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Banning Pennies.

fire_wings
Posts: 5,555
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2/24/2016 5:53:11 AM
Posted: 9 months ago
Everyone knows pennies, they are 1 cent. This is a small amount of money. How do they make pennies? It is made of copper or zinc. However this costs more that 1 cent. Do you think we should ban pennies then?
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Chang29
Posts: 732
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2/24/2016 12:28:40 PM
Posted: 9 months ago
Only a government can take good materials and make them worth less.

The solution is to end central banking.
A free market anti-capitalist

If it can be de-centralized, it will be de-centralized.
Quadrunner
Posts: 1,074
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3/18/2016 11:21:07 PM
Posted: 8 months ago
At 2/24/2016 5:53:11 AM, fire_wings wrote:
Everyone knows pennies, they are 1 cent. This is a small amount of money. How do they make pennies? It is made of copper or zinc. However this costs more that 1 cent. Do you think we should ban pennies then?

I think the important thing to remember is that the penny is worth 1 cent to every person who possesses it in its life. So if the penny gets spent 1000 times, then it has more then paid for itself through its service to this country if it cost barely over a cent to make because it helped people make/spend 1 cent 1000 times.

Another thing to think about is who is paying over 1 cent to make a copper plated zinc penny these days. If American labor created the penny, then its not really costing the economy. The main thing as that money is flowing so the economy can keep running. It doesn't really matter what we spend it on, so long as we are spending the money on something that will benefit our lives in some shape or form.

So does the penny benefit us enough to justify spending a fraction over 1 cent to manufacture? I think so. I still like them. I think as long as they are worth 1% of my candy bar purchase their still worth keeping, but what do I know?
Wisdom is found where the wise seek it.