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Economically, maintaining pennies in circulation makes no sense - what can you even buy for $0.01 nowadays? Cannuckistan did away with theirs years ago too. But fundamentally I take issue with it. If you go back 170 or 200 years, a penny was a more sizeable coin - larger than today's quarter even. Imagine the purchasing power of a penny then - a far cry from the worth of the modern copper foil covered zinc slugs that get handed off as change today.

Overinflated fiat currency begats worthless everything.

Archive (archive.ph)

Economically, maintaining pennies in circulation makes no sense - what can you even buy for $0.01 nowadays? Cannuckistan did away with theirs years ago too. But fundamentally I take issue with it. If you go back 170 or 200 years, a penny was a more sizeable coin - larger than today's quarter even. Imagine the purchasing power of a penny then - a far cry from the worth of the modern copper foil covered zinc slugs that get handed off as change today. Overinflated fiat currency begats worthless everything. [Archive](https://archive.ph/Kan1A)
[–] 0 pt

I was addressing Poal in general, as I often do, so I did not include your username to address you directly. Anyway..

The cost of the penny versus its utility is a poor argument when the government wastes so much more money on completely intangible things every day. A penny has a cost associated with it, but it is also a tangible good that can last a long time. An endowment for some shitty (((art))) or a grant for a study to determine if it is hotter outside when the sun is shining versus at night when the sun isn't shining, well you can see the problem here. If we redirect that wasted money to making peenies instead, we'd have our peenies well covered. The argument is a strawman used to push for removal of coinage and eventually physical currency.

I do not look forward to the notion of free money to (((corporations))) by having the nickel become our smallest denomination of money. That would result in a one to four cent price rise in most everything we buy. Prices would round up to the nearest 5 cent mark rather than down because fuck the greedy jews. It will only get worse if we get rid of other coins as well. Four cents over thousands of transactions is not an insignificant amount of money. We don't need more going out than we already have. The penny needs to stay to keep that in check.

If we give up the penny, we can never get it back. I'd rather not lose the option even if some people think it serves no purpose. The penny is a coal mine canary and we need it to stick around to know when we're being taken to the (((economic future))). The penny is valuable beyond its face value.