941–950 of 981 posts
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I don't want to be glib, but hey what the hey. This is how you can see that the United States is in decline; it can no longer discontinue a coin through legislation.
The last time America discontinued a coin legislatively was the half cent about 150 years ago. That's a pretty long decline.
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> Look, the Mint has one job, to make money. If it's losing money, it doesn't make cents. :P I realize this is a joke but again, my objection is that this is the actual reason given. > But, while coins are durable, the Mint has been making billions of pennies every year since the 1950s, and yet retailers have trouble sourcing enough pennies to make change. They do tend not to be recirculated, even if they're not disp…
> These are all better reasons than the one we were given. Explaining that it costs 4c to make a 1c coin is a pretty clear and solid justification. People know that producing a physical unit of currency should cost considerably less than its face value, and if not, it's a huge problem. Complaining that one news article, which is just reporting a current event, doesn't give you an in-depth background analysis and cont…
It’s really not though, for the reasons I described already.
> Complaining that one news article, which is just reporting a current event, doesn't give you an in-depth background analysis and context, is absurd.
Well then it’s good that I didn’t do that.
> If you care about a topic enough to want that level of in-depth, you can go look for it elsewhere.
Like the HN comment section?
Trump himself said:
> For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!
That certainly sounds like the reason is production cost and not any of the compelling reasons you have provided.
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I want to get rid of bills and move to only coins. We can carry coin pouches and act like a medieval/fantasy novel character.
IMO best would be some kind of money where you could physically break a given piece of cash into two pieces of half the value.
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> Because Canada is just part of the U.S. As a Canadian, I'm amused to hear this because it is basically true as a first approximation. Random factoid - Canadian coins ($2, $1, $0.25, $0.10, $0.05, $0.01 (withdrawn)) come in almost the same denominations as US coins ($1 (uncommon), $0.05 (rare), $0.25, $0.10, $0.05, $0.01), and they are the same diameter and thickness, but maybe having different weight and magnetic p…
> Another weird thing is that the National Basketball Association (NBA) has 29 American teams and 1 Canadian one The NHL is a better example of this, I think.
With the recent conclusion of the "World" Series, my mind actually went to the Blue Jays first, but they're in the American League. At least that one's technically correct.
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Australian here. Barely anyone uses cash anymore. It's weird to see debates about moving towards technology we had 35 years ago which we don't even use anymore.
Going to the US feels like going backwards in time in many ways. Banking, public transit, healthcare, education. A friend from Australia came to visit and after a day driving around New York State said “it feels half finished”
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One of the things I admire most about Italy is how they have held the line on the price of an espresso. It’s still just slightly over €1 if you drink it standing at the bar. They really have their priorities straight when it comes to food and drink prices.
So they charge more for an espresso if you want to drink it seated? Or take it away?
I don’t think I ever took away a coffee during any of my vacations in Italy, and very rarely so anyone else doing so, either. Either drinking it standing at the bar or seated at a table.
I'm not sure why the article says this is so hard for retailers to figure out. They already round . When they apply 7% sales tax to a $1.99 purchase, what do they charge you? $2.1293? Obviously not. Just do whatever they already do.
The article mentions several practical and legal issues, and your comment does not address any of them. Also, "whatever they do" currently is rounding to two decimal places - that doesn't help us here. I'm not saying the software changes required are challenging, but I'm sure there are lots of POS systems that are not properly maintained anymore that will cause issues for a lot of smaller merchants.
If you want a specific solution:
1. use a POS that supports rounding to the nearest 5 cents
2. ignore laws written assuming the penny is in production. they obviously need to be updated. judges are not idiots.
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I’d regularly use quarters in vending machines, but not waste time during a retail transaction.
It's amazing to me that people consider "saving time while paying money" to be a good thing. I will never "tap" my debit card as long as I have any legal option. Everyone else can wait for me to exercise my consumer rights, by inputting my PIN, verifying the amount displayed on screen etc.
How pitiful are you to think "consumer rights" not only exist, but are worth "exercising"? What, do you have the right to spend money on marked-up garbage? The right to be sold to bigger "consumers"? You are just a "consumer" and not a citizen, apparently.
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I don’t understand why it costing more than face value to mint is such a bad thing
This is one of the stupidest comments I have seen on the internet bar none. Wasting money is bad. I should not have to explain further.