As a consumer, I have the right to fantasize.
Penny for your thoughts? Got a wooden nickel?
Oh geez, gas will now be $3.90, $4.00, $4.10, $4.20.... fuel prices will falsely sky rocket... as will everything else. It's hitting me now. We'll be broke in six months. At least we'll have obamacare.
They can still price it in impossibly precise prices. When was the last time you used a 0.9¢ coin?
The last coin we got rid of was the half cent in 1857. 0.5¢ back then is worth about 11¢ now, so dumping it would be equivalent to dumping the penney, nickel and dime today and just going directly to the quarter.
My suggestion:
1. Dump the penny. It is worth 5 seconds of labor at minimum wage and therefore is just about worthless.
2. Keep the nickel for now because without it you would have to dump the quarter too and just go dime-half-dollar for the coins.
3. Replace the dollar bill with a coin.
4. Consider the next coin, maybe $2. You should be able to buy a cheap lunch for a couple coins.
no it will be rounded UP to the nearest dollar to avoid coins alltougether. This is just a sales tax. The rounding up part becomes a sales tax TAKEN by the government for “the collective good.”