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Do you find a $1 coin useful? (Page 4)
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Addicted to MacNN
Join Date: Mar 2006
Location: California
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wha? no man purse for you? it worked for Jerry .... sorta
on topic:
no one has brought up this, if someplace charged .99 for something and you give them a dollar coin (and this is if the penny is gone) how would they give you change back? no more 99¢ stores, no more $1.99 ect meals, no more lots of stuff. with the penny gone, you could actual have to spend more than you do now for certain stuff
-a
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Professional Poster
Join Date: Mar 2002
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I think they need to do away with the penny. You can't buy anything with them.
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Clinically Insane
Join Date: Oct 2001
Location: San Diego, CA, USA
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Sure you can. You just need more than one. On the other hand, you'd lose money everytime you bought something that costs 81¢ if we didn't have pennies.
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Chuck
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"Instead of either 'multi-talented' or 'multitalented' use 'bisexual'."
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Professional Poster
Join Date: Jan 2001
Location: Salt Lake City, UT USA
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Doing away with the Penny would result in sales tax being all messed up. I'm not a huge fan of sales tax, but I'd rather owe pennies on the dollar, rather than nickles or dimes.
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2008 iMac 3.06 Ghz, 2GB Memory, GeForce 8800, 500GB HD, SuperDrive
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Posting Junkie
Join Date: Feb 2000
Location: Washington, DC
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Originally Posted by SirCastor 
Doing away with the Penny would result in sales tax being all messed up. I'm not a huge fan of sales tax, but I'd rather owe pennies on the dollar, rather than nickles or dimes.
Not really, you would simply round to the nearest 5¢ increment. We are already doing that with the penny (example $15.99 sale with 4% sales tax is $16.6296)
If you purchased 5 items... it would still calculate using the penny, but would round to the nearest 5¢.
The penny would still "exist" but the calculations would round the final number to the nearest 5¢ increment.
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Professional Poster
Join Date: Jan 2001
Location: Salt Lake City, UT USA
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Originally Posted by mitchell_pgh
Not really, you would simply round to the nearest 5¢ increment. We are already doing that with the penny (example $15.99 sale with 4% sales tax is $16.6296)
If you purchased 5 items... it would still calculate using the penny, but would round to the nearest 5¢.
The penny would still "exist" but the calculations would round the final number to the nearest 5¢ increment.
Which is kind of silly. All I see that doing is speeding up inflation. Now instead of paying $16.63, you're paying $16.65. Again I say that removing the penny will simply devalue the nickel, and it will become the new penny.
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Addicted to MacNN
Join Date: Aug 2006
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How the hell did people survive back when staying in a hotel in New York cost 25¢? (I swear I heard that somewhere when I was a kid)
What would that make a penny worth now?
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Posting Junkie
Join Date: Feb 2000
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Originally Posted by SirCastor
Which is kind of silly. All I see that doing is speeding up inflation. Now instead of paying $16.63, you're paying $16.65. Again I say that removing the penny will simply devalue the nickel, and it will become the new penny.
On the flip side, instead of paying 16.67, you would pay 16.65.
I'm sure with big companies with millions of transactions a day it could cause problems, but for most people, they wouldn't probably notice the 7¢ plus or minus per day.
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Clinically Insane
Join Date: Dec 1999
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Originally Posted by mitchell_pgh
On the flip side, instead of paying 16.67, you would pay 16.65.
I'm sure with big companies with millions of transactions a day it could cause problems, but for most people, they wouldn't probably notice the 7¢ plus or minus per day.
If they always rounded up to the nearest nickel, the extra income from all those transactions could offset our deficit and raise the value of the dollar. It wouldn't sound as bad as a "variable tax increase."
I would imagine there are billions (if not trillions) of transactions every day in America. That would be a LOT of money.
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"…I contend that we are both atheists. I just believe in one fewer god than
you do. When you understand why you dismiss all the other possible gods,
you will understand why I dismiss yours." - Stephen F. Roberts
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Mac Elite
Join Date: Oct 2000
Location: back home
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It is easier to spend when you have only coins in your pocket. After a while it feels like they are like quarters. I used to think twice before I would reach for a paper currency, now I do not even think about it.
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Posting Junkie
Join Date: Feb 2000
Location: Washington, DC
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It's great when traveling to where they take the Euro or British currency. They have coins worth something that are actually accepted most places.
After a trip to Paris, I had something like $30+ in coins!
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