Perfect Sense. .. You know what doesn't make perfect sense? it costs 2 cents to make a penny. perfect sense cents


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User avatar #3 - unclebourbon (05/05/2013) [-]
You know what doesn't make perfect sense?

it costs 2 cents to make a penny.
#42 to #3 - anon (05/05/2013) [-]
I don't think the 2 billion pennies made makes much difference when you factor in that it costs 8 to 12 cents to make a $100 bill.
User avatar #56 to #42 - badhatharry (05/05/2013) [-]
But consider how many of those pennies just sit around and never get used... It's not a huge issue to the economy but I'm sure it could help keep booms up for a little longer
User avatar #96 to #3 - conordalymcr (05/05/2013) [-]
It's 1.6c to make 1c, which is why Ireland is considering not manufacturing them anymore
#4 to #3 - SimianLich (05/05/2013) [-]
actually its dropped to 1.6 cents per penny. But thats still bad.
User avatar #12 to #4 - pixar (05/05/2013) [-]
we stopped penny manufacturing in Canada..
User avatar #7 - metarzan (05/05/2013) [-]
Canada- " NOT ANYMORE "
User avatar #18 to #7 - dragostarc (05/05/2013) [-]
There's still places near where I live where they still distribute pennies as change. I'm not sure if it's on purpose, but I'm not sure if they're allowed to
User avatar #28 to #18 - thetrobadour (05/05/2013) [-]
they stopped making pennies but you can still use them
#46 to #7 - hauntzor (05/05/2013) [-]
Why did I read that in Billy Mays's voice?
#121 to #1 - kiermatv (05/05/2013) [-]
didn't know when I was gonna use this
didn't know when I was gonna use this
#35 to #1 - igenatius (05/05/2013) [-]
Comment Picture
#10 - pappathethird (05/05/2013) [-]
op's fw
#70 - demandsgayversion (05/05/2013) [-]
This image has expired
This doesn't make any cents
#13 - EmulateSnes (05/05/2013) [-]
It costs more than a penny to make a penny.
#14 to #13 - baconfattie (05/05/2013) [-]
With such a mass production .... I wouldn't be so sure..
#17 to #15 - baconfattie (05/05/2013) [-]
Hahaha, ok thanks mate.

But normally in market and production the cost of mass produced things is super low. But I guess if you get something that has such a low value as a cent... it's impossible.

Thanks for enlightening me.
User avatar #20 to #17 - thatscrewedupkid (05/05/2013) [-]
and thats why we are getting rid of it
#21 to #20 - justtocomment (05/05/2013) [-]
How do you suppose we do that? Convince all the customers they have to pay the next nickle-value up for goods? Or tell all the businesses that they have to charge the next nickle-value down for goods?
The price it take to make a penny is greater than the worth of the penny, HOWEVER the price of production of a penny is still less than the money for producing other coins. For example, let's say it take 5 cents to make a penny. The penny being worth 1 cent leaves us at a loss of 4 cents. Then it takes 3 cents to make a nickle, leaving us with a gain of 2 cents, and a total between the two a loss of 2 cents. If a dime take 5 cents to make, we're left with 3 cent gain, and moreover once the cost of quarters is taken into account.
And seriously, there's no good way to get rid of the penny until our dollar is inflated to the extent of the Nigerian dollar.
User avatar #24 to #21 - JklnHyd (05/05/2013) [-]
Actually, that's exactly how it would work. Final purchase cost after tax would be rounded up or down to the nearest five cents. Pennies already in circulation would still be legal tender, but no more would be produced. They would be gradually phased out. The raising and lowering of costs to the nearest nickel would average out to an insignificant gain or loss for consumers.
#128 to #24 - justtocomment (05/06/2013) [-]
Say I go to the store and I need eggs and bread. My eggs cost 2.01, and my bread costs 2.02 . If I buy them together, I come out to 4.03 so I have to round up 2 cents. But if I buy them separately, I have to +4 cents for the eggs, and +3 cents for the bread. That leaves me paying 7 cents more.
So you want everyone to agree to pay up to OVER a nickle more for certain goods if they buy it a certain way? Getting rid of the penny is not a feasible plan, and it really isn't necessary. Like I explained before, the value of other coins against how much said coins are worth more than compensates for the cost of the penny.
User avatar #129 to #128 - JklnHyd (05/06/2013) [-]
No. Those would have both rounded down individually, or up if you bought them together. Separately, you save 3 cents. Together, you pay an extra 2 cents. That is the most that can be gained or lost. Rounding goes to the NEAREST interval, be that higher or lower.
#130 to #129 - justtocomment (05/06/2013) [-]
But see, that's a convoluted process that ends up screwing everyone in the end. Think of it from the business's standpoint. They could lose several cents on every transaction, but then have to pay extra cents to the supplier as the customer in the industry.
User avatar #131 to #130 - JklnHyd (05/06/2013) [-]
Canada did it, and they seem to be doing just fine. The transactions that round up cancel out those that round down. Over the large number of transactions that people and especially businesses make in the course of a year, it averages out to gains and losses not substantially different from rounding to the nearest cent. You say everybody loses, but that is not the case. Every time you lose those two cents, that would probably just end up in the couch anyway, the seller gains them. Every equally probably time the seller loses those two cents, you gain them back. That's how averages work.
User avatar #22 to #21 - thatscrewedupkid (05/05/2013) [-]
im not a scientist, im not the secretary of the treasury. i just know that we are in the process of eliminating it.
#23 to #22 - justtocomment (05/05/2013) [-]
No, we're currently open up to the idea of getting rid of the penny. There isn't a plan in action yet, we haven't even decided if we will. It's kinda like when a bunch of stoners finally all agree they want taco bell, but none of them have gotten up since that point.
User avatar #27 to #13 - imcoolashell (05/05/2013) [-]
BUTTTTT it costs less than $100 for a hundred dollar bill, less than $50 for fifty dollar bill, less than 20 for 20 dollar bills, less than 10, less than 5, less than 1, etc.
User avatar #101 to #27 - failtolawl (05/05/2013) [-]
less than 1 dollar to make a hundred dollar.
User avatar #37 to #27 - appleboom (05/05/2013) [-]
actually that's not true for the 1 dollar bill
#90 - mudkipfucker (05/05/2013) [-]
This image has expired
But can it make this?
User avatar #122 to #119 - mudkipfucker (05/05/2013) [-]
and it only cost 88p ($1.37) (€1.04)
#2 - scooba (05/05/2013) [-]
Comment Picture
#82 - heroicvenom (05/05/2013) [-]
thanks for the new reaction, can't wait to use it
User avatar #92 to #77 - cormy (05/05/2013) [-]
Reposting within the same comment page?
You really are a scumbagposter
#97 to #92 - scumbagposter (05/05/2013) [-]
Sorry, i may have not seen it, my bad but......<
Sorry, i may have not seen it, my bad but......<
#123 - kiermatv (05/05/2013) [-]
And to flush this out
(Might want to expand)
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