Go Back   MacRumors Forums > Mac Community > Community Discussion > Politics, Religion, Social Issues

Reply
 
Thread Tools Search this Thread Display Modes
Old Jan 5, 2013, 04:20 PM   #51
jnpy!$4g3cwk
macrumors 6502a
 
Join Date: Feb 2010
Quote:
Originally Posted by Peace View Post
The idea of interest rates will keep the penny around for a long,long time.
Dropping the use of penny and nickel coins does not imply that accounting cannot still be done to the penny. The real problem isn't the cost of goods, but, sales tax. (Yes, some people do still use cash for small purchases.) In any case, I would be happy to abolish sales tax in order to stop using pennies and nickels.
jnpy!$4g3cwk is offline   0 Reply With Quote
Old Jan 5, 2013, 04:35 PM   #52
Mac'nCheese
macrumors 68020
 
Mac'nCheese's Avatar
 
Join Date: Feb 2010
The USA needs to go to the metric system, use one dollar coins instead of bills but leave the penny alone.

Quote:
Originally Posted by Rodimus Prime View Post

Penny is worthless. Hell I also vote kill the paper dollar bill and go to a coin so they last longer before they need to be pull out.
That's what she said.
Mac'nCheese is offline   0 Reply With Quote
Old Jan 5, 2013, 04:36 PM   #53
citizenzen
macrumors 65816
 
Join Date: Mar 2010
Quote:
Originally Posted by dukebound85 View Post
I use my card for online and gas but everything else tends to be cash and checks.
Checks?!



Oh, so you're the guy slowing down the checkout line while you painstakingly fill out your check and register.

Feel free to join us in the 21st century.

citizenzen is offline   2 Reply With Quote
Old Jan 5, 2013, 04:37 PM   #54
Bug-Creator
macrumors regular
 
Join Date: May 2011
Location: Germany
I don't think that sales tax would really be an issue, just put it on the price-sticker.

Merchants over here have no problem keeping their beloved x.99-prices whatever the sales tax is in any given year.

But the real question is, bout how much money are we talking ?

O.k. 1c cost 2ct but how many are made each year ? Even at 1billion pieces that would be a measly 10 million $ loss. I'm sure the federal reserve has some much bigger issue (you know like making billions a month out of thin air).
Bug-Creator is offline   0 Reply With Quote
Old Jan 5, 2013, 05:00 PM   #55
SilentPanda
Moderator emeritus
 
SilentPanda's Avatar
 
Join Date: Oct 2002
Location: The Bamboo Forest
Quote:
Originally Posted by Mac'nCheese View Post
but leave the penny alone.
What is you reason?
__________________
My 24 hour web cam! ʕノᴥʔノ ︵ ┻━┻
And remember.
SilentPanda is offline   0 Reply With Quote
Old Jan 5, 2013, 05:18 PM   #56
MorphingDragon
Banned
 
Join Date: Mar 2009
Location: The World Inbetween
Send a message via Skype™ to MorphingDragon
Quote:
Originally Posted by SilentPanda View Post
What is you reason?
Because because because, President Lincoln!
MorphingDragon is offline   0 Reply With Quote
Old Jan 5, 2013, 05:25 PM   #57
davidinva
macrumors 6502
 
Join Date: Mar 2009
Location: Shenandoah Valley of Virginia, USA
Getting rid of cash probably wouldn't work because of the underground economy which is an unknown quantity but significant.
davidinva is offline   1 Reply With Quote
Old Jan 5, 2013, 05:55 PM   #58
Mac'nCheese
macrumors 68020
 
