Penny pinching: Can Obama kill the one-cent coin?

[fhdz]

A dime isn't printed on a dime though. It's just what everyone calls a 10 cent coin.

It is; the back of each dime says "ONE DIME".

[garbon]

Though back to what you were saying, presumably if Alfred uses his 20 at a place that doesn't take card, he's going to get ones back right? What would be more useful to him, put those couple of ones back in his compact wallet or in a change jar at home?

Also to follow-up. I have a wallet that is actually pretty slim (Big Skinny) and it is much easier for me to carry the 15 ones that I got back as change throughout the course of a night (as I had only had 20s) then it would be to have all $15 sitting as coins in my pocket or sitting at home in a change jar collecting dust.

[Malthus]

I think grumbler is splitting a hair that you didn't intend then.

Though back to what you were saying, presumably if Alfred uses his 20 at a place that doesn't take card, he's going to get ones back right? What would be more useful to him, put those couple of ones back in his compact wallet or in a change jar at home?

He's going to get change in the form of coins if he uses his emergency stash no matter what. All that happens if he hates the very thought of carrying coins, is that the sizes of his tips increase. 

[viper37]

What does use mean here? Inevitably if I pay for something in cash, I'm going to get some pennies and every so often if I haven't cleared out my bag, might use one.

It means 63% of Canadians either pay with credit/debit card or with bills without using coins, wich would go straight to your little piggie bank until there's enough to fill a roll.

[garbon]

He's going to get change in the form of coins if he uses his emergency stash no matter what. All that happens if he hates the very thought of carrying coins, is that the sizes of his tips increase. 

Why should he want the size of his tips to increase?

[viper37]

While I can understand that for government costs - why would individuals want to support that? More annoying to carry dollar coins than bills.

Offer the choice: a tax hike or dollar coins

Same as the above. Might help someone save costs but why would individuals trained on English measurements want to learn the metric system as a daily replacement?

Oh, they won't.  They will resist, complain, bitch and moan for the next 50 years.  But eventualy, people will look back and wonder why we ever used such an antiquated system.

There was quite a lot of opposition in Canada.  Eventually, the law came and... people adjusted.  So long as we have quarter pounders in McD, everything's ok

[Malthus]

A dime isn't printed on a dime though. It's just what everyone calls a 10 cent coin.

It is; the back of each dime says "ONE DIME".

Heh, my mistake. The Canadian one just says "10 cents".

Does your 5 cent piece say "one nickel" on it?

[fhdz]

Heh, my mistake. The Canadian one just says "10 cents".

Does your 5 cent piece say "one nickel" on it?

Oddly, that one says "FIVE CENTS".

[viper37]

I'm with you on the penny, but not the rest. I don't carry coins; and I don't have a wallet to accomodate them. Bills are much easier. I'm willing to pay in taxes the extra $2.00 or whatever my share is to keep the dollar bill.

The question is why do you carry cash?  And why small bills?  I have my cards, I have a few 20$ bills from the ATM, but that's all.
I'm not gonna carry 100$ on me in 1$ dollar coins.  Never did that with bills in the past.

In some cases they even have advantages over metric.

Please, make a list?

[garbon]

Offer the choice: a tax hike or dollar coins

The government should coerce us into a not demonstrably better system so it can save money?

Oh, they won't.  They will resist, complain, bitch and moan for the next 50 years.  But eventualy, people will look back and wonder why we ever used such an antiquated system.

There was quite a lot of opposition in Canada.  Eventually, the law came and... people adjusted.  So long as we have quarter pounders in McD, everything's ok

Same story as above but even more so given that there would be a large cost expenditure in order to switch both private and governmental.

[garbon]

The question is why do you carry cash?  And why small bills?  I have my cards, I have a few 20$ bills from the ATM, but that's all.
I'm not gonna carry 100$ on me in 1$ dollar coins.  Never did that with bills in the past.

Continue reading the thread, he said why he ends up with cash on him.

[alfred russel]

Though back to what you were saying, presumably if Alfred uses his 20 at a place that doesn't take card, he's going to get ones back right? What would be more useful to him, put those couple of ones back in his compact wallet or in a change jar at home?

This is basically it...In the US the majority of my cash use is probably to tip people or pay tolls (and I keep change in my car for that). If I give a $10 to a valet for a $2 tip, I might get back 8 $1 bills, which is much more convenient than 8 $1 coins.

When I am in places that use coins more frequently, I just leave the coins loose in my pocket.

It isn't that big of a deal one way or the other, but all else being equal I'd rather not deal with cash at all, and in those instances I need to, I'd rather stick with paper.

[Admiral Yi]

Please, make a list?

The one obvious advantage is that 12 has more factors than 10 does.

Is that the right word, factors?  Been a while.  Or is it divisors?

[Malthus]

The government should coerce us into a not demonstrably better system so it can save money?

There is this, for what it's worth - other countries have made the change to (a) having equivalent to dollar coins; and (b) getting rid of equivalent to pennies.

I've never heard anyone from these other countries ever remark 'you know, that was a mistake. We need to being back small denomination bills and coins'.

Maybe some do, but the overwhelming consensus of those who have actually used both systems on a daily basis for themselves is that eliminating small bills and coins is preferable. As well as, of course, being cheaper in the form of saving tax dollars.

Now, we all know Americans are special, and so cannot learn from other's experience as it has zero validity for them, but insofar as these things can be "demonstrated" ...

[Malthus]

Please, make a list?

The one obvious advantage is that 12 has more factors than 10 does.

Is that the right word, factors?  Been a while.  Or is it divisors?

This is somewhat useful if you are doing carpentry by hand.