Published: Monday, March 10 2014 2:45 p.m. MDT
It's time to do away with them, and small paper bills can be replaced with
I like pennies, what else would I put on train tracks?
A penny minted today has a life of 50 years plus, pretty good bargain I think.
The US got rid of the half-penny coin in 1857; it no longer made sense to mint
such a worthless denomination.Accounting for inflation, when it was
discontinued it had a buying power of more than 12 cents in 2014 dollars.Right around the end of World War II was the last time the penny had as
much buying power as a half-penny did in 1857.1981 was the last time
the nickel had as much buying power as a half-penny did in 1857.Getting rid of the nickel and penny is long, long overdue.
If a penny costs more than a penny to manufacture... then our economic system is
to blame, not the penny itself.If you could buy a burger for a dime
or quarter, then the penny wouldn't be useless. Inflation and our
dependence on electronic systems are handicaps.You don't treat
symptoms, you treat the source of the problem. The penny isn't the source
of it's own worth. It's worth is a result of other problems.
Pennies are tools that each facilitate countless thousands of cash transactions
to .01 dollar resolution over the course of thier 50 year service lives. Their
usefulness is ample justification for the fact that they cost more than one cent
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