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 Anyone Hear About The Decontinuation of Pennies?

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Riku The Surfer

  • Total Posts: 31
  • Joined: 7/18/2006
  • Location: Marshall, MO
Anyone Hear About The Decontinuation of Pennies? Thu, 07/20/06 5:49 AM (permalink)
I read about it the other day. Something about they cost more to produce then what they are actually worth.

It's like $0.0134 or something like that to produce a penny..

Nickel is getting that way too with $0.0537...

Hope it's not being discontinued since I just started working at Wal-Mart and that would be hell to learn...
 
#1
    AndreaB

    • Total Posts: 1303
    • Joined: 12/6/2004
    • Location: Versailles, KY
    RE: Anyone Hear About The Decontinuation of Pennies? Thu, 07/20/06 9:46 AM (permalink)
    I saw that story. What are they going to do? Round everything up or everything down?

    Andrea
     
    #2
      Jimeats

      • Total Posts: 3175
      • Joined: 8/15/2005
      • Location: Ipswich Ma
      RE: Anyone Hear About The Decontinuation of Pennies? Thu, 07/20/06 11:15 AM (permalink)
      They won't get rid of them. What will happen to the penny candy store, the 99 cent sale, and all this and more for less than $40.00 your price $39.99 Wait if you act now there's more. The price of copper fluctuates with everything else. As in the past we will have a penny shortage untill they offer $1.05 for every dollar turned in then a whole bunch of people will start emptying the jars full of them at home to cash in on this bonanza. Then there will be a glut on the market. Also we could always go back to the war time penney. Chow Jim
       
      #3
        tmiles

        • Total Posts: 1910
        • Joined: 10/1/2004
        • Location: Millbury, MA
        RE: Anyone Hear About The Decontinuation of Pennies? Thu, 07/20/06 1:59 PM (permalink)
        Jim, I wondered about that wartime coin too. I suppose they could also just make it smaller, too. Vending machines and parking meters don't take pennies anymore anyway so a new small size would be no big deal. I agree, though, I don't see them getting rid of them anytime soon. It is more interesting for our congresspeople to debate this big issue than, healthcare, the national debt, the war, social security etc , etc.
         
        #4
          Gizmolito

          • Total Posts: 312
          • Joined: 10/18/2004
          • Location: New Whiteland, IN
          RE: Anyone Hear About The Decontinuation of Pennies? Thu, 07/20/06 2:35 PM (permalink)
          Getting rid of pennies makes no cents.
           
          #5
            mbrookes

            • Total Posts: 1350
            • Joined: 10/8/2004
            • Location: Jackson, MS
            RE: Anyone Hear About The Decontinuation of Pennies? Fri, 07/21/06 1:50 PM (permalink)
            Some people are already getting rid of pennies. I find the all the time, especially in parking lots. I've seen people, especially teens, deliberately throw them away

            It doesn't take long to have a dollar if you pick them up and put them in a jar. This may come from being very poor for a long time. I'm now over the poverty, but the penny pinching still hangs on.
             
            #6
              Pwingsx

              • Total Posts: 2170
              • Joined: 5/15/2003
              • Location: Somewhere in time...and Colorado
              RE: Anyone Hear About The Decontinuation of Pennies? Sat, 07/22/06 8:14 PM (permalink)
              I just cleaned out all my jars and bottles of pennies, dimes and nickels I've been collecting for the past few years.

              Sum total: $114.00

              It do add up.
               
              #7
                mayor al

                • Total Posts: 15066
                • Joined: 8/20/2002
                • Location: Louisville area, Southern Indiana
                • Roadfood Insider
                RE: Anyone Hear About The Decontinuation of Pennies? Sat, 07/22/06 8:38 PM (permalink)
                Now and then the "end" of the penny is forcast for the near future due to the reasons you have explained. However when it comes right down to it, the vote always seems to reinstate the Penny in the Hall of Fame for currency. Some have said that the Illinois vote counts a lot in the preservation effort.

                I do the "loose change into the Casino Cup" both here at the computer desk and on my dresser in the bedroom. When the cups get close to full I stop in at the local bank and they run it thru the sorter/counter..returning the Canadian coins. I prefer that to the supermarket-service machine where they take a percentage to do the sorting for you. It really doesn't take long to fill a couple of those cups .
                 
                #8
                  V960

                  • Total Posts: 2429
                  • Joined: 6/17/2005
                  • Location: Kannapolis area, NC
                  RE: Anyone Hear About The Decontinuation of Pennies? Mon, 07/24/06 10:10 AM (permalink)
                  The penny is worth more as raw copper than as legal tender.

                  One thing I took way from my perrsonal finance class in college is "green back savings". Never have coins. They are tossed into a jar each day. About eight to thousand dollars each year.
                   
                  #9
                    Sundancer7

                    RE: Anyone Hear About The Decontinuation of Pennies? Mon, 07/24/06 10:25 AM (permalink)
                    Al, I do as you do. I toss the loose change in a container. I have my own coin sorter. I paid for a sail boat a few years ago with the sorted change. The person I bought it from was not too happy about receiving about a hundred pounds of coins but I guess that the money overcame the discomfort of heavy money

                    Paul E. Smith
                    Knoxville, TN
                     
                    #10
                      AndreaB

                      • Total Posts: 1303
                      • Joined: 12/6/2004
                      • Location: Versailles, KY
                      RE: Anyone Hear About The Decontinuation of Pennies? Mon, 07/31/06 7:16 AM (permalink)
                      We too toss all of our coins into a jar each day. They add up quickly. It's amazing the change you can find in store parking lots, including quarters and dimes. I always pick up loose change when I see it on the ground, even if just a penny. I think some people are in such a hurry that if they drop change they just let it go.

                      Andrea
                       
                      #11
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