It would come down to rounding it up or down, in the IRS case up a nickle and then no problem.
Money Matters - Part 9
They should eliminate pennies. They are a nuisance. And I would prefer dollar coins. Dollar bills do not last long in circulation.
lol "a penny for my thoughts?" lol But who wants to hear them!?!!
Looking 4 A Job ~ what kind?
People resist the use of dollar coins. My MIL keeps giving them to my kids but they're still an oddity in the store (the coins...not my kids !) It would have to be forced. Well, the government has no trouble forcing people to do a lot of other things!
Pennies only usefulness is in paying taxes! I bet the dollar stores hated our governor when he took the sales tax from 5 percent to 6 percent, forcing them to keep lots of pennies on hand.
schickenlady, the day before you posted about the penny worth $325, I had found another "lucky penny" . I've always stopped to pick up a fallen cent and keep them in a special place, not too proud even in prosperous times to "penny saved penny earned" it. So, as I read your post and looked at the pics I couldn't wait to get my latest penny out and, like a kid I just knew that the one I had picked up off the parking lot was a 1984 double ear Lincoln cent. And sure enough, it was! At least the 1984 part, but I can't find my magnifying glass to be able to tell for certain about the double stamping but it looks like it is, but pretty worn.
And who knows, maybe penny loafers will come back!
Canada uses one and two dollar coins very cool.
Quote from victorgardener :
Canada uses one and two dollar coins very cool.
That'll really jingle in the pocket! I'd love to get a feel of a plastic bill, too.
coleup- good luck with that penny. I'm afraid condition will make a difference in the real collector value.
I always used to pick pennies up. Recently I have felt too 'icky' about what else is on the ground with them. I prefer to dig in my own nice organic dirt lol. I do have my old penny collection from when I was a kid.
This message was edited Dec 11, 2011 6:51 PM
A couple of stingy old guys I know think they are clever to use one of those cheap looking gold dollar coins to tip waitresses. Only one dollar ~ how cheap is that?
I dislike the gold dollar coins ... they remind me of those chocolate candy coins that were covered in gold foil. http://www.oldtimecandy.com/chocolate-gold-coins-pegbag.htm
Looks like all the one- Euro coins are two-color. I like them. And the smaller ones, in Italy at least, had the cents # on them. Our coins say it in words but not in number (one cent, not 1 )
If you buy a DC metro ticket, your change will be in gold dollar coins.
Read that many banks no longer offer coin counting for either wrapped or loose coins. Instead most coins are shipped to the Fed for counting.
How about the house that burned down while the Fire Dept stood by because the owners hadn't paid the $75 fee for fire service in their town. The family lost everything .
Market was up Fri on Euro news. Down today on Euro news.
As the late Senator Edward Dirksen put it so well: A billion here, a billion there, and pretty soon you're talking about real money.
Only now it's trillion - sadly.
If they get rid of the penny they will probably up our sales tax...which I don't like that idea
we're at 7% so when I go to the dollar store it costs me $1.07 per item...I need those 2 pennies plus a nickel(and a dollar of course) to pay for my item
My dollar store is charging $1.29 for everything.
I looked at my Ameriprise Statement. I am up $600 from last year this time. Ameriprise made a whole lot more money on my money than I did. Well - at least someone is making money in the stock market.
From the Washington Post:
Wonkbook: The real unemployment rate is 11 percent
By Ezra Klein, Monday, December 12, 7:51 AM
Typically, I try to tie the beginning of Wonkbook to the news. But today, the most important sentence isn't a report on something that just happened, but a fresh look at something that's been happening for the last three years. In particular, it's this sentence by the Financial Times' Ed Luce, who writes, "According to government statistics, if the same number of people were seeking work today as in 2007, the jobless rate would be 11 percent."
View Photo Gallery: Photocasting across America with Michael S. Williamson: A Washington Post photojournalist has spent the year traveling around the country, meeting people whose lives have been altered by the flattened economy.
Remember that the unemployment rate is not "how many people don't have jobs?", but "how many people don't have jobs and are actively looking for them?" Let's say you've been looking fruitlessly for five months and realize you've exhausted every job listing in your area. Discouraged, you stop looking, at least for the moment. According to the government, you're no longer unemployed. Congratulations?
