Eliminating the penny

[ua_guy]

Handling cash is an added liability and expense for businesses. And, with the increased circulation of counterfeit bills, I can see why fewer business are interested in being a change-machine for customers with large bills. Why not use a card at a place like BK anyhow, it's not like you get a discount for paying in cash.

Interestingly, pennies that are made of copper are worth more than face value. Modern pennies, zinc with a copper plating, are still worth less than or equal to face value. But the manufacturing and distribution is an added expense and for that reason, probably time to do away with 'em.

[disneysteve]

Interestingly, pennies that are made of copper are worth more than face value. Modern pennies, zinc with a copper plating, are still worth less than or equal to face value. But the manufacturing and distribution is an added expense and for that reason, probably time to do away with 'em.

Apparently it costs just over 3 cents to produce each penny. It's not just the value of the metal. I'm sure that includes the entire production process.

[Fishindude77]

Handling cash is an added liability and expense for businesses. And, with the increased circulation of counterfeit bills, I can see why fewer business are interested in being a change-machine for customers with large bills. Why not use a card at a place like BK anyhow, it's not like you get a discount for paying in cash.

From a customer standpoint of cash -vs- card. When I use cash I don't get a bill, it's paid for and done. I don't want to get a bill for a cheeseburger I ate three weeks ago,
Guess I could use a debit card, but I don't have one because it doesn't pay cash back.

Also, there is no chance of getting hacked if I stay away from the electronic transaction.

[mumof2]

I don’t use the ATM a lot but the one I go to gives $10, $20, and $100 bills. I’m more likely to go inside when I need cash because that’s the only way to get $1 and $5 bills.

most people here use atms as they will charge you to go inside and take out cash...unless it a big amount...that sound funny $1 note we are so use to having $1 & $2 coins a note sounds funny for that amount.

[mumof2]

just a question do your notes have braille on them?? so all our new notes over the last few years have bumps on them so blind people know how much the note is worth so people can't steal from them in stores....just wondering if yours has them as well?? Also do your coins change what is on them...so our $2 coins change if something significant is happening, like the olympics, world cup, 50 years of something etc...do they do that with your coins?

[kork13]

just a question do your notes have braille on them?? so all our new notes over the last few years have bumps on them so blind people know how much the note is worth so people can't steal from them in stores....just wondering if yours has them as well?? Also do your coins change what is on them...so our $2 coins change if something significant is happening, like the olympics, world cup, 50 years of something etc...do they do that with your coins?

They tried rolling out $1 coins in the US, but they didn't catch on. And the only coins that have really changed much with periodic themes is our quarters. A while back they started promoting one for each state/territory, but then at some point in the last few years, they changed what's on the newly minted quarters a few times... I'm not even sure what the current theme is.

Whereas here in Japan, they use coins for up to ¥100 (~65¢ in today's market, but their $1 equivalent) & ¥500 (~$3.20). Their first bill is the ¥1000. It's great, because the coins are easier to drop a few dollars at once, though you do have to get used to the bother of carrying around a coin purse.

No braille ... Very few countries I'm aware of currently have braille-marked bills. But it's a fantastic way to help blind folks ... Though many countries do use different sized bills for a similar reason.

[mumof2]

They tried rolling out $1 coins in the US, but they didn't catch on. And the only coins that have really changed much with periodic themes is our quarters. A while back they started promoting one for each state/territory, but then at some point in the last few years, they changed what's on the newly minted quarters a few times... I'm not even sure what the current theme is.

Whereas here in Japan, they use coins for up to ¥100 (~65¢ in today's market, but their $1 equivalent) & ¥500 (~$3.20). Their first bill is the ¥1000. It's great, because the coins are easier to drop a few dollars at once, though you do have to get used to the bother of carrying around a coin purse.

No braille ... Very few countries I'm aware of currently have braille-marked bills. But it's a fantastic way to help blind folks ... Though many countries do use different sized bills for a similar reason.

we really didnt have a choice as thats what they printed...but it really isnt a hassle having coins and all banks have coin and notes deposits in them...we have different sized notes as well but I think it just gives them that bit more independence as well...I think it is a great idea....I love learning things about different countries

[disneysteve]

just a question do your notes have braille on them?? so all our new notes over the last few years have bumps on them so blind people know how much the note is worth so people can't steal from them in stores....just wondering if yours has them as well?? Also do your coins change what is on them...so our $2 coins change if something significant is happening, like the olympics, world cup, 50 years of something etc...do they do that with your coins?

No braille but that's a great idea.

They keep trying to eliminate $1 bills but the population, myself included, won't go for it. I've spent time in Canada where they have $1 and $2 coins and it's a pain in the butt. Instead of a nice thin light stack of bills in my wallet, I ended up with a bunch of heavy coins in my pocket. No thanks.

Our coins never used to change, but then years ago they started the state quarter series. Then they did famous people and landmarks and who knows what else. Then they did the presidential dollar coins and some others I think. Then they started making changes to nickels and pennies. Not sure about dimes. I'm always surprised when I get coins somewhere now and don't even recognize them since I see them so infrequently.

[Jluke]

Scene from the Ray Charles film where he insists on being paid in $1 bills as he sensed he was getting shortchanged for his performances

[mumof2]

No braille but that's a great idea.

They keep trying to eliminate $1 bills but the population, myself included, won't go for it. I've spent time in Canada where they have $1 and $2 coins and it's a pain in the butt. Instead of a nice thin light stack of bills in my wallet, I ended up with a bunch of heavy coins in my pocket. No thanks.

Our coins never used to change, but then years ago they started the state quarter series. Then they did famous people and landmarks and who knows what else. Then they did the presidential dollar coins and some others I think. Then they started making changes to nickels and pennies. Not sure about dimes. I'm always surprised when I get coins somewhere now and don't even recognize them since I see them so infrequently.

The only thing we hate is with our $2 coin is one 1 side it has the queen (now changing to king) and an aboriginal person (Gwoya Tjungurrayi) so we can't do heads/tails we have to do black or white...no-one gets offended it by it...but just still seems weird to say
I guess we are just use to coins so it doesnt really bother us anymore...but we have different demoniations than you guys and minting them can mean it actually cost more to print than a note we have 5c, 10c, 20c, 50c, $1, $2

[myrdale]

We make purchases all of the time based off the tenth of a penny.

Anytime you see a price on gasoline, $2.999, that last "9" is a nine tenths of penny.

[disneysteve]

The 9/10 cent thing with gas is a weird carryover from the Depression that they just never got rid of. Obviously it serves absolutely no practical purpose since our money doesn’t work that way.

[myrdale]

It gets you to think you're buying gas at $2.99 a gallon when really it is $3.00 per.

[disneysteve]

Well all businesses do that which is why so many prices end in 99 cents. The 9/10 is unique to gas.

[LivingAlmostLarge]

That's interesting to get rid of penny. Isn't it always suggested