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Nothing is wrong with a penny, really the problem has been inflation. Like about a hundred years ago a penny had the same value as quarter today. Given a enough
by anfilt 7y ago
Nothing is wrong with a penny, really the problem has been inflation. Like about a hundred years ago a penny had the same value as quarter today. Given a enough time with constant inflation a dollar itself will be about like a penny today. Although, I’ll probably be dead before then assuming no sudden changes.
The dollar could be rebased in that time period to make the units still make sense. Like 100 “old dollars” equals one “new dollar”. Like we are talking 200-300 years from now to where a dollar that furture year is about the same value of a penny today. Again assuming no sudden inflation rate changes.
- beatgammit 7y agoSure, but until then, we should phase out useless coinage. I avoid cash largely because I have having a pocket full of coins. Eliminating the penny (and preferably the nickel and dime as well) would encourage me to use cash again.
- jakeogh 7y agoOr we could fix the root problem...