advertisement
Forums

The Forum is sponsored by 
 

AAPL stock: Click Here

You are currently viewing the Tips and Deals forum
When a 1 Penny is really worth 1.4 Cents
Posted by: OWC Larry
Date: June 01, 2006 06:52PM
Or at least that's what it now costs to make.... and soon, if zinc continues to rise - won't just cost more, the raw value will be more than 1 penny too!

[money.cnn.com]



OWC Larry
Other World Computing
[www.macsales.com]
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: Phy
Date: June 01, 2006 07:08PM
But who will PAY more for pennies??
That's the question.

The answer is probably...

... the American consumer.
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: Tofer
Date: June 01, 2006 07:10PM
I lived in Australia for a couple of years, and it took about one minute to get used to the rounding (they have no 1-cent coin; the lowest denomination is 5c). My feeling is that inflation will go down slightly when this happens, as instead of seeing prices like $9.99, you'll see $9.95 instead of $10.

The cash registers round automatically, and everyone just deals with it. I suppose there is the possiblity to take advantage of the Superman III / Office Space leftover-rounding error issue...

Anyway, I'm all for ditching the penny.

-Tofer
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: Ken Sp.
Date: June 01, 2006 07:14PM
I will go buy 100 Million pennies and sell them to the mint for 1.3 cents--It will save them money, and I will make $300,000.00 on the deal :-)
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: Phy
Date: June 01, 2006 07:15PM
Tofer, they've done that in the overseas Military Exchanges, as well.



Edited 1 time(s). Last edit at 06/01/2006 07:23PM by Phy.
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: microchip13
Date: June 01, 2006 07:24PM
I don't care about the penny.

I want the dollar bill to end, and have a widespread 50 cent coin and a dollar coin.



_______________________________________________________________
Security is just a word. The act of being secure is entirely different.
"...but I think that to make your dream a reality, having a dream itself is a mandatory prerequisite"
From A Book: Walking Through The Impossible

Just because it has two clutches, shifts faster, uses a torque converter or has near-infinite gear ratios, requires less driver intervention and is more efficient doesn't make it better in my opinion.
Save The Manual Transmission
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: Phy
Date: June 01, 2006 07:29PM
Quote
Ken Sp.
I will go buy 100 Million pennies and sell them to the mint for 1.3 cents--It will save them money, and I will make $300,000.00 on the deal <img class="mod_smileys_img" src="smileys/smilie1.gif" alt=":-)" title=":-)"/>

...and the rental for the trucks to haul the pennies will eat most of your profits...
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: Carm
Date: June 01, 2006 08:17PM
Kramer where is Newman !!!! Sienfeld

Carm
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: mrlynn
Date: June 01, 2006 08:43PM
It's time to revalue the dollar. Take it back to 1950 levels, when a cup of coffee was a dime, and then the penny will be worth something again.

Anybody remember the mil, which was 1/10th of a cent (used only for promotions, I believe—not a real coin)?

/Mr Lynn
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: BigGuynRusty
Date: June 01, 2006 09:05PM
mrlynn asks.:
"Anybody remember the mil, which was 1/10th of a cent (used only for promotions, I believe—not a real coin)?"

I think it is a "Mill", and it is 1,000th of a cent. Used a lot on coupons fine print where it says, "Actual Value".
Folks used to get sheets of the coupons and cash them in for face value, my Uncle worked at the Albuquerque Journal and used to do that.

BGnR
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: mrlynn
Date: June 01, 2006 09:16PM
BGN, you're right about the spelling, but wrong about the value; it was 1/1000th of a dollar, or 1/10th of a cent.

See here: [en.wikipedia.org]

I remember plastic ones.

/Mr Lynn
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: BigGuynRusty
Date: June 01, 2006 10:46PM
Quote
mrlynn
BGN, you're right about the spelling, but wrong about the value; it was 1/1000th of a dollar, or 1/10th of a cent.
<br />

<br />
See here: [<a target=_blank href="[en.wikipedia.org];]
<br />

<br />
I remember plastic ones.
<br />

<br />
/Mr Lynn

Cool, thanks, I got mixed up because the coupons said, "Actual Value, 1-1,000 of a Mill." Called a buddy of mine that remembers this stuff.

BGnR
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: cbelt3
Date: June 01, 2006 11:26PM
Many countries make their smallest denomination coins from low value materials. I recall some made from aluminum (which, of course, like all metals, has increased in value).
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: Baby Tats
Date: June 02, 2006 12:27AM
I like the dollar coin, but nobody uses them so they are hard to find except as change in the post office stamp machines.

I don't like pennies. But mostly it is because they smell like ass.

Can you pick the real penny? [www.exploratorium.edu]


BT
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: Racer X
Date: June 02, 2006 04:29AM
Quote
cbelt3
Many countries make their smallest denomination coins from low value materials. I recall some made from aluminum (which, of course, like all metals, has increased in value).

french WW II coins, for example.

In Mexico, the smallest bills are 20 pesos (@2 bucks). paper wears out too quick.



Edited 1 time(s). Last edit at 06/02/2006 04:31AM by Racer X.
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: raz
Date: June 02, 2006 08:33AM
Chippy's half right.

Drop the penny AND the dollar bill. I think the problem with the latter is the wretched SBA dollar of the late 70s (almost indistinguishable from the quarter) killed the concept. The current Sacagawea (sp?) ones are much better.

As to the penny, I just make use of the 'Lincoln Bins' at the checkout to drop off/add to my pennies as needed. When the general public treats the things as common property, you know they're worthless.



--------------

Embarassing myself on the Internet since 1978.
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: mrlynn
Date: June 02, 2006 09:05AM
Quote
raz
As to the penny, I just make use of the 'Lincoln Bins' at the checkout to drop off/add to my pennies as needed. When the general public treats the things as common property, you know they're worthless.

I still pick 'em up off the sidewalk. A penny saved. . .

But come on, let's revalue the currency. It's just inflation that has made the pennies worth so little.

/Mr Lynn
Options:  Reply • Quote
Re: When a 1 Penny is really worth 1.4 Cents
Posted by: raz
Date: June 02, 2006 11:03AM
Quote
mrlynn
<blockquote class="bbcode">Quote:<div><strong>raz</strong><br />As to the penny, I just make use of the 'Lincoln Bins' at the checkout to drop off/add to my pennies as needed. When the general public treats the things as common property, you know they're worthless.</div></blockquote>

<br />
I still pick 'em up off the sidewalk. A penny saved. . .
<br />

<br />
/Mr Lynn

... until the day when you bend down to pick it up and throw out your back. Ithrew my back out on Tuesday morning (not picking up pennies), and have no idea how it happened.



--------------

Embarassing myself on the Internet since 1978.
Options:  Reply • Quote
Sorry, only registered users may post in this forum.

Click here to login

Online Users

Guests: 102
Record Number of Users: 186 on February 20, 2020
Record Number of Guests: 5122 on October 03, 2020