SHOULD WE KEEP THE PENNY

[Cole_Sanders]

Here is my opinion on this question:

DON'T KEEP THE PENNY, I don't think we should keep the penny because it cost more to make the penny than the penny is worth. The argument for that is that we will end up paying more as citizens because then everything will have to be rounded up, but I don't think that it will be a great difference. I also think since most people use credit cards, debit cards, and online tools to make purchases these days then it won't affect many people.

WHAT IS YOUR TAKE ON THIS?

[Nathan_Weymouth]

Lots of reasons to keep the penny!! We should keep the penny! I believe this because...

1. Prices will increase
if we get rid of the penny, store owners, and merchants will have to round UP to the nickel, forcing the buyer to pay MORE! And trust me it all adds up.

2. Charities need pennies
where would penny charities be without pennies? The answer is: not where they are today, that is for sure! Just think, the pennies you find in jars, under the couch, and every where are now useless. You cant use them to donate!

3. Parents and allowances
my parents used to give me money in pennies when I was a young child. Pennies help children learn about money, counting ,and math.

[Aveatrex]

Lots of reasons to keep the penny!! We should keep the penny! I believe this because...

1. Prices will increase
if we get rid of the penny, store owners, and merchants will have to round UP to the nickel, forcing the buyer to pay MORE! And trust me it all adds up.

Merchants have already got rid of the penny.Since now more and more of customers use credit cards instead of cash.And anyway with inflation rate rising more and more,someday pennies production will stop and they will no longer be used.

Lots of reasons to keep the penny!! We should keep the penny! I believe this because...


3. Parents and allowances
my parents used to give me money in pennies when I was a young child. Pennies help children learn about money, counting ,and math.

Your parents used to give you pennies because they were worth more than today.A children now already studies maths in school during his entire scholarship,penies won't add something.

[pixie85]

I think that we should get rid of it. The argument with rounding the prices isn't viable because the penny has such a low value that rounding the prices wouldn't change anything. You wouldn't feel that and it would even look better on the tags. This trend of making everything cost if $1.99 and not $2 is dumb and should be stopped ASAP.

[bachus]

Here is my opinion on this question:

DON'T KEEP THE PENNY, I don't think we should keep the penny because it cost more to make the penny than the penny is worth. The argument for that is that we will end up paying more as citizens because then everything will have to be rounded up, but I don't think that it will be a great difference. I also think since most people use credit cards, debit cards, and online tools to make purchases these days then it won't affect many people.

WHAT IS YOUR TAKE ON THIS?

My country used to have a coins of 1 and 2, but for now it is really worth more money to make it than is worth itself, so they are manufacturing 5 and more worthy coins instead. It would be better than my country accept Bitcoin.

[Ranly123]

Here is my opinion on this question:

DON'T KEEP THE PENNY, I don't think we should keep the penny because it cost more to make the penny than the penny is worth. The argument for that is that we will end up paying more as citizens because then everything will have to be rounded up, but I don't think that it will be a great difference. I also think since most people use credit cards, debit cards, and online tools to make purchases these days then it won't affect many people.

WHAT IS YOUR TAKE ON THIS?

Don't keep pennies if you don't want to. As long as pennies will have value the I will still keep some and use some as a means of purchase and savings in real world. Though the emergence of cryptocurrency makes pennies less valuable, but it is still the foundation of every currency in the world. You cannot claim $1m if it lacks a penny.

[jarojak]

Here is my opinion on this question:

DON'T KEEP THE PENNY, I don't think we should keep the penny because it cost more to make the penny than the penny is worth. The argument for that is that we will end up paying more as citizens because then everything will have to be rounded up, but I don't think that it will be a great difference. I also think since most people use credit cards, debit cards, and online tools to make purchases these days then it won't affect many people.

WHAT IS YOUR TAKE ON THIS?

You may be right, the cost to make penny is higher than it's value but remember you can use penny for a long time.  Maybe for hundreds year and it is collectible.

[wengweng01]

We should keep it, because business starts with a penny. We can't come up with something big if we are not going to start small.

[Casdinyard]

Lots of reasons to keep the penny!! We should keep the penny! I believe this because...

1. Prices will increase
if we get rid of the penny, store owners, and merchants will have to round UP to the nickel, forcing the buyer to pay MORE! And trust me it all adds up.

Do you know inflation? Commodities are increasing fast because of inflation and not from keeping pennies. Before, one penny can buy 10 candies but today it can just buy one candy. The penny itself didn't change but the value of it decreases. And even government can't control inflation.

2. Charities need pennies
where would penny charities be without pennies? The answer is: not where they are today, that is for sure! Just think, the pennies you find in jars, under the couch, and every where are now useless. You cant use them to donate!

Guess what, some charities are open from whatever donations that we can offer. I mean they don't even bother what we can give as long as we give whole heatedly.

3. Parents and allowances
my parents used to give me money in pennies when I was a young child. Pennies help children learn about money, counting ,and math.

I don't know how old are you but we're now in new era of technology that everything is inour fingertips. And kids can learn without using pennies and even learn how to value money.


Actually the banks also advise the public that we shouldn't hoard pennies as it will affect the money circulation. So spend it and let it flow in the market.

[Hydrogen]

Banning the penny would represent a step towards a cashless society. It supports the "war on cash" the "war on paper money".

