Comments on: Penny Costs 1.82 Cents to Make in 2017, Nickel Costs 6.6 Cents; US Mint Realizes $391.5M in Seigniorage https://www.coinnews.net/2018/02/26/penny-costs-1-82-cents-to-make-in-2017/ CoinNews delivers the latest World and US coin news Thu, 09 May 2019 20:10:11 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Caleb https://www.coinnews.net/2018/02/26/penny-costs-1-82-cents-to-make-in-2017/#comment-448291 Thu, 09 May 2019 20:10:11 +0000 http://www.coinnews.net/?p=66380#comment-448291 If we still had our dollars tied to 0.7734 OZ of silver, then the penny would still be worth about the same as a dime is today. That’s the solution. Endless devaluation of currency never stops. Next century, the debate will be over whether we should still keep dollars around. “Nah, who needs dollars? Can’t buy anything with them!” –My great-great grandson.

]]> By: Damien https://www.coinnews.net/2018/02/26/penny-costs-1-82-cents-to-make-in-2017/#comment-440407 Wed, 20 Mar 2019 01:42:58 +0000 http://www.coinnews.net/?p=66380#comment-440407 The penny should be removed from circulation, When a seller comes up with an amount of .01 or .02 the seller charges .00 when the seller comes up with an amount of .03 or .04 he should charge .05
.01 or .02 it stays at .00
.03 or .04 it moves to .05

At the end of the day , the week or the year everyone comes out even

It has been adopted in Canada and it works very well

Why can t we?

]]> By: Vachon https://www.coinnews.net/2018/02/26/penny-costs-1-82-cents-to-make-in-2017/#comment-302595 Fri, 02 Mar 2018 00:15:25 +0000 http://www.coinnews.net/?p=66380#comment-302595 The sales tax argument doesn’t really make sense to me as an argument for keeping the one cent coin around. The business ultimately remits the tax to the state, not the individual, so it wouldn’t take much for either businesses to adjust prices on all their products/services to include the sales tax they expect to pay or for state governments to create a much smaller sales tax but applied to all sales of products/services from businesses that they then can remit quarterly to the state (with their pricing adjusted accordingly). The surcharge system as it exists now is silly.

]]> By: Larry Schmitt https://www.coinnews.net/2018/02/26/penny-costs-1-82-cents-to-make-in-2017/#comment-302329 Wed, 28 Feb 2018 18:58:40 +0000 http://www.coinnews.net/?p=66380#comment-302329 Old Collector: I couldn’t look myself in the mirror if I were elected. I have to be able to respect myself.

]]> By: Larry Schmitt https://www.coinnews.net/2018/02/26/penny-costs-1-82-cents-to-make-in-2017/#comment-302275 Wed, 28 Feb 2018 14:56:07 +0000 http://www.coinnews.net/?p=66380#comment-302275 Old Collector: That’s because that little old penny is a symbol of America’s unwillingness to adapt, and the outdated processes we have in place. Whenever Congress is involved, any change will be long in coming, expensive, and most likely unsatisfying to all.

]]> By: Larry Schmitt https://www.coinnews.net/2018/02/26/penny-costs-1-82-cents-to-make-in-2017/#comment-302240 Wed, 28 Feb 2018 11:56:24 +0000 http://www.coinnews.net/?p=66380#comment-302240 Munzen: Part of the problem, maybe the entire problem, is that Congress has to get involved for any changes to currency and coin to be made. I don’t think that’s the case in Canada. I don’t know about other countries. And Congress is definitely influenced by lobbyists (understatement), which is also why we still have one dollar bills instead of coins, and paper currency instead of polymer. Australia has led the world in polymer currency, and a lot of other countries have at least tried it on a few issues, including Canada and the UK. Instead, we continue to produce billions of one dollar bills each year to replace worn out paper bills.

]]> By: Maurice Taylor https://www.coinnews.net/2018/02/26/penny-costs-1-82-cents-to-make-in-2017/#comment-302116 Tue, 27 Feb 2018 23:34:49 +0000 http://www.coinnews.net/?p=66380#comment-302116 I collect Indian head cents..use to pay 50 cents for each one..many now worth over 100 dollars.
If they stop making pennies..my collection will be worth a lot more..please stop making the penny

]]> By: Munzen https://www.coinnews.net/2018/02/26/penny-costs-1-82-cents-to-make-in-2017/#comment-302115 Tue, 27 Feb 2018 23:05:38 +0000 http://www.coinnews.net/?p=66380#comment-302115 Larry:
Sweden’s not part of the eurozone but doesn’t have 1- or 2-cent equivalents. I haven’t been there since they started the transition to widespread electronic payments, but at the time I visited there was a national rounding law. Receipts had to show both the unrounded and rounded totals for verification.

Of course if something equivalent were tried here there’d be volcanic complaints about “government interference”, “taking away freedom”, etc. etc. etc. etc.

]]> By: Larry Schmitt https://www.coinnews.net/2018/02/26/penny-costs-1-82-cents-to-make-in-2017/#comment-302111 Tue, 27 Feb 2018 22:42:57 +0000 http://www.coinnews.net/?p=66380#comment-302111 In some stores, if your total ends in $.01, they don’t bother giving all that change, they give you a full dollar as if it were $.00. But not at self-checkout. The machines are exact.

]]> By: sam tweedy https://www.coinnews.net/2018/02/26/penny-costs-1-82-cents-to-make-in-2017/#comment-302092 Tue, 27 Feb 2018 19:46:07 +0000 http://www.coinnews.net/?p=66380#comment-302092 If you live in Florida and you are short a penny at checkout, guess what you don’t get your product too bad. Oh well it’s the south!!!

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