Posted on 03/31/2017 8:19:18 PM PDT by Tolerance Sucks Rocks
And that is the point that everyone is missing. Who cares if it's paper or metal? The point is that it only has value as long as people value it. In other words, as long as they have faith in its value.
Very soon, that faith will erode, either through debt repudiation or inflation, which is another form of repudiation. At that point it doesn't matter what form the currency takes. It is all fiat money and, in the end, worthless.
Either get rid of the dollar bill or get rid of the dollar coin. Makes no sense to have both.
Yes, eliminate the penny - it costs more to produce than it is worth. Once it is gone, merchants will adjust - manually or with their “check out machines” software - to round or truncate amounts to the nearest nickle (round up if it’s 3 or 4 cents, truncate down if it’s 1 or 2 cents).
As to the paper dollar, I would see what cost savings there would be by melting down and eliminating the dollar coins - I hate them. I’d much rather carry a few dollar bills than any dollar coins. We’ve even, thankfully, had some train ticket machines converted from dispensing dollar coins in change to dispensing dollar bills.
So do about half the U.S. population.
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You are not allowed to eliminate the penny when I am charged 7.25% sales tax.
Flat 5% or 10%, then we can discuss eliminating pennies.
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Gee, I wonder which way govt would go? /s
>Strippers and exotic dancers hardest hit.
That is not the ‘$.01 slots’ they’re talking about...
Plus, I want to know where YOU go...to avoid the place(s) /s
How about a $2.56 note. Then we can be amused watching the clueless morons in stores try to make change. Call it the Snowflake bill. Decorate it with clowns, Che T-shirts, gang-bangers holding glocks sideways, aiming at mooslim females with rainbow-colored vaginas on their heads. It would be the most politically correct currency in the world.
This is merely an incremental move on the path to abolish currency, thus further enslaving citizens to the Federal Reserve - which is neither federal nor a reserve. Once the dollar is gone, it will force more and more people to start using debit cards and credit cards, which they will then use as an excuse to eliminate $5 and $10 bills, then twenties and it’s over. USAID pushed India to do this to see how it will work here.
Silver quarters could be reintroduced as silver $5 pieces. How’s that for inflation!
YES! The dollar coin WILL BE accepted once the bills are gone.
Bring back the $2 bill.
All sales rounded up or down to the nearest nickel.
Math calculations and digital transactions not affected by elimination of the penny. Only CASH transactions affected by the Penney.
I currently THROW AWAY pennies. They are USELESS and take up valuable space in cash drawers that should be used for dollar coins.
I’ll bet the total amount of time and money WASTED on pennies is YUGE!!!!!
BAN PENNIES AND THE ONE DOLLAR BILL.....NOW!
Ban pennies and the people who have been hoarding pre-1982 copper pennies will melt them down to sell as scrap copper; the real copper penny is currently worth about 3 cents. Also, this destruction of nearly all copper pennies will make my Lincoln cent collection much more valuable.
You could also go straight to a two-dollar coin, like Canada did some years ago.
Canada rounds your change up or down to the nearest 5 cents. The last time I went there in 2015, I wanted to exchange some Canadian small change for Canadian quarters, and the small change included pennies. The person seemed surprised, apparently about the pennies, but went ahead and included the pennies in the exchange.
I don’t think India worked very well. They scrapped their old 500-, 1000- and 2000- rupee notes, supposedly to prevent their use in black market activity, but shortly created new 500- and 2000-rupee notes.
Or a $2.55 note, to represent all the combinations of 0’s and 1’s you could have in an 8-bit computer byte.
As long as they put $500 and $1000 dollar bills back into general circulation, that’s always a plausible option.
Quite possible. Our mission is to oppose such a thing, of course, by using cash wherever possible.
I’m sure they can switch out or adjust the coin receptacles in the old machines.
We could always replace Sacajawea and the other personalities on the dollar coin with George Washington.
True. Scrip and slugs supported only by our faith in the system. If our faith collapses, they will be mere trinkets while we exchange TP for food.
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