Bid Farewell to Pennies and Nickels!

Wealth Wire ^ | , November 26th, 2012 | Brittany Stepniak

[angelcindy]

The U.S. is following Canada's footsteps regarding the production of pennies and nickels. According to U.S. Treasury Secretary Tim Giethner, our U.S. Mint intends to remove the penny and nickel coins from circulation beginning early in January 2013.

[Graybeard58]

Reminds me of my high school years in the sixties. A good cheeseburger or sandwich was 30 cents. A deluxe cheeseburger on a french roll was 36 cents. Fries were 17 cents, milkshakes were 19 cents. Never really had to use paper money, just change to buy lunch.

In the 50s when I started smoking, there was a cigarette machine in the local pool hall that you had to put two dimes in, pull the knob and out comes a pack of butts with three pennies change inside the outer wrapper.

Also, nobody cared how old you were as long as you could reach the coin slot.

[Orbiter]

I can’t make sense of your 2 cents.

[Graybeard58]

Beelze, schmeelzel, are you guys related?

Beelzebubba, I know, he was the recipient of some of my hell fire peppers a few years back. I grew those peppers on the shore of the lake of fire.

[Orbiter]

Ramstein AFB ca.1965: Movie+Popcorn+Coke=$0.25

Charlotte, NC last week: Movie+Popcorn+Coke=$15.50

Anywhere, USA ca. 2014: Movie+Popcorn+Coke=$199.99

[dmz]

it has been even more bizarre to me to realize that the majority of people I circulate among every day are either generationally manipulative, grossly uneducated or mentally ill

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I’m amazed it’s taken you this long to come around.

And think about it, start mixing and matching those conditions as happens out there in the world.

[blam]

In Debt Up To Our Eyeballs (Kyle Bass Has 20 Million Nickels)

[Evil Slayer]

It begins with the penny and the nickel. Next, it will be the dime, quarter, dollar and eventually all coined and printed currency. Banks will stop offering checks to their customers. Next, the domino effect will cause credit cards and debit cards to be the norm. Inflation and double digit recession and depression will set in and people won't be able to afford the fees to use them.

What I'm leading up to is at some point and time, the government will be in total control of your money transactions and will require you to use a government card to buy and sell your goods.

Does the "Mark of the Beast" ring a bell?

[SandRat]

We bid alohah to the 1¢ and 5¢ postage stamp long ago.

[zeugma]

It’s well past time for this. Time to remove the $1 bill and start printing $500 and $1000 notes.

[Grams A]

so what happens if something costs $1.99?
Does one pay $2.00 or $1.90?

Three guesses and the first two don’t count. Our local sales tax is 8.25%. There will be a whole lot of rounding up going on. You’d be surprised how much this will add to the state coffers everywhere over a given period of time.

[zeugma]

ply receive dollar coins anywhere you had been receiving singles. To their credit, Canada very quickly modified their vending machines, video games and such when they replaced the $1 and $2 bills with coins; I think it went smoothly.

Almost all vending machines accept the dollar coins. I use them all the time because they are a heck of a lot easier to deal with than dollar bills.

[elkfersupper]

I’m amazed it’s taken you this long to come around.

I "came around" in about 1974.

[RWB Patriot]

And they’ll go up in value just like junk silver did. Not as much, but more than a nickle is usually worth.

[ex91B10]

What about the tax man? How much of this "rounding up" will be get above and beyond the statutory amount?

Impeach the kenyan or secession.

[PghBaldy]

GREAT time to raise prices on all Americans who use coins. Minorities and the elderly, hardest hit.

[MeganC]

“The real question and quandary is, what will happen to the penny/nickel bubblegum machines?”

We have an old penny bubblegum machine and the kids have to use the pennies they pick up off the street to buy them. Keeps the kids frugal and also keeps their eyes open for money. When we went to SLC one time one of the kids spotted four $20 bills folded together and picked them up. That went in her college fund.

[Star Traveler]

There can be a couple or so ways to do it. First, you can simply use a debit or credit card.

Or, the store may issue an in-house card for just “cents on the dollar” - and you get it for either $1 or $2 (loaded on the card) and then you just subtract it off the card as you make purchases. Eventually you reload it again.

Or the store can simply issue you a receipt with a scan code on it (stores already do this to “recall” purchases in their system on your receipts). The receipt issued to you is simply the odd-cents-change from some purchase you overpaid by a few pennies. The “overpayment” is contained on the receipt and you bring it the next time and submit it to the machine (or cashier) to use it.

Any one of those ways would be easy enough to do and use so that stores would not have to be concerned about the odd cents on totals for purchases.

[editor-surveyor]

I’ve poured keels a few times. Had to use several quarts of heavy weight motor oil as a flux to be sure the layers would solder together.

It does a pretty good show of colors as it smooths out, especially with the oil.

[editor-surveyor]

Silver coins went up in value due to inflation.

[editor-surveyor]

>> “Says he feels silly doing it, but it’s better than a fee.” <<

.
I’ve never had a card that had a fee; did he have credit problems?