Nickel and dimed: How pennies and nickels are costing you money

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  • Lowonoil Clearfield, UT
    March 21, 2014 10:05 a.m.

    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 to manufacture.

  • I know it. I Live it. I Love it. Provo, UT
    March 15, 2014 11:46 p.m.

    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.

  • Prodicus Provo, UT
    March 11, 2014 5:28 p.m.

    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.

  • stevo123 slc, ut
    March 10, 2014 8:24 p.m.

    A penny minted today has a life of 50 years plus, pretty good bargain I think.

  • West Coast1 Secane, PA
    March 10, 2014 7:51 p.m.

    I like pennies, what else would I put on train tracks?

  • Hutterite American Fork, UT
    March 10, 2014 7:39 p.m.

    It's time to do away with them, and small paper bills can be replaced with coins.