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the U.S should end the use of the penny
Merchants
With
Uncommon
Cents
U.S. To End Penny Circulation October 1st, 2015
Chicago Gazette Times, October 25, 2014

effects of taking the penny out of circulation [Washington, D.C.] Bowing to growing public pressure and the gradual but dramatic adoption of the popular grass roots PennyFreeBiz movement by so many merchants and retailers, the ubiquitous Penny will cease to be circulated by the U.S.Mint on October 1st 2015.

As in other currency changes in the past, the government will require all pennies to be turned into banks for exchange to other currency and on October 1st 2015. It is anticipated that due to both coin exchanges and the actions of coin collectors, it is very likely there will not be a penny to be had anywhere except through coin dealers ... yada yada yada ... This is a bogus newspaper article ... so far!

 

News Update.. Canada has followed Australia, New Zealand, Norway, Switzerland, United Kingdom and many others. They have discontinued the use of their penny... The United States has to be next .. Right? (MORE 1, 2) February 2013
 
Coming to the end of an era...

PennyFreeBiz.com© is a grassroots effort for retailers and merchants all over the US to, at the very least, stop the using pennies in their businesses. No pennies in their cash draw!

The one cent coin (aka the Penny) made sense for more than two hundred years, but we believe, no longer. Depending on costs of raw metal, smelting, forming (including blanking, annealing, upsetting, sriking and inspecting) then counting, bagging and distributing the penny, it can cost our US Mint somewhere between 1.50¢ to perhaps as much as 2.75¢ to make each penny. Heck, perhaps even double that. System wide cost for merchants to account for each penny is absurdly expensive ... far more than the penny is worth us merchants. Next, add in the new global warming issues of carbon footprint to mine, smelter and manufacture the penny and .. AND .. then finally, add in the fact that roughly half of all minted pennies are in jars, drawers, piggy banks and the like. This means the government is minting 2 pennies (~ .05¢) to keep 1¢ in circulation. Maybe you will arrive at the same point we are at on this website.

We believe it is time to end the arguably senseless use of this soon to be obsolete coin. Since the government can't seem to legislate the removal of pennies from circulation, it is time that retailers and merchants take up the challenge and start the process of weaning our economy of at least this coin. Members, may at their discretion, take this further to remove nickels, dimes, quarters and perhaps the half dollar coins. There are retailers out there who have no coins in their change drawer at all, their smallest change denomination is the dollar.

Members of PennyFreeBiz.com can be merchants, retailers, hotels, restaurants, point of sale software companies and others. Members pledge to ...

  • remove, at the very minimum, pennies from their cash drawer(s)
  • round all cash transaction totals (after tax) to a denomination other than penny (example: nickel)
  • not give any pennies as change.
In the instance of a penny, cash transaction totals (after tax) ending with ".x1" or ".x2" will be rounded down to ".x0" and all the rest will be rounded up to ".x5". Accepting pennies in trade as payment is optional and up to the individual merchant member.

Rounding Examples:
  Purchase Total (before rounding) Penny Economy Nickel Economy
  Purchase #1: $38.2235   rounded to $38.22   rounded to $38.20  
  Purchase #2: $121.2415   rounded to $121.24   rounded to $121.25  
  Purchase #3: $64.3892   rounded to $64.39   rounded to $64.40  
  Purchase #4: $4.7274   rounded to $4.73   rounded to $4.75  
  Purchase #5: $47.2241   rounded to $47.22   rounded to $47.20  
  Total cost of all 5 .. $275.80   $275.80  

Come on folks.. this just does not make any cents. If our friends in Canada, Australia and a dozen other countries can stop the use of their pennies, why can't we?

Please support those merchants and retailers that have taken this action. Look who has joined the movement.

 
Penny History

The penny has been around since 1787. It was the fruit of the efforts of Benjamin Franklin and Thomas Jefferson in their strong desire to produce a stable currency for this fledgling nation. Since its first minting by a private mint and, 5 years later in 1792, by the newly formed US Mint, over 300 billion have been minted in more than 10 different designs over the past 227 years.

The penny was first minted out of 100% pure copper. It's metal composition changed in the mid 1800s to 88% copper and 12% nickel and again after other changes that included the use of bronze and tin, to ultimately today's, 2008's, composition of 97.5% percent zinc and 2.5% percent copper.

> > > more history

What's Your Opinion?
Should we get rid of the penny?
Current # Votes: 13826
Yes: 49% - No: 51%
What's your vote?
 Yes, get rid of the penny!
 No, keep the penny!

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