The US penny: Should it be scrapped?

[pmaitra]

The US penny: Should it be scrapped?

By Cordelia Hebblethwaite
BBC News, Washington DC

Canada has stopped producing the penny coin, deeming it a waste of money. The move has re-ignited a long-running debate in the US over the future of its single cent, and the question is sometimes raised in the UK too. So is it time to ditch the penny?

No pennies please: Jim Turner at his campground, and the sign that greets customers to Shell Lumber

Canada's penny law

• Goods can still be priced in pennies, and pennies remain legal tender, but no new pennies will be minted, or distributed
• Shops to round the final price at the till after tax, to the nearest 5 cents
• Card payments and cheques can still be made to the cent
• Government encourages people to donate pennies to charity

Edmond Knowles from Flomaton, Alabama collected over 1.3 million pennies, before cashing them in for $13,084.59 in 2005. It is believed to be the biggest cash-in of pennies anywhere in the world.

Say it with a penny"¦

• Find a penny, pick it up, and all day you'll have good luck
• A penny for your thoughts
• Penny wise and pound foolish
• Has the penny dropped?
• Penny-pinching
• Penny ante
• Ten a penny
• To cost a pretty penny
• Like an old penny
• To spend a penny
• In for a penny, in for a pound

Read full article: BBC News - The US penny: Should it be scrapped?

 

[indian_sukhoi]

Interesting Facts - especially the moon part!!!

I have a bunch of cents with me in my collection

 

[W.G.Ewald]

Find a penny, pick it up, and all day you'll have good luck.

Only if it's heads up.

We don't need to do anything just because Canada does it.

We don't have the penny now, anyway. The US coin is a one cent piece, not a "penny.".

The penny is a British coin.

 

[Bhadra]

Only if it's heads up.

We don't need to do anything just because Canada does it.

We don't have the penny now, anyway. The US coin is a one cent piece, not a "penny.".

The penny is a British coin.

They say penny is wise and cent is indecent !