 1.00, 2.00 so we don't have the issue of quarters and could move up to 10¢, but not right now.[/QUOTE] Exact same in the Netherlands. Parking meters and vending machines don't take anything less than 20c either so you really can't use them for anything anymore unless you have a butt load of them and use them at the grocery store. Well we didn't get rid of 1c and 2c coins, they're just not produced anymore. If I ever see one it's usually a belgian one. [editline]4th April 2012[/editline] [QUOTE=The freeman;35363827]Paying 2-5 more/less cents on stuff like gas is a pretty big deal in the long run, but that is just me.[/QUOTE] I don't think you understand what he said. What he said is, in the long run you don't pay anything more nor less, you pay the same because it's rounded to the nearest 5c meaning that sometimes you're lucky and pay less, sometimes you're unlucky and pay more, those two balance each other fairly good.

We should just completely stop printing any form of money and only spend it/destroy it until we value it more.

If we gonna get rid of the penny then we need to either round down or round up the price of gas. It's really annoying to know that gas is always (3-5).(1-99)9[Depending on where you live in America].

I only came to this thread to check out the above users hot pic [editline]4th April 2012[/editline] niceeeeeeeeeeeeeeeeeeeeeeeeeeee [highlight](User was banned for this post ("This is not debating." - Megafan))[/highlight] [highlight](User was banned for this post ("Extended for previous offense in Mass Debate." - Megafan))[/highlight]

In Australia we only go down to 5 cent coins and I have to say, one of the most irritating things about visiting Germany is the worthless stack of 1, 2 and 5 Euro cent coins I ended up with. It's irritating and impractical for people to fiddle around with small change at registers and it either ends up with transactions taking much longer or people collecting worthless small change.

[QUOTE=Aide;35423452]If we gonna get rid of the penny then we need to either round down or round up the price of gas. It's really annoying to know that gas is always (3-5).(1-99)9[Depending on where you live in America].[/QUOTE] 1.99 becomes 2.00 (if you pay in cash), and 1.93 becomes 1.95 and 1.92 becomes 1.90. It's not that hard.

Not unless we're willing to overhaul our entire currency system to compensate. In fact it'd probably just be easier to give pennies more worth. [editline]4th April 2012[/editline] Plus something like this would probably hit the poor harder than anyone else.

[QUOTE=Mr. Someguy;35433592]Not unless we're willing to overhaul our entire currency system to compensate. In fact it'd probably just be easier to give pennies more worth. [editline]4th April 2012[/editline] Plus something like this would probably hit the poor harder than anyone else.[/QUOTE] That makes no sense. Why would you give pennies more "worth"? That would give all the other coins more "worth" as well so then a dollar would be $5 now. And as we talked about before, rounding prices to the nearest 5 cent mark won't impact your spending in any meaningful way.

In Australia we don't have 1 cent coins. And over the years we're spacing out 5 cent coins. So we'll have 10 cent as our lowest. I think it's a good idea. You can't buy anything for 5 cents. They're just a huge waste.

[QUOTE=Lilyo;35434243]That makes no sense. Why would you give pennies more "worth"? That would give all the other coins more "worth" as well so then a dollar would be $5 now. And as we talked about before, rounding prices to the nearest 5 cent mark won't impact your spending in any meaningful way.[/QUOTE] Because if everything rounds up, and taxes round up, things are slightly more expensive than they were before.

[QUOTE=Mr. Someguy;35435472]Because if everything rounds up, and taxes round up, things are slightly more expensive than they were before.[/QUOTE] But the net gain in overall value by eliminating deadweight would more than make up for it.

[QUOTE=ButtsexV3;35353130]I bought my lunch today with the change in my cupholder (aka a big fucking pile of 1, 5, 10, and 25 cent coins) so if it weren't for pennies and nickels I'd probably have skipped lunch[/QUOTE] what a great and convincing argument for keeping coins

The real reason I'm pissed off is the manufacturing cost of the nickle/penny. The nickle costs roughly 11.7 - 12 cents to produce, while the penny costs 2.4 - 3 cents to produce. What's even more retarded is the dime costs roughly a nickle(5 cents) to produce. As it stands the question isn't really, "Shouldn't we be keeping them for ease of transaction?" its more on the line "Why are we keeping something which costs more to produce while the higher valued currency[dime/quarter] has manufacturing prices which are drastically smaller then their actual value. The nickle? It can be saved or phased. The penny should die though because it's too little of value to base on a material currency.