Vending Machines

[Cdub100 3,903]

Why don't these focking things take pennies?

[wiffleball 4,790]

Where I used to work, there was a stamp machine that took a certain amount of pennies. I freaking loved that. I'd max out my penny usage on that machine just to clean out my desk.

[KSB2424 3,148]

They should just get rid of pennies and round everything to the nearest nickel.

[bostonlager 2,664]

They should just get rid of pennies and round everything to the nearest nickel.

 

 

[wiffleball 4,790]

They should just get rid of pennies and round everything to the nearest nickel.

 

 

It makes sense. It actually costs more to produce a penny than it is worth. There was a West Wing (not that it's a documentary, but they usually base their stuff in real-life debates) about this. It basically said that the reason we keep the penny is because Legislators from the state that makes copper - and now zinc - in pennies these days keep blocking attempts to get rid of it.

 

Would not surprise me at all. Anything THIS against logic must be political.

[IrishDrunk 0]

Why don't these focking things take pennies?

 

JFC - quit being poor. HTH

[wiffleball 4,790]

Not to hijack, but - Just read a good article in the WSJ debating the merits of keeping/losing the penny.

 

Bottom line, the 'experts' in favor of keeping the penny basically can only argue that losing the penny won't save that much. They don't have any strong arguments. Just some weak counter-arguments and sentimentality.

 

Those in favor point to this:

 

"the U.S. Mint is now losing about 0.75 cents on each penny it cranks out. Assuming that it continues the current pace of producing nine billion or so pennies a year, this would add up to an annual loss of about $67.5 million."

 

But, changing the metal content in pennies could change that.

 

 

There seems to be a "wash" in terms of whether consumers or retailers would lose money via "rounding". Ultimately, I'm sure retailers would adust their post-tax prices to 3,4,8 & 9 (so they could round up). So, ultimately, I'd imagine consumers would lose - but even in those cases - even on a macro-economic scale, not much.

 

The best counter to the "penny costs more to make than its worth" is pretty compelling; "It takes 7 cents to make a nickel. Do you want to round up to a dime too"?

 

All in all, I'd be fine with both.

 

http://online.wsj.com/public/article/SB116....html?mod=blogs

[frank 2,302]

There was a West Wing (not that it's a documentary, but they usually base their stuff in real-life debates) about this. It basically said that the reason we keep the penny is because Legislators from the state that makes copper - and now zinc - in pennies these days keep blocking attempts to get rid of it.

 

 

 

 

No, they said the guy from Illinois didn't want to get rid of the penny because it has Lincoln on it.