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MAGA WINS.
TRUMP ENDS THE PENNY!! MAGA!!
End nickels and dimes too. Introduce 1 dollar, 2 dollar, and 5 dollar coins
(I know there's already a dollar coin, I mean a better one that's actually widely circulated)
coins were only a good idea when the material the coin was made from had value. No one wants to carry around sacks of metal slugs to buy groceries with.
do you even use cash?
Retard
wtf if this was Biden the maga camp would be up and arms...I love the penny
sic simper tyrannis
I DONT NEED MY CURRENCY TO HAVE VALUE FUCK YOU COMMIE
I've been thinking about this all morning. Stores will round up or down, they say, but you know they'll round up. This is the beginning of the destruction of cash. I think they should substitute the copper and use some cheaper synthetic alloy, but not destroy the penny. Nickels are next.
You clearly are.
This. I have a $50 stashed in my wallet for emergencies. Money is gross and the last money I touched smell like that additive they put in limited slips.
Who gives a shit. Kys OP
We've been trying to get rid of it for a couple decades. I'm guessing no judge is going to block his order? The bill (common cents act) still needs to go through congress.
Nah, I have silver and gold and a few thousand in cash in my safe and about $100 in my wallet just in case but I always use my card.
No one wants to carry around sacks of metal slugs to buy groceries with.
I do.
I think they should substitute the copper and use some cheaper synthetic alloy
Pennies haven't been made of copper for more than 30 years, numbnuts. They're 97.5% nickle.
i want to carry around metal slugs to buy groceries with
I have $300 in Eisenhower coins... Maybe one day they will gain value. Now they just sit in a Crown Royal bag and I act like im from medieval times throwing money around like it doesn't matter.
Jew
I'd rather carry only metal slugs and no bills
now that I think about it, I haven't actually paid with a penny or dime in years. I'm sure I've touched a quarter in some random coin-op machine but then again any big purchases I'm not using cash and get no change. Does anyone here actually use pennies?
The reason is that zink is too expensive.
Price of zink is roughly 2,700 dollars/ton (1000 kg or 1 million grams).
1 penny weigh 2.5 grams. The cost of making a penny is 2700x2.5/10^6 =0,00675 dollars, which is 67.5 % of a penny just in material cost. They also plate it with copper. This means the penny is almost fully backed by its melt worth. It’s real money, which means it has to be done away with in a fiat based system.
They will eventually remove every physical coin. Bills and digital 1s and 0s backed by nothing is their big dream.
If only it was made out of nickel. The price of nickel is currently >15,000 USD/MT so one nickel penny would be worth more than its denominated value.
Stores will round up or down, they say, but you know they'll round up.
they dont. do you not get to see the total cost of your purchase before you pay for it or something?
If only it was made out of nickel
It is made out of nickle you retard! 97.5% nickle, 2.5% copper. It's almost entirely nickle with damn near no copper. That retard is saying
they shouldn't get rid of it, they should start doing the thing they've been doing since the 80s
Which is why they installed trump to do it, MIGAtards will cheer on the further debasement of their currency.
He means to imply that once there are no more pennies the price of something that is currently $1.92 will become $1.95 instead of $1.90
Now put Lincoln on the $20
You can still pay $1.92 if you pay with your goycard
yeah that doesnt happen, i would welcome someone to round up 1.92 to 1.95 because i would make bank in the settlement for suing them
every house in the US has about a thousand pennies sitting in cans and cups and jars, they will be around for a while
yeah that doesnt happen
doesn't
present tense
Are you some sort of mentally handicapped imbecile? We are talking about what COULD HAPPEN in the FUTURE.
we phased out the penny years ago retard. I speak from experience
retard
Here’s an official link to the US mint. 97.5 % zink (Zn) and 2.5 % copper (Cu).
usmint.gov
Oh well I'm glad to learn that what happens in one country always happens exactly the same in every other country.
Dumbass.
youre really dumb if you think stores will just be allowed to commit mass thievery
Honestly we got rid of it here years ago and it's been fine.
You are right that if Biden did it then Trump's base would act like the sky is falling. This hyper-partisanship stuff is incredibly gay.
Might as well tell you now. When your civil war starts and you come across the border I'm going have to shoot you. Nothing personal and I'll probably die as part of all the bullshit you idiots start anyway.
So it will now be impossible to pay for anything that doesn't end in .0 or .5 with cash?
Yeah to pay the people who cut hair, work on cars, and other local merchants.
mass thievery
They'll just raise the prices, dipshit. Did you think he meant each individual cashier will round up the prices? Fucking hell you;re dense.
It won't be, which is why the prices will change.
