# Pennies **URL:** \ **Category:** Factual Questions\ **Created:** [May 22, 2015, 5:10am UTC](https://boards.straightdope.com/t/pennies/720569 "2015-05-22T05:10:26Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![md2000](https://avatars.discourse-cdn.com/v4/letter/m/73ab20/32.png) [@md2000](https://boards.straightdope.com/u/md2000)\ **Post date:** [May 22, 2015, 4:12pm UTC](https://boards.straightdope.com/t/pennies/720569/21 "2015-05-22T16:12:51Z")
> [@bob\_2](#): > > I think we are heading swiftly towards a no-cash society. I bought a KFC (yeah - I know) last night and paid by waving my card over a reader. No PIN no signature. £9.99 gone from my bank account. Yeah, I figured out how to score the antenna traces on the card so that feature wouldn’t work. (Especially, I don’t want it to work for a debit card) Basically, you’re on the hook unless you can prove the card was stolen. The whole idea of Chip-and-PIN was to make transactions more secure, not less. > [@Honey](#): > > Dollar coins are too heavy. I can easily carry a pocket full of dollar bills, not so for dollar coins. Canada has $1 and $2 coins, so the load is less once people figure out how to use one coin in place of 2. But yes, it’s easier to spend them when they are easier to grab. Whenever I visit the USA, I have an opposite problem - I always run out of $1 bills, I end up trying to get merchants to accept the ATM’s $20 bills for small purchases. ---
**Author:** ![md2000](https://avatars.discourse-cdn.com/v4/letter/m/73ab20/32.png) [@md2000](https://boards.straightdope.com/u/md2000)\ **Post date:** [May 22, 2015, 4:26pm UTC](https://boards.straightdope.com/t/pennies/720569/22 "2015-05-22T16:26:35Z")
> [@misling](#): > > I can see why the majority of rounding would be ‘up’, because of the widespread practice of pricing things $xx.99 > > I wouldn’t mind though, even if stuff was generally rounded up. In fact, thanks to Canada’s multiple sales taxes and also when purchasing multiple items, I find that the times price rounds up or down comes out about even. Although, I much preferred New Zealand’s system. IIRC, when I was there about 10 years ago, everything was in even numbers - $10.00 instead of $9.98, and so on. In Italy it used to be even simpler, almost always bills since most prices were in even hundreds or thousands of Lira… Except McDonalds, which would have prices to the 10-lira level IIRC. ---
**Author:** ![ftg](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/ftg/32/2801_2.png) [@ftg](https://boards.straightdope.com/u/ftg)\ **Post date:** [May 22, 2015, 5:05pm UTC](https://boards.straightdope.com/t/pennies/720569/23 "2015-05-22T17:05:20Z")
Note that the argument, based on minting costs, is stronger for getting rid of the nickel. At times recently, it’s been a noticeable money-loser. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [May 22, 2015, 5:28pm UTC](https://boards.straightdope.com/t/pennies/720569/24 "2015-05-22T17:28:24Z")
Both the one-cent coin and the nickel are money losers. ---
**Author:** ![bob\_2](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bob_2/32/3341_2.png) [@bob\_2](https://boards.straightdope.com/u/bob_2)\ **Post date:** [May 22, 2015, 6:30pm UTC](https://boards.straightdope.com/t/pennies/720569/25 "2015-05-22T18:30:13Z")
> [@Derleth](#): > > What, you bought a whole restaurant? Yeah - Ok - 6 pieces, coleslaw and some fries. A rare “treat”. ---
**Author:** ![california\_jobcase](https://avatars.discourse-cdn.com/v4/letter/c/9d8465/32.png) [@california\_jobcase](https://boards.straightdope.com/u/california_jobcase)\ **Post date:** [May 22, 2015, 6:42pm UTC](https://boards.straightdope.com/t/pennies/720569/26 "2015-05-22T18:42:13Z")
> [@Dewey\_Finn](#): > > Both the one-cent coin and the nickel are money losers. This would be an issue if coins were a one-use deal, like trash bags, but they aren’t. Included in random change I got yesterday are '76, '87, '88, and '94 cents, and a '94 nickel. The chance of any bills in your pocket being that old is very slim. ---
