Save your pennies

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I agree with you about the disturbing trend of us loosing our personal freedoms. I just do not see pennies as being one of them.

I agree a cashless society would be horrible and a terrible violation of our privacy. Being tracked for every purchase. But I don't think eliminating pennies is the first step to going cashless.

In 1857 they stopped making the half cent, the world did not end.
There also were 2 cent pieces, half dimes,3 cent pieces, and 20 cent pieces. I don't know anybody that misses those
 
I'm guessing when the $2 bills stopped, and the Susan B. Anthony and Sacajawea dollar coins stopped- some folks went wild with worry. All I can see is some folks must have buyer's remorse by voting for DJT. Ah, to return to those golden yesteryears with Biden. He didn't try to make the government solvent. He spent trillions without worry, and he kept those cents in production. And btw, contender, for years the federal tax forms (and at least our state- I can't speak for other states) DO round down. .01- .49 rounds down to the whole dollar. .50- .99 rounds up to the next whole dollar. I personally don't see this issue as a beginning to a cashless society. DJT said that he was against doing away with currency. But obviously some here believe he was just telling a falsehood.
Two dollar bills are still in production (why,i don't know)
 
though about doing something like this in a utility room or hobby room or something

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"I very seldom see anyone paying with cash anymore, usually just older folks.."

There are restaurants in my little town that only accept cash. And when the fiber optic cable accidentally gets cut (every few months), nobody in town has internet service and the only way to buy anything anywhere is with cash. Stores use the internet to verify checks, so no internet, no checks.
 
One and two cent pieces were taken out of circulation in Australia maybe 20 years ago. We have 5 10 20 and fifty cent pieces. One and two dollar coins. Notes start at 5.
Cash is becoming less common but still has a strategic importance if there are internet outages and increasingly in these uncertain times the risk of cyber attacks on financial systems should never be ruled out.
Personally I think it is just crazy not to have some cash stored away for emergencies and I am doubtful we will ever lose it entirely.
 
Pennies are now made of zinc. Nickels are mostly copper.

If states with sales tax would standardize their rates at 5%, there really wouldn't be any need for pennies.
 
Is this the beginning of the end for cash? What's next? Nickles, dimes, quarters? Paper money?o_O

The Gov. wants a cashless America. Then they can track every cent of our income and outgo. No more cheating on sales tax, income tax or anything else. Look at how we have to pay sales tax on used items that takes have already been paid on. Gunbroker, ebay and about every other online sales venue. Won't be long and garage sale will be taxed and no cheating on your income taxes.
 
Worrying that the elimination of pennies is just a first step in the total elimination of cash is unnecessary alarmism. I was stationed in Germany, with the U.S. Army, from 1978-81. For most of that time pennies were no longer being used in U.S. facilities. Apparently people hoard pennies, and the cost of shipping heavy crates of pennies to our military locations was significant. So pennies disappeared, and prices at places like the PX and the Commissary all were rounded to the nearest nickle and EVERYONE was happy. With the production of pennies costing double their face value, stopping their manufacture makes total sense.

As to moving toward a cashless society, I am seeing a trend in the opposite direction. More and more places, especially restaurants, are now imposing a 4% surcharge for using a credit card because of the cost of accepting these cards by the vendor. And not just the restaurants. I recently needed to replace a home water heater, and was given an estimate on the assumption of a cash (i.e., personal check) payment. The invoice showed that paying by credit card would add 3% to the total.

I'm old, and maybe that's why I like to have cash in my wallet. If I drop below about $100 I will stop at an ATM to replenish my cash. The ATM machine usually has a charge of $2 or $3, but my bank reimburses me for those charges so it costs me nothing to draw out cash. And keeping several hundred in cash at home is a nice hedge against natural disasters where the power might be out and people selling things that I need will not be able to process a credit card purchase.
 
