The government should stop making pennies
- Thread starter Sav Scorcese
- Start date
Yeah I heard about this 6 months ago. There are even celebrities that are trying to protect the penny (like Keven Federline haha). Virgin mobile is starting a campaign to send text messages for only a penny, in order to try to help keep it around.
There's a lot to be said about this, but some people think that if the US just rides it out, the cost of the raw materials (i.e. zinc) will go back to normal. If not, instead of doing away with the penny, they can just change the materials used in it.
They've already done it. Today instead of a penny being 100% copper, its like 99% zinc with some copper or something. They just have to find a newer, cheaper metal.
On the otherhand, inflation is starting to make the penny obsolete to begin with.
The other problem is that the US wouldn't have to produce so many pennies, except people dont spend them. Most people will save their pennies in a jar and hoard them, and the only way to keep pennies in actual circulation when this happens is to produce more of them.
Maybe if people wouldnt do stupid shit like save all their pennies, destroy pennies to make jewelry, or create a bar made entirely out of pennies (I saw in Maxim a few years ago) the need for them wouldn't be bad to begin with.
There's a lot to be said about this, but some people think that if the US just rides it out, the cost of the raw materials (i.e. zinc) will go back to normal. If not, instead of doing away with the penny, they can just change the materials used in it.
They've already done it. Today instead of a penny being 100% copper, its like 99% zinc with some copper or something. They just have to find a newer, cheaper metal.
On the otherhand, inflation is starting to make the penny obsolete to begin with.
The other problem is that the US wouldn't have to produce so many pennies, except people dont spend them. Most people will save their pennies in a jar and hoard them, and the only way to keep pennies in actual circulation when this happens is to produce more of them.
Maybe if people wouldnt do stupid shit like save all their pennies, destroy pennies to make jewelry, or create a bar made entirely out of pennies (I saw in Maxim a few years ago) the need for them wouldn't be bad to begin with.
Coinstar loves my pennies and so those the bank teller at BofA! BUt yeah pennies are somewhat obsolete when i'm out shoppin or buying stuff. The only time i use them is when i have the exact change, other than that i usually keep them in a big ass 1 gallon glass jar or i'll keep 'em around in my car for the drive-thrus.