If you pay in cash they round it off.
Reminder that getting rid of these denominations will increase prices. There's nothing wrong about a year or two without producing them but you still need them.
As inflation rises they'll get rid of these and claim it's simplification rather than enshittification.
theyll just raise the prices
what? you think its worth revaluing every single item in a store such that they always add up to a .03 instead of a .02 so that the 2% of transactions that use cash will be worth 1-2 more cents?!?!
you have to be trolling
you think he meant each individual cashier will round up the prices
That's literally what happens here. At least some POS software available can already do it since they had to program it for Canada.
Id rather just carry credit cards. Cash barely needs to exist anymore. When crypto gets more widely adopted there will be no reason for cash to exist
Well then you need to tell the other leaf that because he claims it's mass thievery and that it doesn't happen.
We still have pennies we're just not making anymore. They don't just magically disappear overnight.
he means that every individual cashier does indeed do the rounding, not that they always round up. fuck youre stupid
We got rid of our pennies in 2012. Canadian money is so fucking worthless, that the zinc they were using to make them was worth more. We stopped using copper in 1996.
He's right though. They can round up if they want to, but to do it when they should instead round down would be illegal and they would get in shit over it.
The stores don't care about raising the prices because hardly anyone pays in cash anyway so it's not worth messing with their pricing.
If you think about it, interests are just coin clipping, meaning you can clip a whole person's fortune if you just monopolize make believe numbers instead of a commodity
That would only matter if your business relies on mass amounts of single sub dollar purchases and that would only matter for cash only places.
Well now hold on let me stop you there
The thing is America never had a penny
The Penny as it turns out was British
In America it was called the Cent
If you looked on the back of the coins it clearly said that.
Of course, people called them pennies but that's not what the US Mint referred to them as.
ill give your position an steelman
you are saying that in the case of a single purchase item, lets use a chocolate bar for example. after tax today, the chocolate bar costs $2.02. after the penny is phased out, the store owner increases the base price of the chocolate bar such that it costs $2.03. yes this is correct i think
so lets have an example
you are someone who loves chocolate bars and always pays in cash. lets say you go to the store 100 times a year to buy a chocolate bar. this costs you $3.00 a year.
assuming the habit of chocolate bar buying
continues for your entire, very long lived science life, you lose $300 over youre lifetime.
is this the hill you want to die on?
Price of everything rounds up to nearest 5 cents costing consumers hundred of extra dollars per year
When you debase your currency so much you can't afford to make it. I don't think it was even that bad in Rome when it collapsed.
hand rubbing intensifies
price of everything is rounded to the nearest nickel which tends towards net zero. nice try
Might as well get rid of dollars and just move it up to 20s. Or just get rid of dollars and have us all use trumpcoins for currency.
START HOARDING PENNIES. IN 150 YEARS THEY WILL BE WORTH SOMETHING
So more inflation is what you are saying.
Merchant no 1: "I will raise every single item by a few cents and reap the benefit of the new change."
Merchant no 2: "I will not do that, but round up or down depending on the total, and undercut my competitor without even trying."
Inflation is a fact of live, and the currency should reflect that. Ours is borderline unusable as the coins and notes haven't been updated for years.
inflation has nothing to do with this. man this thread is really economically illiterate
Have fun getting your assets frozen when your smartphone spies on you and notices you said something bad about <current leader>
youknowwhatsbullshitbros… we won
If you don't use cash how do you buy rifles at the flea market? Omg this board is full of pussies who don't even do that. Summers here!
they dont get a choice whether they round down or up thats not how rounding works holy fuck im going to ACK myself you people are so retarded
How do you not have a choice?
1 step closer to a cashless society.
but round up or down depending on the total
that's my ESL way of saying "follow the rules"
oh no not the
checks notes
not the heckin penny
Gay. I like pennies. Guess all my old ones will go up in value just like my Canadian pennies. They are gonna try and rob you tho by rounding up your purchases to the nearest 5 cents.
My dad put a penny in one of those coin crushing machines at the franklin institute hoping to get a ben franklin one, but when he got albert einstein he yelled CRIMINAL JEW BASTARD and launched it over the balcony we were near. Without the penny I wouldn't have that fond memory of my father from decades ago.
create massive annoyances and confusion for years to come
to save $59 million
not even a fucking rounding error in the federal budget. god i hate republicans so fucking much.
What gets rounded is the total price after taxes. Hardly anyone is buying a single item in cash. It's not worth messing around with all their prices which are already set based on whatever bullshit psychology they think will maximize profits, so they end in 99 or whatever dumb shit they think will work.
