Getting rid of Pennies

[Gromdor]

https://www.msn.com/en-us/money/markets/donald-trump-s-penny-proposal-would-eliminate-1-in-2-coins-minted-in-the-u-s-but-nickels-are-the-real-villains/ar-AA1yOvIA?ocid=BingNewsSerp

So Trump wants to get rid of pennies because they cost more to make than what they are worth.  I actually agree with him on this, but I am a bit biased as I am already operating pretty much cashless in my life with digital payments.

Inflation over the years has gotten to the point were pennies are useless.  My kid doesn't even pick them up anymore (or nickles or dimes) because things he wants (video games and even candy) costs multiple dollars.  At the gas station, I see people regularly just leave their change behind, too.

Heck, even dollar stores are going out of business and becoming $5 stores.

I know change helps the poor who already struggle paycheck to paycheck.  It allows them to maximize their money.  I suppose it helps the poor redeem cans and the like too.  

[Guyver]

I save up all my pennies until I have a large jar full, then dump them into the machine and turn them into dollars.

[HandsomeGorilla]

They've been entertaining this for a long time, I'll be glad if they actually do it. 

[Unusual Tournament]

 

[Gromdor]

1 hour ago, Guyver said:

I save up all my pennies until I have a large jar full, then dump them into the machine and turn them into dollars.

As someone who still uses pennies, would getting rid of them hurt you?

[Guyver]

9 minutes ago, Gromdor said:

As someone who still uses pennies, would getting rid of them hurt you?

I don’t think so.  It’s prolly not a bad idea.

[Kittens Are Jerks]

Getting rid of pennies is a good idea. We got rid of ours in Canada more than a decade ago, but they remain legal tender. Prices are rounded off when paying with cash, so if something is priced at $1.99 you'll pay $2.00 for it. If the item costs $1.02, you pay just $1.00.

[Oniomancer]

3 hours ago, Gromdor said:

Inflation over the years has gotten to the point were pennies are useless.  My kid doesn't even pick them up anymore (or nickles or dimes) because things he wants (video games and even candy) costs multiple dollars. 

Sounds like your kid needs to learn the value of savings.

[jmccr8]

Pennies in my country are collector items like $1.00 bills

[Gromdor]

2 hours ago, Oniomancer said:

Sounds like your kid needs to learn the value of savings.

Tell me about it.  It's hard to teach a ten year old about compound interest and savings when Grandma or his cousin come flying in for their yearly visit and buy him Nintendo Switches and half a dozen games at $50 a pop.  Those two spoil him something rotten.

[Tatetopa]

It does seem like a good idea.  A nickel costs more to make than its worth too. Think of all that copper alloy that can be turned into something else.

I get the part about savings, but the penny's  time is passed for that purpose.  My depression era granny saved balls of string, rubber bands, and tinfoil too. In those days, a penny could buy bubble gum, a nickel bought a candy bar and a dime bought a bottle of pop.

[CrimsonKing]

35 minutes ago, Gromdor said:

Tell me about it.  It's hard to teach a ten year old about compound interest and savings when Grandma or his cousin come flying in for their yearly visit and buy him Nintendo Switches and half a dozen games at $50 a pop.  Those two spoil him something rotten.

You can always go to a coin dealer and purchase a single penny for him that is worth more than all his video games combined...

That'll teach him  😆

[Gromdor]

18 minutes ago, CrimsonKing said:

You can always go to a coin dealer and purchase a single penny for him that is worth more than all his video games combined...

That'll teach him  😆

I already gave him a coin collection with coins from all the countries I've been in over the years.  I've even told him about an unlimited Black lotus card from Magic the Gathering that I used as a book mark in one of my books and lost.  He showed no interest in looking for it.  (The wife did and we never did find it).

 https://mtgprice.com/sets/Unlimited/Black_Lotus

I had three at one time.  Who knew that cards would be worth more than cars?

[CrimsonKing]

1 minute ago, Gromdor said:

I already gave him a coin collection with coins from all the countries I've been in over the years.  I've even told him about an unlimited Black lotus card from Magic the Gathering that I used as a book mark in one of my books and lost.  He showed no interest in looking for it.  (The wife did and we never did find it).

 https://mtgprice.com/sets/Unlimited/Black_Lotus

I had three at one time.  Who knew that cards would be worth more than cars?

I literally just recently purchased a Larry Bird rookie card...no doubt, it's amazing what some things are worth now days!

I have a few collectibles from when I was a kid,that said,in the 90's we didn't grow up in a completely digital world.

[HandsomeGorilla]

8 minutes ago, Gromdor said:

I already gave him a coin collection with coins from all the countries I've been in over the years.  I've even told him about an unlimited Black lotus card from Magic the Gathering that I used as a book mark in one of my books and lost.  He showed no interest in looking for it.  (The wife did and we never did find it).

 https://mtgprice.com/sets/Unlimited/Black_Lotus

I had three at one time.  Who knew that cards would be worth more than cars?

The most expensive one, an Alpha one graded 10, sold for 3 million not long ago. 

I never had one because they were banned by the time I started playing, but I remember a few guys having them. At the time, one in well played condition went for about $400, but no one thought they'd be worth as much as they are. If guys had cards, they typically played with those cards, so finding unplayed ones was very rare. 

When I get nostalgic, I'll sometimes watch this guy on YouTube open old packs. He's pulled more than one Lotus and I love watching his reactions. 

 

Edited February 11 by HandsomeGorilla

[Buzz_Light_Year]

I've read about some people using pennies and nickels as washers by drilling a hole in them. Cheaper than buying washers. 

[jmccr8]

7 minutes ago, Buzz_Light_Year said:

I've read about some people using pennies and nickels as washers by drilling a hole in them. Cheaper than buying washers. 

Hi Buzz

Here drilling holes in coins is considered a crime but yes a man will do what needs to be done

[CrimsonKing]

8 minutes ago, Buzz_Light_Year said:

I've read about some people using pennies and nickels as washers by drilling a hole in them. Cheaper than buying washers. 

I've seen a few pieces of "folk art" put together with those before.

[CrimsonKing]

1 minute ago, jmccr8 said:

Hi Buzz

Here drilling holes in coins is considered a crime but yes a man will do what needs to be done

Yeah think it is here as well, hopefully the people who use that method don't get their junk seized by officials lol

[Buzz_Light_Year]

Trump is getting rid of pennies because he's jealous of Lincoln. Ya just can't make this crap up. 

 

[+Link of Hyrule]

Australia stopped making 1c and 2c coins in 1990... America is just following our lead. 

[qxcontinuum]

Canada has stopped producing pennies for the same reason over 10 years ago

[psyche101]

2 hours ago, Link of Hyrule said:

Australia stopped making 1c and 2c coins in 1990... America is just following our lead. 

Told you we do everything better. 

Will you ever learn. I do wonder. 

[CrimsonKing]

9 minutes ago, psyche101 said:

Told you we do everything better. 

Will you ever learn. I do wonder. 

From the place that gave of "Foster's it's Australian for pizz" 🤣 

Jk man,we have plenty of American "Foster's" as well... Budweiser for example lol

[psyche101]

8 minutes ago, CrimsonKing said:

From the place that gave of "Foster's it's Australian for pizz" 🤣 

Jk man,we have plenty of American "Foster's" as well... Budweiser for example lol

We are going to let everyone know soon that fosters was actually an April fools joke gone wild .......

PA/LINK loves it when I remind him of how lucky we are, my post will make his day no doubt about it .....