Mac'nCheese's Avatar
 
Join Date: Feb 2010
Quote:
Originally Posted by SilentPanda View Post
What is you reason?
I don't see a reason for getting rid of it. It is used everyday and until someone tells me we would save any worthwhile amount of money, keep it.
Mac'nCheese is offline   1 Reply With Quote
Old Jan 5, 2013, 06:00 PM   #59
skunk
macrumors Demi-God
 
skunk's Avatar
 
Join Date: Jun 2002
Location: Republic of Ukistan
If the interweb broke down, physical cash would be pretty handy. Makes accounting easier, too. Either you have a pile under the mattress, or you haven't.
__________________
"The louder he talked of his honor, the faster we counted the spoons." -- Ralph Waldo Emerson
skunk is online now   2 Reply With Quote
Old Jan 5, 2013, 06:02 PM   #60
thekev
macrumors 603
 
thekev's Avatar
 
Join Date: Aug 2010
Quote:
Originally Posted by Peace View Post
iTunes movie rental : $4.99
Gasoline : $3.4999
Bread : $4.59
Wal-Mart ( or any other major store ) item : $3.99

AAPL Stock :

Volume 21,225,980
Shares 938,819,000
Market Cap 494.76B
52 Week High 705.07
52 Week Low 412.67
EPS 44.15
P/E Ratio 11.94
Div Yield 1.96

----------------------

Just a few examples of the use of cents.

Until there is a cashless economy there will always be pennies.
This is really silly. It doesn't mean you can't account to two decimal places. $3.99 becomes $4 if paid in cash. I mentioned other countries have already done this. Minting worthless currency is just an unnecessary burden that is essentially decoupled from the accounting aspect you mentioned there.


Quote:
Originally Posted by wordoflife View Post
Consumers would then be hit with a higher rounding tax.
That is a truly minor issue. If paid by credit card, the amount can be billed exactly. If you're talking about a long list of items, this can be applied to the total. Food isn't subject to sales tax here. If a loaf of bread costs $3.99, you put down $4 if paying in cash. I don't see the big deal. You could chop every coin up to the quarter. If the quarter is expensive, replace it with something that is cheaply manufactured. Paper money isn't made from metal or anything with a minor form of intrinsic value.
__________________
world's largest manufacturer of tin foil hats, none of that aluminum foil crap.

Last edited by thekev; Jan 5, 2013 at 06:09 PM.
thekev is online now   0 Reply With Quote
Old Jan 5, 2013, 06:06 PM   #61
duneriderltr450
macrumors 6502
 
Join Date: Sep 2012
Location: Oregon
Quote:
Originally Posted by citizenzen View Post
I rarely carry cash. There's just so little need for it these days.

I'd be totally open to not only getting rid of pennies, but getting rid of cash altogether.
x2 I can't even make it a whole year without ordering a new debit card because the magstripe is so worn and doesn't read anymore.
duneriderltr450 is offline   0 Reply With Quote
Old Jan 5, 2013, 06:07 PM   #62
dukebound85
macrumors P6
 
dukebound85's Avatar
 
Join Date: Jul 2005
Location: 5045 feet above sea level
On the other end of the spectrum it costs substantially less to make a 100 dollar bill than 100 bucks. I think the government is ok

There has been some mention of minting a trillion dollar coin too
dukebound85 is offline   0 Reply With Quote
Old Jan 5, 2013, 06:10 PM   #63
SilentPanda
Moderator emeritus
 
SilentPanda's Avatar
 
Join Date: Oct 2002
Location: The Bamboo Forest
Quote:
Originally Posted by Mac'nCheese View Post
I don't see a reason for getting rid of it. It is used everyday and until someone tells me we would save any worthwhile amount of money, keep it.
So do you dispute the reasons given prior in this thread? If so, which ones and why?
__________________
My 24 hour web cam! ʕノᴥʔノ ︵ ┻━┻
And remember.
SilentPanda is offline   0 Reply With Quote
Old Jan 5, 2013, 06:18 PM   #64
skunk
macrumors Demi-God
 
skunk's Avatar
 
Join Date: Jun 2002
Location: Republic of Ukistan
Quote:
Originally Posted by dukebound85 View Post
There has been some mention of minting a trillion dollar coin too
Just think, you could pay off the entire deficit with a pocketful of change!

