Comments on: A Penny Saved Is Not Worth Much

By: Useless Metal: Why Do We Still Keep the Penny Around? « Anacristina79's Blog

Sun, 19 Jun 2011 15:40:23 +0000

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By: Useless Metal: Why Do We Still Keep the Penny Around? - wehaveways's posterous

Useless Metal: Why Do We Still Keep the Penny Around? - wehaveways's posterous — Sun, 19 Jun 2011 14:38:24 +0000

[…] A penny saved is an economically useless, environmentally ruinous lump of zinc in your pocket. So why are pennies still around?Source:http://ecosalon.com/a-penny-saved-is-not-worth-much/ […]

By: Why Do We Keep the Penny Around? | EcoSalon | Conscious Culture and Fashion » WinCom7 Blog

Sun, 19 Jun 2011 12:57:13 +0000

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By: Useless Metal: Why Do We Still Keep the Penny Around? « Paola comenta

Useless Metal: Why Do We Still Keep the Penny Around? « Paola comenta — Sun, 19 Jun 2011 12:54:29 +0000

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By: Useless Metal: Why Do We Still Keep the Penny Around? - ladyblu's posterous

Useless Metal: Why Do We Still Keep the Penny Around? - ladyblu's posterous — Sun, 19 Jun 2011 10:14:20 +0000

[…] A penny saved is an economically useless, environmentally ruinous lump of zinc in your pocket. So why are pennies still around?Source:http://ecosalon.com/a-penny-saved-is-not-worth-much/ […]

By: Ginny

Ginny — Sun, 19 Jun 2011 03:42:00 +0000

I believe that they mean reducing the prices for a rounded total. So in this case, if the total was $10.95, the original price before tax would be $9.98.

By: Guest

Guest — Sun, 19 Jun 2011 00:48:00 +0000

Copper Surfaces Kill Germs. Contact with pennies kills some of the germs on our finger tips.

By: TDRogers

TDRogers — Sun, 19 Jun 2011 00:46:00 +0000

It takes 1.79¢ to make a penny, which means we should get rid of them. The average American pays almost three times what their house is “worth” to pay off the mortgage and own it. So, by your argument, we should get rid of all houses.

The average coin is in circulation for about thirty years. That means the cost of a penny made today is amortized to about 0.06¢ per year over it’s expected life. Wow! What a terrible cost/benefit ratio!

The reason metal costs so much is because the dollar is so low. Maybe rather than worrying about getting rid of pennies, as the author suggests, Congress should worry about American companies and jobs moving overseas and not paying American taxes. Oh, wait, those same companies moving overseas are the ones paying — I mean “lobbying” — Congress to let them do it.

So, If you want to get rid of your pennies, send them all to me. I will gladly take them.

By: Joe

Joe — Sun, 19 Jun 2011 00:11:00 +0000

We have pennies for two simple reason: taxes and the law. Well, VAT if you live on the other side of the pond. Here is an example: In California the state tax is 9.75%. If I buy a $10 item the total I would actually pay is $10.98 Without pennies it would be really hard for me to pay that amount without pennies and even harder for the seller to give me the correct change back. You want to round it down to the nearest nickel? Fine, go ahead but here is the other part of the problem: the law. The California state sales tax rate is 9.75%. In the previous example we would round down the transaction amount to $10.95. The State of California gets less money as the tax rate for this transaction gets lowered to 9.5%. This lower amount violates the law and do you really think the State of California, or any other state that has a sales tax, would really take less money? Good luck in properly documenting all of these little “rounding down” transactions for state sales tax entities and general accounting practices.

By: Dont

Dont — Sat, 18 Jun 2011 22:04:00 +0000

Death to anyone suggesting that we wakl around with 5 kilos of change in our pockets like in europe. And you can’t just say “fuck it” and leave it at home, because there’s 12 euro in change. Oh yeah, it also makes transactiosn take lonegr, because now you dig through your fucking pocket for your 2 euro piece you no longer want to carry while I wait for you to pay me. No dollar or 2 dollar coins in the US!