Good point
Good point
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)
You are currently inside a comment thread.
Click here to see all the comments (9).