**Author:** ![DrDeth](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@DrDeth](https://boards.straightdope.com/u/DrDeth)\ **Post date:** [May 22, 2015, 6:44pm UTC](https://boards.straightdope.com/t/pennies/720569/27 "2015-05-22T18:44:07Z")
> [@california\_jobcase](#): > > If the U.S. were to get rid of the one cent coin (pedantic nitpick: the U.S. has never minted pennies), not a single price would have to change. [http://www.usmint.gov/mint\_programs/circulatingCoins/?action=circPenny](http://www.usmint.gov/mint_programs/circulatingCoins/?action=circPenny) "Lincoln **Penny** (One-Cent Coin) … The image on the first \*\*penny **was of a lady with flowing hair symbolizing liberty. … In 1857, Congress authorized the United States Mint to strike the** penny \*\*with 88% copper and 12% nickel. … From 1909 to 1958, the Lincoln “wheat” **penny** obverse was paired with a … In 2009, the United States Mint issued four different **pennies** throughout the year…" ---
**Author:** ![california\_jobcase](https://avatars.discourse-cdn.com/v4/letter/c/9d8465/32.png) [@california\_jobcase](https://boards.straightdope.com/u/california_jobcase)\ **Post date:** [May 22, 2015, 6:50pm UTC](https://boards.straightdope.com/t/pennies/720569/28 "2015-05-22T18:50:16Z")
Show me one U.S. cent coin with the word penny on it. ---
**Author:** ![Derleth](https://avatars.discourse-cdn.com/v4/letter/d/b9e5f3/32.png) [@Derleth](https://boards.straightdope.com/u/Derleth)\ **Post date:** [May 22, 2015, 7:04pm UTC](https://boards.straightdope.com/t/pennies/720569/29 "2015-05-22T19:04:25Z")
> [@california\_jobcase](#): > > Show me one U.S. cent coin with the word penny on it. Out-pedanting the US Mint on the subject of what US coins are called is… impossible, actually, since the US Mint is an authority on the subject and you’re not. It’s like out-pedanting NIST on the subject of what time it is. ---
**Author:** ![california\_jobcase](https://avatars.discourse-cdn.com/v4/letter/c/9d8465/32.png) [@california\_jobcase](https://boards.straightdope.com/u/california_jobcase)\ **Post date:** [May 22, 2015, 7:14pm UTC](https://boards.straightdope.com/t/pennies/720569/30 "2015-05-22T19:14:11Z")
But has a coin with the word “penny” ever been made by the U.S. mint? I contend that penny is a holdover from earlier British coinage that has been unofficially attached to the U.S. one-cent coin by common use, and your cite is an example of such usage by the mint. ---
**Author:** ![Diceman](https://avatars.discourse-cdn.com/v4/letter/d/22d042/32.png) [@Diceman](https://boards.straightdope.com/u/Diceman)\ **Post date:** [May 22, 2015, 7:17pm UTC](https://boards.straightdope.com/t/pennies/720569/31 "2015-05-22T19:17:07Z")
> [@jz78817](#): > > can we also shit or get off the pot about the dollar bill? start minting $1 coins and **stop printing $1 bills.** our failure to do the latter is why “people don’t like dollar coins.” The American public would rather the Mint get off the pot and stop foisting dollar coins on us. They’ve collectively refused to use dollar coins many times over the years. Coins of any kind are more of a pain to carry around than bills. Back on track, I wouldn’t care a bit if they eliminated pennies, or nickels for that matter. Hmm. Maybe they could replace quarters with a 20-cent coin (a quint?) and eliminate the hundreths place completely. ---
**Author:** ![muldoonthief](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/muldoonthief/32/3188_2.png) [@muldoonthief](https://boards.straightdope.com/u/muldoonthief)\ **Post date:** [May 22, 2015, 7:37pm UTC](https://boards.straightdope.com/t/pennies/720569/32 "2015-05-22T19:37:30Z")
> [@california\_jobcase](#): > > Show me one U.S. cent coin with the word penny on it. By that logic nickels don’t exist either. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [May 22, 2015, 7:53pm UTC](https://boards.straightdope.com/t/pennies/720569/33 "2015-05-22T19:53:42Z")
> [@california\_jobcase](#): > > > [@Dewey\_Finn](#): > > > > Both the one-cent coin and the nickel are money losers. > > This would be an issue if coins were a one-use deal, like trash bags, but they aren’t. Included in random change I got yesterday are '76, '87, '88, and '94 cents, and a '94 nickel. The chance of any bills in your pocket being that old is very slim. Actually, for many people, coins (especially pennies) _are_ one use only. I don’t have statistics but some people throw away coins. Certainly many don’t bother to pick one up off the street. ---
