Is it time to stop using Pennies. Yes, the government should stop using Pennies.

[steve323]

Originally Posted by Glidergider Maybe they're concerned that removing the penny would alert us that inflation has run rampant in the last 50 years. Over 1000%.

It would take a 4.7% inflation rate "running rampant" over 50 years to add up to 1000%

Steve

[Glidergider]

I'd rather see inflation at 1%, but you got me, 4.7 is not so big a number. That's why I'm not ragging on our government for inflation. I'm just wanting to retire the penny. It served valiantly for over 200 years. But it's unit of value is so small compared to our current day earnings, that we really don't need it any longer.

[thkoutsidthebox]

You should make this a poll. I'd like to see how many other sensible people are out there who realise the penny should not go.

[harryn]

Perhaps taking this idea a bit further - we really only need 2 coins to do our transactions.

Examples
- Nickel and quarter
- Nickel and dime

The rest are not needed and only add to clutter and cost.

For the countries where the US penny still has a real need, there are plenty of them in circulation now, or they can make their own. If the EU feels the need, they can keep making all of these coins.

I was in Germany on the day that they switched to the Euro - pretty amazing acceptance level, and it certainly has made my life easier on business trips in Europe.

The part I just don't get - why so many coins ? 1,2,5, 20 cents, then 1 Euro and for some reason I think there was even a 5 Euro coin - cannot remember. In any event, the net result was that people stopped using "real" currency and started using this silly "money on your card" system that no one wanted until the mass of coins in their pockets became overwhelming.

Don't get me wrong, I like the concept of the Euro, just ditch 1/2 of the coins. Same advice for us.

[thkoutsidthebox]

COINS: 1c,2c,5c,10c,20c,50c,€1,€2.
NOTES: €5, €10, €20, €50 .... hummm...I never get to see higher than that! We poor folks need the pennies, but get rid of everything bigger than a €50/$50 note !