Penny Abolition Debate
The cluster discusses eliminating the US penny and other small coins like nickels and dimes, citing production costs, handling inconveniences, and examples from countries like Australia, New Zealand, and the EU that have abolished them with rounding to nearest 5 cents.
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Whats wrong with using pennies?
We don't need to "imagine" not being able to divide up money past the 5 cent barrier. Here in Australia, pennies have been abolished and everything is either rounded up or down to the nearest 5 cents.New Zealand has already taken it one step further and has abolished 5-cent coins as well, rounding everything to the nearest 10. There's talk of doing that in Australia as well.Keep in mind that the Aussie dollar is worth more than a US one, and Kiwi dollar is worth only 20% less, so we're tal
we don’t have “pennies” in the EU anymore
Pennies (or any equivalents) are not the smallest unit in any currency. Fractions of it are perfectly acceptable and even common.
i think ~5 cents per capita is a fine price to pay to never have to think about pennies again
Rely on what that couldn't be better served by $1 coins?
I would have gotten rid of nickels and dimes; then everything is priced in 1/4 dollars.
Abolish the penny, use a uniform rounding rule to make the nickel the smallest denomination. I hate pennies.
get rid of at least the pennies, nickles and dimes (because the dimes are just too small)
I guess it's easier to kill the penny than to divide all prices by a factor of 2.