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Does it make sense that it costs 1.3 cents to make a penny?
It also costs 7.7 cents to make a nickel.
How is it that that makes good business sense and shouldn't we try to eliminate pennies?
What would happen if we did eliminate them?
9 Answers
- ?Lv 61 decade agoFavorite Answer
What. Thankgoodness they don't tell me that when I purchase items. That doesn't make any type of good sense. Nope I don't think we should eliminate them. They take a hell of alot of time to count. They're the only coins you see on the ground when you need money.
- Anonymous1 decade ago
It certainly doesn't make sense. Very little in the financial world does. In Britain up until the seventies we had what we now call "Old Money" with 240 pennies to the pound. We now have 100 Pennies to the pound, which for years we called "New Money" the decimal system is far easier than the old system we had, although people thought that they were being done.
The USA cent is worth so little, getting rid of it would be a good thing. But what do you replace it with, a two cent coin that costs three cents to make? I'm amazed that a Nickel costs 7.7 cents.
Whatever is changed people will say they are being done, Robbed, conspired against.
What can you buy for a Cent, Nothing probably. The trouble is everything ends in 99, so you need the cent to give change. Maybe part of the answer is everything should be sold to the nearest 5 or 10 Cents.
- 1 decade ago
Yes it makes sense (no pun intended), concidering copper is becoming less and less plentiful as time goes by. The government is considering to stop making pennies out of copper, because they have noticed this too, obviously.
- Hedge WitchLv 71 decade ago
No idea how pennies fit into your monetary system really - but regarding the price of them - don't forget they are used many, many times so it is not actually costing more than it is worth.
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- 1 decade ago
It would be good sense to do so, but unfortantaly the goverment are filled with polticians and buerocrats who are not good at business
- MagsLv 41 decade ago
I don't thin kit makes sense.
If we eliminated them i think we'd always have to round off our numbers.