Comments on: Should We Make Cents?
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- Mr. Safer,
Very entertaining piece however you missed a big point in why the government wants to keep the penny, and no it is not the federal government but local and state goverment''s who impose sales taxes. I doubt many would be able to pass a 5% sale tax increase. Really enjoy your show keep up the great work.
Henry Heitlauf
Verona Island Maine - Reply to this comment
- If it costs 120 million dollars to make 80 million dollars worth of pennies... why not make the penny worth 2 cents? Then you''ll have 160 million dollars for the same cost. Now that maks cents.
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- Why not make the penny actually worth 2 cents? It''s a simple and elegant solution. You can still put in your "two cents worth". And merchants would lower their prices to $3.98 instead of $3.99 since they never want you to think you''re paying $4.00.
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- Australia got rid of the 1 cent years ago. They simply round down for .01 and .02, and up for .03 and .04. It all evens out in the end.
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- For several years a website has been tracking the daily melt value of all coins based on the traded copper and zinc prices: www.coinflation.com
They came up with the term "coinflation" for the very phenomenon this segment covered. - Reply to this comment
- Why not make the penny actually worth 2 cents? It''s a simple and elegant solution. You can still put in your "two cents worth". And merchants would lower their prices to $3.98 instead of $3.99 since they never want you to think you''re paying $4.00.
- Reply to this comment
- For several years a website has been tracking the daily melt value of all coins based on the traded copper and zinc prices: www.coinflation.com
They came up with the term "coinflation" for the very phenomenon this segment covered. - Reply to this comment
- How much of the cost of making coins is the result of the frequent re-design that is taking place? Why can''t the government decide on something, and let it alone?
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- My state has a 7% sales tax. How far would you get without penny''s if you paid in cash. I don''t want the state rounding up and they sure wouldn''t round down.
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- Come on... the real reason for the penny being worth 2 cents is the devaluation of the US$ on the world market. Our dollar is worth half of what it was when bush took office. Extensive printing of dollars with no backing has decreased the value of our money. Copper, Zinc, and all other commodities are sold on the world market. When the US$ is worth less, everything takes more US$ to buy, including oil.
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