Pennies

Survey for school...Topic: Should pennies be abolished from the U.S.? Voicing reasons or opinions are optional

Survey for school...Topic: Should pennies be abolished from the U.S.? Voicing reasons or opinions are optional

[Babylon]

To make 5 pennies is 2.40 dollars.
This should give you your answer.

[Babylon]

To make 5 pennies is 2.40 dollars.
This should give you your answer.

[Godbody]

Pennies are useless & cost more to make than they're worth

1.7 cents for 1 cent being produced or something like that

Pennies USED to just be copper but that changed quite some time ago now they contain some copper, zinc, & a bunch of other shit but still cost more to produce than they're worth

& Crysis that math is completely off because if that was the case they would've stopped making pennies decades ago

[Godbody]

Pennies are useless & cost more to make than they're worth

1.7 cents for 1 cent being produced or something like that

Pennies USED to just be copper but that changed quite some time ago now they contain some copper, zinc, & a bunch of other shit but still cost more to produce than they're worth

& Crysis that math is completely off because if that was the case they would've stopped making pennies decades ago

[Obey]

Rid all change besides the quarter, shit's just annoying.

[Obey]

Rid all change besides the quarter, shit's just annoying.

[NOBLE]

I'm not sure if I buy that whole "cost more to produce" argument all the way. I think getting rid of the penny is primarily a way of getting people to spend more. They've already implemented it here in Canada for a year now and when they were discussing implementing it beforehand, I remember how they were saying how much more the government would make in sales tax just by getting rid of the penny. The reason why I'm sceptical that how much it costs to make the penny is a primary reason is: what are they doing with all the old pennies that are taken out of circulation? Don't they simply remelt them and make new pennies? It's not like they have to keep going to mine new copper every time they need to make a penny. Of course whoever is manufacturing pennies can charge however much they want to charge, but if they're using recycled material, I don't see how it's inevitable that the cost of making a penny can't be reduced to less than the value of a penny.

[NOBLE]

I'm not sure if I buy that whole "cost more to produce" argument all the way. I think getting rid of the penny is primarily a way of getting people to spend more. They've already implemented it here in Canada for a year now and when they were discussing implementing it beforehand, I remember how they were saying how much more the government would make in sales tax just by getting rid of the penny. The reason why I'm sceptical that how much it costs to make the penny is a primary reason is: what are they doing with all the old pennies that are taken out of circulation? Don't they simply remelt them and make new pennies? It's not like they have to keep going to mine new copper every time they need to make a penny. Of course whoever is manufacturing pennies can charge however much they want to charge, but if they're using recycled material, I don't see how it's inevitable that the cost of making a penny can't be reduced to less than the value of a penny.

[NOBLE]

Originally Posted by Jason

a process that costs money

i see what you mean but i think when you consider how much it costs to power a factory, keep employees to run it .. hire managers to supervise it .. etc .. its very feasible that it costs way more to make than it is worth

I don't have any doubt that it actually does cost them way more to make the penny than it is worth. My point is I don't think that is inevitable. The production process can be optimized in a certain way, they can replace employees with robotics, etc. I'm just certain there must be a way, especially if they're using recycled old pennies, where they can reduce the cost so making a penny doesn't have to cost more than the value.

[NOBLE]

Originally Posted by Jason

a process that costs money

i see what you mean but i think when you consider how much it costs to power a factory, keep employees to run it .. hire managers to supervise it .. etc .. its very feasible that it costs way more to make than it is worth

I don't have any doubt that it actually does cost them way more to make the penny than it is worth. My point is I don't think that is inevitable. The production process can be optimized in a certain way, they can replace employees with robotics, etc. I'm just certain there must be a way, especially if they're using recycled old pennies, where they can reduce the cost so making a penny doesn't have to cost more than the value.

[Denton]

Make all money completely electronic

[Denton]

Make all money completely electronic

[Óðinn]

For a broke bastid like me, pennies is all i have... lol

[Óðinn]

For a broke bastid like me, pennies is all i have... lol

[Student]

Do They Even Make Pennies Anymore? If They Do, They Should Just Stop (For Obvious Reasons) I'm Fairly Sure They Have Enough In Circulation Already To Keep Us Sustained.

[Student]

Do They Even Make Pennies Anymore? If They Do, They Should Just Stop (For Obvious Reasons) I'm Fairly Sure They Have Enough In Circulation Already To Keep Us Sustained.

[Mr-Felon]

yes i have some brand new 2014 pennies they are still making them lol

[Mr-Felon]

yes i have some brand new 2014 pennies they are still making them lol