Should the "penny" be eliminated??

[Alan Mendelson]

This question and debate comes up every year or so: should the one cent coin, the penny, be eliminated?

Many note that the penny is becoming less "valuable" because of inflation. Many consumers don't spend them but stash them away in penny jars -- never to see daylight again.

Critics of the idea of eliminating the penny fear the impact of inflation. Well, in reality, there isn't much inflation if the price of something cost $9.98 is rounded up to $10.00.

This discussion came up on another discussion forum, and here is what I wrote:

"I think eliminating the one cent coin would be "penny wise and votes foolish."

What politician would want to be the guy that is blamed for prices being rounded up to the next nickel??"

[EltonCurtis]

Pennies have been a topic of debate for some time. A fair number of people have been agitating to have pennies banned. Read more at: Common coin causes controversy

[Alan Mendelson]

Thank you for posting Elton but your link is to a website for payday loans and other forms of personal loans. I don't see anything related to a discussion about the discontinuation of the penny or cent.

We don't mind if you posted information about your company and how it works -- even your loan rates and why consumers should consider your company for short term loans -- but it appears you just tried to spam us.

If you want to come clean and tell us about your business, we'd appreciate it. Your industry has been under attack for having high interest rates that suck consumers into a debt spiral and if you would like to comment about that we'd certainly be interested in your response.