----------

Anyway, as inflation reduces the value of currencies, the smallest denominations naturally become progressively more redundant for physical transactions, but I would not like to be without cash as a means of exchange. As a builder, I use it all the time.
__________________
"The louder he talked of his honor, the faster we counted the spoons." -- Ralph Waldo Emerson
skunk is online now   0 Reply With Quote
Old Jan 5, 2013, 06:27 PM   #65
Huntn
macrumors 604
 
Huntn's Avatar
 
Join Date: May 2008
Location: The Misty Mountains
We could easily dump pennys, nickels, and dimes.
__________________
The modern business ethos: "I'm worth it, you're not, and I'm a glutton!"
MBP, 2.2 GHz intel i7, Radeon HD 6750M, Bootcamp: W7.
PC: i5 4670k, 8GB RAM, Asus GTX670 (2GB VRAM), W7.
Huntn is offline   0 Reply With Quote
Old Jan 5, 2013, 06:29 PM   #66
skunk
macrumors Demi-God
 
skunk's Avatar
 
Join Date: Jun 2002
Location: Republic of Ukistan
Quote:
Originally Posted by Huntn View Post
We could easily dump pennys, nickels, and dimes.
Dimes should stay. Helps kids learn the decimal system...
__________________
"The louder he talked of his honor, the faster we counted the spoons." -- Ralph Waldo Emerson
skunk is online now   0 Reply With Quote
Old Jan 5, 2013, 06:31 PM   #67
Huntn
macrumors 604
 
Huntn's Avatar
 
Join Date: May 2008
Location: The Misty Mountains
Quote:
Originally Posted by skunk View Post
Dimes should stay. Helps kids learn the decimal system...
Good point. It strikes me, although I have not researched this, that bills are super expensive. Too bad we can't do something about those.
__________________
The modern business ethos: "I'm worth it, you're not, and I'm a glutton!"
MBP, 2.2 GHz intel i7, Radeon HD 6750M, Bootcamp: W7.
PC: i5 4670k, 8GB RAM, Asus GTX670 (2GB VRAM), W7.
Huntn is offline   0 Reply With Quote
Old Jan 5, 2013, 06:32 PM   #68
SilentPanda
Moderator emeritus
 
SilentPanda's Avatar
 
Join Date: Oct 2002
Location: The Bamboo Forest
Quote:
Originally Posted by skunk View Post
Dimes should stay. Helps kids learn the decimal system...
If you keep dimes then quarters are only useful in pairs. Kids can learn the decimal system elsewhere.
__________________
My 24 hour web cam! ʕノᴥʔノ ︵ ┻━┻
And remember.
SilentPanda is offline   0 Reply With Quote
Old Jan 5, 2013, 06:44 PM   #69
mrsir2009
macrumors 604
 
mrsir2009's Avatar
 
Join Date: Sep 2009
Location: Melbourne, Australia
Quote:
Originally Posted by Peace View Post
iTunes movie rental : $4.99
Gasoline : $3.4999
Bread : $4.59
Wal-Mart ( or any other major store ) item : $3.99

AAPL Stock :

Volume 21,225,980
Shares 938,819,000
Market Cap 494.76B
52 Week High 705.07
52 Week Low 412.67
EPS 44.15
P/E Ratio 11.94
Div Yield 1.96

----------------------

Just a few examples of the use of cents.

Until there is a cashless economy there will always be pennies.
In NZ we don't have pennies (10 cents is the lowest coin) and things still cost $3.99 in stores - We just round it and pay $4.00, not worrying about the measly one cent
mrsir2009 is offline   0 Reply With Quote
Old Jan 5, 2013, 06:45 PM   #70
MorphingDragon
Banned
 
Join Date: Mar 2009
Location: The World Inbetween
Send a message via Skype™ to MorphingDragon
Quote:
Originally Posted by skunk View Post
Dimes should stay. Helps kids learn the decimal system...
Yes kids should learn the decimal system then go ahead and not use the Metric system.
MorphingDragon is offline   0 Reply With Quote
Old Jan 5, 2013, 06:50 PM   #71
chown33
macrumors 603
 