**Author:** ![Biffy\_the\_Elephant\_Shrew](https://avatars.discourse-cdn.com/v4/letter/b/e47c2d/32.png) [@Biffy\_the\_Elephant\_Shrew](https://boards.straightdope.com/u/Biffy_the_Elephant_Shrew)\ **Post date:** [May 22, 2015, 8:09pm UTC](https://boards.straightdope.com/t/pennies/720569/34 "2015-05-22T20:09:33Z")
> [@muldoonthief](#): > > By that logic nickels don’t exist either. Nor do dollar bills. They don’t say “bill” on them anywhere. But when was the last time anyone asked you for a dollar note? ---
**Author:** ![OldGuy](https://avatars.discourse-cdn.com/v4/letter/o/3bc359/32.png) [@OldGuy](https://boards.straightdope.com/u/OldGuy)\ **Post date:** [May 22, 2015, 8:26pm UTC](https://boards.straightdope.com/t/pennies/720569/35 "2015-05-22T20:26:17Z")
> [@Biffy\_the\_Elephant\_Shrew](#): > > Nor do dollar bills. They don’t say “bill” on them anywhere. But when was the last time anyone asked you for a dollar note? All this is a bit like saying “Bobby Kennedy never existed. His name was Robert.” If virtually everyone agrees to call something by name X, then X obviously refers to that thing at least in context. It might refer to other things as well. ---
**Author:** ![Clothahump](https://avatars.discourse-cdn.com/v4/letter/c/51bf81/32.png) [@Clothahump](https://boards.straightdope.com/u/Clothahump)\ **Post date:** [May 22, 2015, 8:32pm UTC](https://boards.straightdope.com/t/pennies/720569/36 "2015-05-22T20:32:31Z")
> [@Bullitt](#): > > Dollar coins are annoying. Disagree. Dollar coins are awesome. I ask for them in change every chance I get. ---
**Author:** ![jz78817](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jz78817/32/1028_2.png) [@jz78817](https://boards.straightdope.com/u/jz78817)\ **Post date:** [May 22, 2015, 8:35pm UTC](https://boards.straightdope.com/t/pennies/720569/37 "2015-05-22T20:35:52Z")
> [@Diceman](#): > > The American public would rather the Mint get off the pot and stop foisting dollar coins on us. They’ve collectively refused to use dollar coins many times over the years. Coins of any kind are more of a pain to carry around than bills. > > Back on track, I wouldn’t care a bit if they eliminated pennies, or nickels for that matter. > > Hmm. Maybe they could replace quarters with a 20-cent coin (a quint?) and eliminate the hundreths place completely. Canadians seem to manage just fine. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [May 22, 2015, 8:40pm UTC](https://boards.straightdope.com/t/pennies/720569/38 "2015-05-22T20:40:26Z")
Many countries seem to do fine with the equivalent of a dollar coin. I read somewhere that the US one-cent piece is one of the lowest denomination coins anywhere, or at least among first-world nations. ---
**Author:** ![barbitu8](https://avatars.discourse-cdn.com/v4/letter/b/839c29/32.png) [@barbitu8](https://boards.straightdope.com/u/barbitu8)\ **Post date:** [May 22, 2015, 8:45pm UTC](https://boards.straightdope.com/t/pennies/720569/39 "2015-05-22T20:45:57Z")
> [@gazpacho](#): > > We should probably get rid of nickles and dimes while we were at it. The last time the US retired a coin was in1857 when we got rid of the half cent. It had an equivalent purchasing power of about 12 cents in today’s money. Yeah, and then we can’t be nickeled and dimed to death. ---
**Author:** ![md2000](https://avatars.discourse-cdn.com/v4/letter/m/73ab20/32.png) [@md2000](https://boards.straightdope.com/u/md2000)\ **Post date:** [May 22, 2015, 9:23pm UTC](https://boards.straightdope.com/t/pennies/720569/40 "2015-05-22T21:23:16Z")
> [@Dewey\_Finn](#): > > Many countries seem to do fine with the equivalent of a dollar coin. I read somewhere that the US one-cent piece is one of the lowest denomination coins anywhere, or at least among first-world nations. Certainly the bills are convenient. When I was in Egypt for a vacation, the locals preferred tips in the major currencies - US Dollars, Euros or GB Pounds. They prefer bills to coins. Of course, the others have seen the light, so the one dollar bill was a very convenient currency for tips, given that the alternatives were 5 Euros or 5 pounds. Fortunately, the local currency availability seems to have improved from 2012 to 2013, so it was also possible to get notes for 10 Egyptian pounds (about $1.40). But that`s another value of US currency - it`s a trusted medium where the local currency is not trusted. [Previous page](https://boards.straightdope.com/t/pennies/720569.md?page=1) [Next page](https://boards.straightdope.com/t/pennies/720569.md?page=3)