I personally never use pennies and find them annoying and cumbersome in bulk. They cost more money to make than they're worth, so as the video points out, they're basically costing the government money and thus costing the taxpayer money.
The main argument for keeping pennies is that they allow for exact change, but I feel like there are ways around that. For one thing, do you actually care if you're shortchanged 2 or 3 cents? I personally don't, but then I'm a laidback kind of guy.
Anyway, what are your thoughts about this?
Also, while we're at it, do we get rid of nickles too? They're also kind of pointless.
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“Where the longleaf pines are whispering
to him who loved them so.
Where the faint murmurs now dwindling
echo o’er tide and shore."
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I guess I don't care much either way. I just toss my pennies in a jar and whenever it's fully I take it to a coinstar and get cash for them.
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Pennies could probably be done away with. As Omega mentioned, their only purpose seems to be for exact change. They can't be used in soda machines and really nothing costs a penny these days. Sales tax could be calculated and rung up to the nearest nickle to avoid giving back incorrect change.
Ending a price in .99 is based on the theory that, because we read from left to right, the first digit of the price resonates with us the most, Hibbett explained. That's why shoppers are more likely to buy a product for $4.99 than an identical one for $5 the item that starts with a 4 just seems like a better deal than the one that starts with 5.
That sales tactic isnt going away, so, by default, neither is the penny.
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Last edited by riv6672 on Mar 27th, 2016 at 05:26 AM
True, but you're not buying it for .99 or 4.99. You still pay sales tax which changes the amount. That can be modified to the nearest nickel, i would think.
The U.K. Has a 1p 2p and 5p in circulation and they're bothersome and tedious. Getting rid of them would be good.
10p is a 10th of a pound, 20p is a 5th of a pound and 50p is half a pound. I don't know if a quarter is better than a 5th, but it makes more sense to me than to have 100th of a pound in circulation.
The U.K. Has already gotten rid of half pennies, threepence, sixpence, tithe, farthing, crown, shilling etc. There's no debate.
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Mar 27th, 2016 02:02 AM
