Bad Penny
Do you care that the call for elimination of the penny has gone out once again? Citizens want to get rid of the penny because it costs more to make than it’s worth. According to the US Mint, each year the government spends $134M to make 8 billion pennies or $80,000,000.
I have to admit, I really don’t respect the penny myself. Unlike the government, I know when to count my losses. If a penny of mine falls on the ground, I know it’s going to cost me more energy to pick it up than it’s really worth, so I leave it there. Why is this an issue and what is your relationship with the penny? Should we keep it or toss it?
Before you decide the penny’s fate, here are a few phrases in the English vernacular that actually need the penny to stay alive:
“A penny for your thoughts”
“Penny pincher”
“Just my 2 cents”
“Every penny counts”
“Penny stocks”
“My lucky penny”
“Penny loafers”
“A penny saved is a penny earned”
If inflation can do this to a penny, soon we won’t have two nickels to rub together. It costs $124M to make 1.3 billion nickels that are only worth “half that much.” Heck, even the nickel isn’t worth a dime!
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My name is Valerie aka Natural and I will be writing about whatever is on my mind. I love teaching, dialogue, sharing and making people laugh. I never know what I'll share here but this is me, Thinking Out Loud.
This is so bizarre. While waiting for an elevator yesterday next to the deli where I work, I overheard a customer talking to the cashier about how pennies cost more to make than they’re worth. Then the customer went into the whole nickel problem as well.
My vote? I have no need for pennies or nickels, but I like my dimes and quarters. Dimes because they’re small and quarters because they’re still worth a little.
Kathy’s last blog post..We Were Almost a Nielsen Family
Hey Kathy, I agree get rid of the penny and hey throw the nickel in there too. Yesterday I dropped a nickel on the ground and didn’t pick it up, probably because it rolled underneath my car. Again, it wasn’t worth the bend and reach.
wait- seriously? They’re going to take away pennies?
but.. but..
true I hardly use them. But still.. that just feels weird.
are they going to make some new coin then?
JEMi @ InMyHeels’s last blog post..Ending a Bad Relationship
Hi Jemi, yes the penny is in danger, but isn’t there some saying that says what doesn’t kill you makes you stronger. People have been trying to off the penny for years and it won’t die. It’s like God and Email..it may just live forever.
No new coin, we will just walk around penniless!
Hey - pennies is all I got! Another bad investment on my part.
BTW, I have tagged you with a meme called “Five Little Bits.” Hope you don’t mind.
- s
Steve’s last blog post..Five Easy Pieces
I know what you mean Steve..I have a bunch of pennies around the house, no paper money though.
Okay, your meme is done, thanks for telling me. I actually had fun doing it and easier than I thought….it should appear in several days.
I’m all for getting rid of the penny. Most of the ones I get as change are always discolored and nasty. Who wants to touch that?
But really, if they do get rid of the penny won’t they have to make price adjustments so nothing requires you to use one? That seems like a lot of trouble. And I can’t say for sure, but it also sounds like something that won’t be all that easy to achieve.
Jillian’s last blog post..Jillian and the Inescapable Lies… Lies!
Yes, Jillian, my loquacious and verbose friend, the prices of things will have to be modified. No more 5.96 and 4.99. Even when stuff was .99 cents in the store, the person behind the counter NEVER gave me my penny back.
Pennies don’t seem to have a lot of value, but they do add up.
I heard a story of a rich man who picks up pennies off the ground whenever he sees them, and then smiles. When asked why he bothered, he said, “Because they are printed with “In God We Trust”, and it was a great reminder for him.
I don’t know if it is a true story, but I now do the same thing.
Barbara’s last blog post..Blogger Exposes Herself - Traffic Soars
I think I could live without pennies, nickels, and dimes. If we only kept the quarter as a coin, everything could be rounded to either 25, 50, or 75 cents.
Of course, here in Canada, we have come to realize that coins are more economical to produce than dollar bills. They last longer and are more durable. We have already one and two dollar coins instead of bills.
The future might just be in credits like a science fiction movie. There may be no such thing as tangible money in the future. That is what scares me. I mean, garage sales would be in danger of disappearing then. That would be a shame.
Chase March’s last blog post..The Third World is Right Here!