Stop making cents: US Mint moves forward with plans to kill the penny
Stop making cents: US Mint moves forward with plans to kill the penny
The U.S. Mint has made its final order of penny blanks and plans to stop producing the coin when those run out.
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We should also kill the nickel and paper dollar at this point.
I really hope you're not advocating for a cashless society.
I want coin op machines again that don't require lugging around a roll of quarters
I'm ready for that possibility
Monero
Great, so throw every homeless or vulnerable person, abuse victims, children, etc who do not have access to a bank account or phone into a completely worse state. Food? Busses? For any of these people they are just now off the table. Eliminate whole sects of the restaurant, service, and gig economy industry overnight and millions will lose their jobs. The amount of people who work under the table at restaurants is outstanding.
Nickel I agree with, but I feel like the the paper dollar is a bit much. Why do you want to get rid of the paper dollar too?
It would make counterfeiting harder, for one. It would also replace the quarter for coin op devices which are almost entirely impractical at this point.
Technically true, but it also carries a whole host of other issues.
A lot of people still use cash because they prefer it to card networks. As much as I like the convenience of paying for a $1-$2 item with my card, I also realize it's costing my small local stores a pretty large amount of money in fees overall.
Not to mention there's a lot of kids that are much more capable of learning the value of money when it physically leaves their hands, and they're using smaller bills, since they don't exactly have a ton of money in the first place. We know that psychologically, the experience of using cash hurts more than using cards mentally, which prevents overspending more compared to card payments, and it's great for teaching kids good behaviors.
Besides, it's also great for tipping street performers without having to make a million different accounts on PayPal, Venmo, Cash App, etc just to electronically transfer two bucks, it's great for older people who are simply not easily able to understand how to properly use and manage cards, the list goes on.
A dollar in itself still has meaningful value. In many places, you can still buy, for example, a bag of chips, a coffee, a protein bar, items that people legitimately consume on a daily basis.
The same can't be said for the penny or a nickel, hence why essentially nobody pays for any item, no matter how cheap, just using those coins, but very commonly does so with quarters, dollar bills, and I'll admit, sometimes even dimes too, although I'd argue not frequently enough to justify much of their continued use in the coming years.
As long as a denomination of money can, on its own, or in small quantities, (i.e. something you could count out at a register without everyone in the line behind you getting angry at you) purchase a good, then that denomination should continue to exist, in my opinion.
Did you respond to the wrong post?
I said I use coin op shit. It takes way too many quarters to use that shit. I handle coins all the time but I want to handle LESS COINS. I still LIKE coins but the denominations below quarters AREN'T useful and paying 3 dollars in quarters is insane.
Cash machines jam all the time. This is why most pay machines now are credit card - I DO NOT LIKE PAYING WITH CREDIT CARDS. I do not want that. The current coin situation in the US is dumb.
The half penny was eliminated when it was worth more than a dime in todays money.
Did you respond to the wrong post?
I said I use coin op shit. It takes way too many quarters to use that shit.
Sorry, I thought it was obvious that making people carry around large quantities of metal dollar coins is a bad idea for anyone wanting to spend any reasonable amount of money, and that you were implying using cards to replace the paper dollar and quarters, rather than simply replacing it with dollar coins.
Easily stackable, foldable, lightweight paper money is much more practical for most people than un-foldable, harder to carry in wallets, heavier, louder coins. Nothing stops anybody from easily getting dollar coins right now, but there's a reason most people didn't want to spend them when they were first introduced, or even after the government sold them for exactly $1 online (shipping was free), and I don't think
But if you really prefer dollar coins, you can get them from your bank today, or order them from the mint online. Many coin operated machines actually take them.
denominations below quarters AREN’T useful
They are for people spending smaller amounts of money, like children who very often buy candy worth anywhere from $0.10 to $0.25 (not including tax, which requires them to have more smaller coins)
and paying 3 dollars in quarters is insane.
Three single dollar bills will get you there much faster.
Cash machines jam all the time.
Whatever cash machines you're using must be very badly maintained. I haven't had a single cash machine jam on me in my entire life.
This is why most pay machines now are credit card
Most machines are now credit card based because nobody has to then physically go to the machines to actually empty the money out of them.
The half penny was eliminated when it was worth more than a dime in todays money.
Cool, I still think the dime right now has enough value to justify being kept around for a bit, especially if we're getting rid of other smaller denominations, as it provides more of a transitionary period for people to adjust to spending and receiving larger denominations, especially when rounding of purchase prices made with physical money is still being normalized.