The Gov. wants a cashless America. Then they can track every cent of our income and outgo. No more cheating on sales tax, income tax or anything else. Look at how we have to pay sales tax on used items that takes have already been paid on. Gunbroker, ebay and about every other online sales venue. Won't be long and garage sale will be taxed and no cheating on your income taxes.

What we laughingly call 'money', whether it's coinage, paper, or 1's & 0's in a computer, is merely a convenient form of bartering for the commoners, and a tool the issuing authority uses to retain power and control over their citizens.

We did this to ourselves. We pleaded with the Gods of the Copy Book Headings to do it to us.


Selected excerpt:
In the Carboniferous Epoch we were promised abundance for all,
By robbing selected Peter to pay for collective Paul;
But, though we had plenty of money, there was nothing our money could buy,
And the Gods of the Copybook Headings said: "If you don't work you die."
 
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China has gone cashless, with phone apps being used to pay for everything.
The government controls the app.
Every transaction leaves a paper (electronic) trail.
Unfortunately, every transaction is permanently logged to your identity.
This type of monitoring we don't need.
The Chinese elite are heavy into gold. Corrupt Chinese government official's are sometimes caught with large stashes of gold.

Yep. Garage sale....you better report that $238 to the IRS. Lemonade stand.....$37, same thing.

A digital dollar will mean the end of freedom
 
When I was in the Army stationed in Germany in the early 80's there were no pennies at the PX. Everything was rounded up or down to the nearest nickel.
 
I see folks referring to Germany & other Countries where they do not use pennies.

Let's switch items for a moment.

Those very same Countries do not have a Constitution.
Those countries are run by a totally different type of government.
Those Countries have severe restrictions on gun ownership.

So those who tout "other Countries" I have to ask. Do you want America to be just like other countries? What other freedoms are you willing to give up?

Yes,, long, long ago,, we had 1/2 cent pieces,,, 2-cent pieces, 3-cent pieces. Goods that were to be sold cost a lot less back then. As the cost of goods surpassed the needs for those denominations,, they were discontinued.

And while many may not see them or use them,, most often,, when I go into a bank,, the teller's have a coin tray,, and I see 1/2 dollar, & $1 coins there available to be received if requested.
 
I forgot something.

I ALWAYS stoop to pick up pennies & other small change on the ground. I use a metal detector to find coins & other stuff.

But I will firmly state that I picked up a Penny once,, and it's been the best, most expensive,, but WELL WORTH it Penny I've ever found.
My wonderful better half,, Miss Penny! :D :D
 
How about private transactions for a firearm? Or anything else (a yard sale for example)? You really want to use plastic for that, with automatic attendant taxes at the very least?
Good point, However I can't remember making a private purchase with anything less than a dollar bill.
OTOH...my wife just reminded me of the huge Quartzsite swap meet that we just spent 5 days at. She said there were some items for less than a dollar. I don't remember that but I'm sure there was.
 
This thread is hitting all around the real problem at hand, but missing the bullseye completely....namely...the reason that our coins have been turned into junk metal by TPTB is that the fractions of our fake dollar they represent are based on whatever the buying power of that (fake) dollar happens to be....In other words, our so called "dollar" is not a dollar at all. It is simply a debt note, nothing more...hence the term federal reserve note, "note" being a legal term that implies debt....It's not a big secret that the buying power of our Federal Reserve Note (FRN) presently sits at less than 3% of what it was when first introduced some 120 years ago, so naturally the buying power of any given fraction of "one note" has dropped like a rock also. Back in the 60's they took the silver out of our coins. In the early 80's they replaced the copper in our pennies with zinc. Follow that course of action along and it brings you to where we are now....trillions in debt and not a single real dollar to pay on it...not even one real (silver) dime....So yeah, anyone can see that it's presently taking more FRN's to produce an X-amount of our so-called "cents", but here's the catch: ....It ain't going to matter whether we quit making pennies or not, or dimes, or quarters because the real problem at hand is that the FRN is failing at an alarming rate...THAT is what needs fixed, and we better hurry up doing it.

DGW
 
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