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The time has come

July 18, 2006

“Kill-the-penny bill introduced”:http://money.cnn.com/2006/07/18/news/penny/index.htm?cnn=yes

In the past, I’m been ambivalent about the whole thing. But when it costs 1.4 cents to make a 1 cent piece… yeah, that’s where I draw the line.

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5 Comments leave one →
  1. Slothboy permalink
    July 19, 2006 10:10 am

    The trouble is that some dude with a calculator will figure out how much money you would “lose” in your lifetime if you don’t get to buy things in 1 cent increments.

    Australia quit using the penny a long time ago and their society hasn’t crumbled. I’d love to see the things go, especially when they cost so much to make.

  2. July 19, 2006 2:41 pm

    Ok, so I guess I’m going to have to go Crazy-E-style up in yo’ grill here. Here’s the deal: The irony in all this is that, according to what I just read there, the penny is actually the only item in our circulation that actually is itself valuable rather than being simply a symbol for something valuable. We haven’t seen that since our country gave up the gold bullion standard in the 1930’s.

    The $20 bills in my wallet (of which there are many, obviously—the 20’s, not the wallets…never mind…) are worth next to nothing of their own merit, and as such are subject to inflation basically on the whim of Ben Bernanke. The pennies in my kid’s piggy bank, however, are nearly inflation-proof because inflation has now dropped their societal value down past the floor of their actual value. So, for my money (sorry), the penny is the only U.S. currency worth investing in.

    And wait a minute, the penny is a bad idea but the $2 bill is a good one??

  3. July 19, 2006 6:39 pm

    Bah. We all need to just get microchips implanted in our foreheads so we can be scanned into cashless society…

  4. July 20, 2006 8:13 am

    Jeana,

    I’m sure someone will put a rider on the bill that mentions your idea…

  5. Slothboy permalink
    July 20, 2006 9:50 am

    The penny may be worth “something” but it is not valued as high as it’s cost of production.

    Oh wait, throwing money away for something frivilous… that’s the American way… never mind. Keep the penny.

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