Join Date: Aug 2009
Quote:
Originally Posted by SilentPanda View Post
If you keep dimes then quarters are only useful in pairs. Kids can learn the decimal system elsewhere.
Keep dimes, ditch quarters, make half-dollars practical (smaller). Result: a 1-2-5 series:
http://en.wikipedia.org/wiki/Preferr...r#1-2-5_series

Better, convert all coinage and bills to a 1-2-5 series, starting at dimes.
chown33 is offline   0 Reply With Quote
Old Jan 5, 2013, 06:53 PM   #72
skunk
macrumors Demi-God
 
skunk's Avatar
 
Join Date: Jun 2002
Location: Republic of Ukistan
Quote:
Originally Posted by MorphingDragon View Post
Yes kids should learn the decimal system then go ahead and not use the Metric system.
I buy my timber in "metric feet" (increments of 300mm).
__________________
"The louder he talked of his honor, the faster we counted the spoons." -- Ralph Waldo Emerson
skunk is online now   0 Reply With Quote
Old Jan 5, 2013, 06:54 PM   #73
SilentPanda
Moderator emeritus
 
SilentPanda's Avatar
 
Join Date: Oct 2002
Location: The Bamboo Forest
Quote:
Originally Posted by chown33 View Post
Keep dimes, ditch quarters, make half-dollars practical (smaller). Result: a 1-2-5 series:
http://en.wikipedia.org/wiki/Preferr...r#1-2-5_series

Better, convert all coinage and bills to a 1-2-5 series, starting at dimes.
We could change to a base 12 system! (It makes sense but there's no way it'd happen)



I wouldn't be opposed to a 1-2-5 system though. We already have 1, 2, and 5 dollar bills, 10, 20, and 50 also.
__________________
My 24 hour web cam! ʕノᴥʔノ ︵ ┻━┻
And remember.
SilentPanda is offline   0 Reply With Quote
Old Jan 5, 2013, 06:54 PM   #74
APlotdevice
macrumors 68020
 
APlotdevice's Avatar
 
Join Date: Sep 2011
Quote:
Originally Posted by wordoflife View Post
Rounding to the nearest 5 cents isn't going to fix anything. People will start using more nickels and they're 11 cents to make (6 cents higher than their worth).
They could reduce the cost of Nickels by adding Zinc to their chemistry; the same element that modern pennies are primarily made of.
__________________
There is something deeply wrong with a society more offended by breasts than by entrails.
Pebble SmartWatch | iPhone 5c | 11" Macbook Air '13 | HTPC | TV | Numerous Old Consoles
APlotdevice is offline   0 Reply With Quote
Old Jan 5, 2013, 06:55 PM   #75
Sydde
macrumors 68000
 
Sydde's Avatar
 
Join Date: Aug 2009
US coinage should be $5, 1$, quarter and bit (two bits in a quarter).
__________________
You got to be a spirit. You can't be no ghost.
Sydde is offline   0 Reply With Quote


Reply
MacRumors Forums > Mac Community > Community Discussion > Politics, Religion, Social Issues

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Similar Threads
thread Thread Starter Forum Replies Last Post
5s worth every penny!!! echo44 iPhone 6 Sep 21, 2013 02:55 AM
Anyone use penny auctions? Astroboy907 Buying Tips and Advice 23 Jul 28, 2013 07:26 PM
Penny Auctions Squilly Community Discussion 11 Jan 16, 2013 02:39 PM
iPhone 5 costs $168 in parts to make! Big.Mac.Daddy iPhone 33 Sep 14, 2012 02:25 PM

Forum Jump

All times are GMT -5. The time now is 05:17 PM.

Mac Rumors | Mac | iPhone | iPhone Game Reviews | iPhone Apps

Mobile Version | Fixed | Fluid | Fluid HD
Copyright 2002-2013, MacRumors.com, LLC