Imagine what would happen if there was no penny. Cash couldn't be utilized to pay bills. It couldn't be used to purchase things in stores. This type of "ban the penny" movement could easily be an attempt to make cash dysfunctional to fabricate a "reason" why paper money should be banned as an inferior and obsolescent tool -- in comparison to electronic money.

India is currently experimenting with a cashless society. After their experiment fails tragically and their economy implodes I hope people look @ the bad example and realize paper money has many advantages which strengthen economies and create financial opportunities.

[jane05]

Lots of reasons to keep the penny!! We should keep the penny! I believe this because...

1. Prices will increase
if we get rid of the penny, store owners, and merchants will have to round UP to the nickel, forcing the buyer to pay MORE! And trust me it all adds up.

2. Charities need pennies
where would penny charities be without pennies? The answer is: not where they are today, that is for sure! Just think, the pennies you find in jars, under the couch, and every where are now useless. You cant use them to donate!

3. Parents and allowances
my parents used to give me money in pennies when I was a young child. Pennies help children learn about money, counting ,and math.

I agree with this. Pennies still have a value and with some value it is important. Without pennies there is no dollars or money.

[Don Pedro Dinero]

My country used to have a coins of 1 and 2, but for now it is really worth more money to make it than is worth itself, so they are manufacturing 5 and more worthy coins instead. It would be better than my country accept Bitcoin.

That’s the point: the problem is inflation. Pennies are worthless now but as inflation keeps increasing, even a dollar or a pound will be worthless in the future.

If a coins’ value is too low, it has sense to get rid of it but in the future there will be another one you’ll have to get rid of.

[trecore4]

Pennies should not be around because they doesn't add anything in the ecosystem. The things are very costly around the market and no a days we don't get to see any stuff which is worth a penny. So why we should waste our time in production of the same, why to bring it up in the market and have lots of metal junk. Thats how I think about it these days. This will also help monetising the other valued coins and more and more use of them will rise. Having one coin worth more vale than having dozens of coins with the same value is the proper way to get around it.

[Binugon]

at this time the coin is often underestimated because of its relatively small value, but although any money still has value because it is often used returns in buying and selling transactions, despite having high production value, but the dime also tend to last long and also safe from water.

[Ava Duvall]

I think that we should get rid of it. The argument with rounding the prices isn't viable because the penny has such a low value that rounding the prices wouldn't change anything. You wouldn't feel that and it would even look better on the tags. This trend of making everything cost if $1.99 and not $2 is dumb and should be stopped ASAP.

in a way i would agree, but so much would have to change and be adapted, its crazy to think about how much that one penny impacts. so i doubt something will change

[BTCballa]

Here is my opinion on this question:

DON'T KEEP THE PENNY, I don't think we should keep the penny because it cost more to make the penny than the penny is worth. The argument for that is that we will end up paying more as citizens because then everything will have to be rounded up, but I don't think that it will be a great difference. I also think since most people use credit cards, debit cards, and online tools to make purchases these days then it won't affect many people.

WHAT IS YOUR TAKE ON THIS?

It seems like many countries right now are increasing the values of their currency by making a greater volume bills and declining coins instead. So my country need to issue the bill with 1000 volume.

[GG_Maker]

There's literally no reason to keep the penny! We've seen many, many other countries do it with NONE of the negative repercussions the penny lovers prophesied. Prices didn't go up. Charities didn't lose money.

1. They waste time! (we all hate that idiot who counts out their exact change at the grocery store)
2. They waste money! (it costs more to make them then they're worth. It is LITERALLY not worth the space in your pocket to be carrying around a penny.)
3. You can't even use them! (Try buying anything in all pennies. You'd have to carry around a small bag of pennies just to buy a pack of gum. Most newer vending machines don't even take them anymore! I have literally NEVER used a penny to buy something in my entire life.)

[hugeblack]

Should the community be fully digital? Is there no paper money? Indeed, we should underestimate the reliance on technology in everything.
Remember what happened when all Visa cards broke down several months ago Visa issues. [1]
Imagine some bad scenarios such as an earthquake or natural disaster, the Internet will stop, and a power failure will occur.
At that moment you will remember the importance of the PENNY .

This topic reminded me of an article from BBC. [2]

[1] Visa issues: Card problems across the UK and Europe as payment
[2] The penny coin: Should we follow Ireland and phase it out?

[Aleth]

Here is my opinion on this question:

DON'T KEEP THE PENNY, I don't think we should keep the penny because it cost more to make the penny than the penny is worth. The argument for that is that we will end up paying more as citizens because then everything will have to be rounded up, but I don't think that it will be a great difference. I also think since most people use credit cards, debit cards, and online tools to make purchases these days then it won't affect many people.

WHAT IS YOUR TAKE ON THIS?

Penny may not have value to many but for me, i keep it and earn it. Later on i may be able to buy something out of i earned. Something that helped me away from my budget. I have my credit card, debit cards and the crypto but i earn the penny. Later on if it doesn’t have any use anymore, probably i was able to buy something or exchanged them already.

[Hans17]

We should keep it, because business starts with a penny. We can't come up with something big if we are not going to start small.

I think you have a point though, basically we cannot start at a big money, we need to come up to a better idea and start from the bottom or from the basic, slowly and the paper money will come, and like my mother said without this penny there are no paper money.