[speedgibson] Speed Gibson: Treasury Secretary: No More Pennies

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Posted by Speed Gibson:
Treasury Secretary: No More Pennies
http://speedgibson.powerblogs.com/posts/1204427734.shtml


   This is a pet peeve of mine, that the penny should have been phased
   out at least ten years ago. I work for a retailer, and even suggested
   a "we lost our cents!" campaign by pricing such that sales tax works
   out to exact dollar amounts.
   A penny wasn't much even in 1950's when I first recall handling money.
   You needed a nickel to buy anything worthwhile, a dime for a comic
   book. Frankly, you could argue that the nickel should be now be
   dropped, too.
   And while we're at it, old George (paper) should be replaced by the
   new new George (coin).
   But let's start with the pennies. It may take care of itself when
   enterprising scrappers melt them all down for a profit.