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Treasury Transforms to New Identity, As Your Pennies Will Be Cut Off to Reduce Waste
- Thread starter 0neAnd0nly
- Start date
Hawking Radiation
Member
StreetsofBeige
Gold Member
Canada did it long time ago. Nobody cared and life goes on.
What happened was all payments using cash are rounding up or down to the nearest nickel. So $6.72 is rounded down to $6.70, and $6,73 is rounded up to $6.75. But if you pay digitally, the exact amount is billed (ie. $6.72).
Great change. No more pennies bogging down your pocket if someone if someone likes paying cash.
0neAnd0nly
Member
Check your preferred news source to see how you should feel!
0neAnd0nly
Member
This is a great point. I struggle to fit my Pennies into my pants very well, this will help with that!
DonkeyPunchJr
World’s Biggest Weeb
I remember this being proposed like 20 years ago. The only argument I heard in favor of keeping the Penny was that some charities rely on people donating their loose change.
Now I bet some people are going to be furious about it.
Now I bet some people are going to be furious about it.
PSYGN
Member
I don't know why my autocorrect keeps doing that
Darkmakaimura
Can You Imagine What SureAI Is Going To Do With Garfield?
Why just think, we will be a penniless nation.
AJUMP23
Parody of actual AJUMP23
People are just cheap.
Rentahamster
Rodent Whores
HoodWinked
Member
but how can they make this racist or sexist.
TheInfamousKira
Reseterror Resettler
Glad he was the one to coin this change. Of all the loose ends to cut, this one make the most cents. Honest Abe, I think this is gonna be one of those calls that people look back on 15 years down the line and say "my clean, changeless wallet looks pretty as a penny!" Anyway, just my two cents. Opinion is currency in the right market, after all.
ClanOfNone
Member
Abe Lincoln freed the slaves and he is on the penny, this clearly is just the first step to reimplement slavery.
Too bad, the old man on Pawn Stars missed out. He was waiting for something like this so he could melt down all the pennies he stored up and sell them for the value of the metal. (I think it's still illegal to melt pennies down for the copper and he had a lot of the old copper pennies.)
I could also make the comment it'd be great if we just got rid of cents completely. Hopefully that would stop software developers from storing money as floats.(For those that don't program the vast majority of software developers don't know what floats are for. It's rare for any explanation of floats to even come close to what they're for.)
Unknown?
Member
In 50-75 years they'll probably get rid of the dollar too. 100 years ago this would be inconceivable.
I understand why they are doing this, I just wish they would ask themselves why the penny is so worthless and try to bring purchasing power back to the dollar.
Trump tells Treasury to stop minting 'wasteful' pennies
The US President cites rising costs as the reason for discontinuing production of the one cent coin
www.bbc.co.uk
It's costing you 3.69 cents to make 1 cent coins. Why weren't they scrapped or changed years ago? At least have a pause on new ones and a drive to spend the current ones sitting around to get them into circulation.
VulcanRaven
Member
Reminded me of this 17 year old video:
Last edited:
Unknown?
Member
100 years ago a dollar was defined as 1/20th of an ounce of gold. A $20 bill was a claim check(much like a tag for a shirt at a dry cleaner) for a one ounce gold coin. It was so valuable a penny could buy tons of stuff.Trump tells Treasury to stop minting 'wasteful' pennies
The US President cites rising costs as the reason for discontinuing production of the one cent coinwww.bbc.co.uk
It's costing you 3.69 cents to make 1 cent coins. Why weren't they scrapped or changed years ago? At least have a pause on new ones and a drive to spend the current ones sitting around to get them into circulation.
Now the dollar is so devalued we are flirting with(and soon will hit) $3000 an ounce of gold. Sad times!
Didn't an American President forcibly confiscate it's citizens gold?
kruis
Exposing the sinister cartel of retailers who allow companies to pay for advertising space.
Idleyes
Gold Member
Pennies are brown. They are getting ride of the brown coins.
Hope that helps.
Edit for the pedantic: They turn brown over time.
Last edited:
Unknown?
Member
Yes and that's what killed the gold standard and the dollar's future. Turning it from defined as gold to fiat currency.
Idleyes
Gold Member
Americans lost the gold standard as a side effect of Nixon's attempt to stop foreign nations from depleting U.S. gold reserves. At the time, a large number of foreigners were exchanging dollars for gold, putting pressure on the system. In an effort to protect U.S. gold reserves, Nixon killed the gold standard.
WhamBamThankYouMaam
Member
”To reduce waste” 
Unknown?
Member
That was the final nail but confiscating gold and making it illegal to own more than 5 ounces was the real death. Currency that's not redeemable by what backs it makes the backing worthless.
Foreigners were doing that because America clearly didn't have enough gold for the dollars which is why the dollar was valued as less.
Every consumer retail place could EASILY adjust their prices to eliminate the need to consider the penny. The old "$19.99" pricing trick for example, is just stupid. Factor in the tax and make that the mandatory listed price.
How much copper is in a penny these days? I know pre-1964 coins (dimes and quarters anyway) are valued for their silver content, wonder if pennies will become worth it for copper harvesting. Nickles....we've probably minted enough to last us a generation or two.
How much copper is in a penny these days? I know pre-1964 coins (dimes and quarters anyway) are valued for their silver content, wonder if pennies will become worth it for copper harvesting. Nickles....we've probably minted enough to last us a generation or two.
daffyduck
Member
You mean they don't scale back and forth using Ints?
As for getting rid of the Penny, they should've locked step with the Canadians years ago.
DonkeyPunchJr
World’s Biggest Weeb
The only use for pennies is to avoid getting more pennies back as change.
Really they should be using ints for money and use the cent or tenth of a cent as the atomic unit of currency. Too many developers will just use a float because "well it's got a decimal place." (Not getting that floats are scientific notation for computers and as soon as you start using scientific notation you really should understand the concept of significant figures. I literally talked to a guy who was interviewing me that didn't understand it which made things weird.)
daffyduck
Member
lughnasadh123
Member
4-5 dollars for a dozen eggs means I probably won't give a flying flurp about pennies going away.
daffyduck
Member
ChuckeRearmed
Member
No more pennies?
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