Yet Another Reason to Hate the Penny?

Readers of this blog may recall Dubner’s crusade against the penny due to opportunity cost as well as the high actual cost of producing pennies. Now Slate takes a look at another currency question: is cash or credit more environmentally friendly? The article doesn’t manage to answer the question, but it does point out the […]

Now This Would Have Been a Nice Federal Budget Cut

I have nothing against Abraham Lincoln -- quite admire him, in fact -- but I do think the penny has long, long, long outlived its usefulness.

I have said this time and again and, having been woefully ineffective in bringing about its end, vowed to shut up about it.

Pennies: Enough Already!

Photo: Odalaigh Whenever I travel in other wealthy countries, I am a bit embarrassed about the dollar bill’s insignificance compared to other countries’ smallest bills: a 5-pound note is worth $9; a 5-euro note is worth $7; a 1,000-yen note is worth $9. At the same time, no rich country has a coin as worthless […]

Who Cares About Pennies When There’s Candy?

In Argentina, buying a pack of gum can throw you into a standoff with the cashier, who, due to the country’s coin shortage, often lacks the correct change. Facing similar problems, nearby Paraguay has adopted a socially acceptable solution for vendors: when you don’t have change or need to round up, candy is acceptable currency. […]

And While You’re at It, Toss the Nickel

Producing a penny costs about 1.7 cents, and the Treasury’s annual penny deficit is about $50 million, according to a New Yorker article by David Owen. Yet folks — and some companies — still want the penny around, in part because they fear merchants rounding up prices and increased reliance on the even more expensive […]

The FREAK-est Links

Treasury Secretary in favor of axing the penny. (Earlier) Free books online: the debate continues. (Earlier) Are lawsuits the next phase in the fight against global warming? (Earlier) Reducing class sizes isn’t enough to fight achievement gap.

A Penny for Your Thoughts? What an Insult!

As of this writing, the CBS News program 60 Minutes is scheduled to run a segment on Sun., Feb. 10 (7 p.m. EST), on the fate of the penny: should it be abolished or not? I was interviewed on the subject, so if the piece isn’t preempted and if I don’t end up on the […]

What Do You Do With Your Pennies?

The Great Penny Debate continues to limp along. One hundred million pennies, collected by schoolchildren, were put on display at Rockefeller Center. Meanwhile, lots of people continue to argue for elimination of the penny. I am firmly on the abolitionists’ side, as stated previously here and here. The only reasons I can think of for […]

Note to Self: Stop Throwing Out Pennies

Whenever I get change for a dollar, I ask the cashier to keep the pennies. They aren’t worth my time, or hers, or yours. Sometimes the cashier refuses for bookkeeping purposes, in which case I politely accept the pennies and then throw them in the nearest trash can. (Is this illegal? Maybe so, but then […]