Since 2007, the percent of the population that either has a job or is actively looking for one has fallen from 62.7 percent to 58.5 percent. That's millions of workers leaving the workforce, and it's not because they've become sick or old or infirm. It's because they can't find a job, and so they've stopped trying. That's where Luce's calculation comes from. If 62.7 percent of the country was still counted as in the workforce, unemployment would be 11 percent. In that sense, the real unemployment rate -- the apples-to-apples unemployment rate -- is probably 11 percent. And the real un- and underemployed rate -- the so-called "U6" -- is near 20 percent.
There were some celebrations when the unemployment rate dropped last month. But much of that drop was people leaving the labor force. The surprising truth is that when the labor market really recovers, the unemployment rate will actually rise, albeit only temporarily, as discouraged workers start searching for jobs again.
Has someone already posted this clip on the penny? If so, I apologize. I thought it was very interesting: http://www.youtube.com/watch?v=y5UT04p5f7U
From the clip:
We make 4 million pennies a year even though it costs the US Mint 1.8 cents to make each penny.
$20 worth of pennies weights 11 pounds!
New Zealand, Austrailia, Finland and the Netherlands all got rid of their 1 cent (or equivalent) coins.
US Military bases overseas round everything up to the nearest 5c so they don't have to use pennies.
Is anything more ridiculous than gasoline prices shown as 9/10ths of a cent?!!
And where did that begin? We were just discussing it yesterday. It initiated with the gas tax but the gas tax has exceeded its' tenth one hundred times over.
Why in they devil don't they round it up and just forget it.
Either way it doesn't make me feel any better to pay one tenth of a stinking penny less per gallon.
Holy crap. Get a ticket to Norway and bring a cooler of butter!
http://www.timeslive.co.za/world/2011/12/12/norway-butter-shortage-threatens-christmas-treats
Why can't they just churn their own?
http://www.43things.com/entries/view/4198244
Scroll down to bottom. The world wants to.. get a job
The dollar store in Danbury, CT is charging $ 1.49 for everything now. Grump.
Sally, I don't see "get a job" on that list maybe they update it frequently
They need to change the name of the store
sorry Jen, yes i, I guess they do update it frequently; by the time I looked just now, the top item was take a road trip, followed closely by get out of debt and lose 20 pounds...
Here is a little fitness routine to stay in shape for what ever comes our way.
Begin by standing on a comfortable surface, where you have plenty of room at each side.
With a 5-lb potato bag in each hand, extend your arms straight out from your sides and hold them there as long as you can. Try to reach a full minute, and then relax.
Each day you'll find that you can hold this position for just a bit longer. After a couple of weeks, move up to 10-lb potato bags.
Then try 50-lb potato bags and then eventually try to get to where you can lift a 100-lb potato bag in each hand and hold your arms straight for more than a full minute. (I'm at this level.)
After you feel confident at that level, put a potato in each bag.
rotfl
Hee hee!
Thanks, I needed that genuine laugh today, esp. after the "you gotta be kidding" laugh when reading about the Fed. Reserve today.
The Federal Reserve said Tuesday that it will take no new steps to boost economic growth this year, citing mounting evidence that the American economy is chugging slowly toward good health.
~ NYTimes.com News Alert"
Yes- we may just turn out fine in three generations.
I have posted about this before. Crazy. So many young people could be learning these skills.
http://www.ft.com/cms/s/0/6d586922-21f0-11e1-8b93-00144feabdc0.html#axzz1gShko4vV
Wow - keeps getting better!
http://www.cnbc.com/id/45659547
So we cannot compete with advanced skills like math and science, and now even with blue collar skills. Great education system we have. We spend way more than anyone and this is what we get.
Report out of GAO
FEDERAL RESERVE SYSTEM Opportunities Exist to Strengthen Policies and Processes for Managing Emergency Assistance
Seems "quantitative easing" hand has been played at home and in Europe and whatever Fed has left in bag of tricks is being played close to the vest. No rewards for holding cash from Fed still not enough to get the 3 Trillion sitting on the sidelines into play...
The game of Monopoly only ends when someone wins or all but one stop playing or your new puppy runs across the board.
Update on potato bag exercise...more bags than people to hold them and potatoes are on their way!
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