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Canada is through with their penny and now Obama is thinking about it

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President Barack Obama says it may be time to get rid of the penny.
The copper 1-cent coin has long been criticized for being costlier to mint than it is worth. And with Americans using pennies less and less, some have questioned why the government hasn’t stopped producing them.

This idea has been around for a while now.

They aren't made of copper any more.

Im a fan of getting rid of them

Sent from the nexus of the universe

houndawg wrote:They aren't made of copper any more.

They still cost more to mint than they're worth. Shocking, I know, from a government-run organization.

houndawg wrote:They aren't made of copper any more.

Not exactly true, they are mostly zinc (97.5%) but they do contain 2.5% copper.

No more:
"A penny for your thoughts"
"My two cents"
"Penny stocks"
"Penny pinchers"
"A penny saved is a penny earned"
"Penny wise, dollar foolish"
And a bar I used to frequent in downtown DC "Ha'penny Lion"

CAA Flagship wrote:No more:
"A penny for your thoughts"
"My two cents"
"Penny stocks"
"Penny pinchers"
"A penny saved is a penny earned"
"Penny wise, dollar foolish"
And a bar I used to frequent in downtown DC "Ha'penny Lion"

It's correct that this idea has been thrown around for almost two decades now, Obama came up with it as much as Al Gore invented the internet.

I'm for it, just another stupid government idea to produce a coin at a loss.

I can see the third grade math tests now...

Billy buys a gum ball for 99 ¢. He hands the clerk a dollar bill. How much change does he get?

Answer: 0 ¢

bluehenbillk wrote: I'm for it, just another stupid government idea to produce a coin at a loss.

Everything else they do is a loss. Why not this too?

TheDancinMonarch wrote:

bluehenbillk wrote: I'm for it, just another stupid government idea to produce a coin at a loss.

Everything else they do is a loss. Why not this too?

Typical conk economics.

You should move.

kalm wrote:

TheDancinMonarch wrote:

Everything else they do is a loss. Why not this too?

Typical conk economics.

You should move.

Pretty amusing, considering it's the private sector zinc lobby that's fighting desperately to keep it around. Conks.

Grizalltheway wrote:

kalm wrote:
Typical conk economics.

You should move.

Pretty amusing, considering it's the private sector zinc lobby that's fighting desperately to keep it around. Conks.

Really? Makes sense.