Re: Penny Controversy

Reclining Buddha vomited thusly:
***, I hope you don't take your impression of the American people as a
whole from the curmudgeons in this newsgroup. I don't know what gave
them the idea that cents are supposed to circulate as a medium of
exchange, rather than as a way to receive back your full change from a
purchase. Even 100 years ago, only the very poor or little children
would have gone shopping with only one or two cents to spend. For
crying out loud, 6 ounces of Coca-Cola cost 5 cents a hundred years
ago! If it can't buy a 1/2 can of Coke, is it really money?

Oh I don't know - I'm less than 100 years old and remember buying penny
candy back in the 50's.

Also, In the real world of day-to-day living, people don't care about
the cent one way or another - they just don't want to be cheated out
of a cent or two on principle. Here are a few, mostly true,
generalizations about the American general public:

1. A cent or two means nothing to the average adult, unless they are
that much short to make a particular purchase.

And you know that because you've conducted a scientific poll, right?


2. Nobody gives rounding a second thought, either for or against.
They take what change the cashier gives them, and occasionally checks
the receipt for accuracy. If the receipt is rounded, it will match
their change and all is well.

Again, another ludicrous assertion with no foundation in fact.

3. People who buy single items costing less than a dollar aren't
concerned about a cent or two loss from rounding. Most such purchases
are made at gas stations and convenience stores, where these items
normally cost 50% to 100% more than they cost at a traditional store.

Try shortchanging somebody by a few cents and see if they complain.
Yet another blowhard assertion not grounded in fact.

5. People who are terribly vocal about keeping OR discontinuing the
American cent are a small part of 1% of the population, and can safely
be ignored ;-).

I think the one who can safely be ignored is you.
You're nothing but a blowhard and an idiot.

The mint may lose $ on cents and nickles but is more than made up for
by the profit on the rest of the coinage.
The idea that the mint should make money on coinage is a new one
brought on by illegal currency (FRNs) that has no backing other than
government fiat.
Bring back the good old days when our money was based on gold and
silver!

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