End coins. having a mixed coin-and-paper system is a relic.
do you even use cash?
I keep some around and use it for a few things, like liquor. The store gives a cash discount and everyone should know that their goycard tracks what exactly they are buying and may downgrade your goyscore for buying alcohol or going to bars. They also sell your info to your goysurance company who use it to raise your rates. Good to keep some things off the books
ending in 1,2,6,7 rounds down, ending in 3,4,8,9 rounds up. I assume
cash discount on liqour
ive never seen a store cater to the homeless beggars like that. based american free market
checked, get a load of this dystopia lover!
They don't just magically disappear overnight.
kek they do disappear overnight. Almost all pennies are given to people in change and then put in a jar or accidentally dropped in the street. Did you forget about the 2020 coin shortage? Most coins don't stay in circulation. They're a joke.
it's big superstore my good leaf, not a corner bodega. Every store should, credit cards are modern coin clippers
inb4 muh goypoints
the best you can do with those is make back some of what the fees cost you
i suppose its possible you somehow phase out the penny and allow vendors to always round up.
thats fucking insane in my opinion and it will be regulated that they round to the /nearest/ $.05 as laid out
honestly didnt understand this post but i want a cash discount on my liqour
Absolute retardation. Have you taken even a second to think how much money that rounding is stealing from the public? 1-4 cents for every item. Every purchase. For every person. In perpetuity. It cost the fed how much to make them? A couple hundred million a year even while discounting the face value of the coin? Meanwhile from grocery shopping alone using really incredibly generously conservative estimates of 1 grocery trip a week, only buying 4 items a trip, and an average rounding of 2.5 cents the loss of the penny and the rounding up do you have any idea the collective cost of that? Zoom out. The whole nation. The whole population. On these conservatives estimates for groceries alone and absolutely nothing else your talking a loss of 22 fucking billion dollars ANNUALLY that would have otherwise stayed in americans pockets in order to save the fed 200 Million that is paid for by taxes to begin with. Idiocy.
1-4 cents for every item.
no, the rounding is at the end of the transaction...........................
honestly didnt understand this post but i want a cash discount on my liqour
which part? A bodega is a shitty inner city store, frequented by crackheads and bums. The other point is credit card companies are screwing everyone, they are the ultimate (((middleman))). Their extra cost is built into the price of just about everything, and even if you play the rewards points games they are still making money off you. All stores should offer cash discount like my liquor store. It's fairly big too, couple of dollars on even a $20 bottle
DO BURGERS IN THIS THREAD THINK THAT PHASING OUT THE PENNY MEANS THAT STORES CAN ONLY PRICE ITEMS AT $.05 INTERVALS?
It cost the fed how much to make them? A couple hundred million a year
The savings is like $56 million a year. Which is nothing in the big picture of the federal budget. I agree it's bullshit, and you know it won't stop here. They'll eventually phase out all coins and round everything up to the nearest dollar.
They'll eventually phase out all coins and round everything up to the nearest dollar.
The step after that is banning cash. Then your social credit score will be tied to whether or not you are allowed to buy food.
Republicans are such fucking cucks it's unreal.
Pennies stopped existing the moment they stopped putting the lincoln memorial on the back.
Even more inflation incoming for burgers.
ALL CASH IS MEANINGLESS BEYOND A MEANS OF EXCHANGE SINCE IT WAS TAKEN OFF THE GOLD STANDARD. IM CRASHING OUT REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEMOVING A DENOMINATION FROM CIRCULATION HAS NO EFFECT ON WHAT VENDORS CAN CHARGE FOR GOODS
Been going around for a while now, phamalanadingdong.
Lets say you're right. Lets say not a single producer or distributor tries to take advantage of this by rounding individual items. Not one. It is only applied per transaction. There are 340 million people in the us. With an average rounding of 2.5 cents do you know how many transactions per person it will take before the money lost exceeds that which the fed saves? One. If this figure here is correct by the time every american makes one singular purches the cost will have exceed the savings. If it really is more like 200 million it's about 3 transactions per person. And everything I've said is being as generous as possible about how much shopping people really do and how companies conduct buinesses.
Its a sign of incoming hyper inflation. Same thing happened to Canada. Since they ended the penny the cost of food has doubled at minimum.
I went to a concert last month and was met with a cashless experience, coat check, bar, tips, everything was tap. I felt old with this stack of cash ready to use.
The normies will never understand.
Just let them shuffle their monopoly money around like big boys.
yeah sure if for some reason you remove the penny and then just allow all vendors to round up then yes, this is a jewish steal.
thats not what happened in any other country that has removed denomination of currency ever.