Retiring the Penny
Final Destination for Penny     There they are!      ↓↓
Final Destination for Pennyronmartina.com, n.d.
Final Destination for Pennyronmartina.com, n.d.   techory.com, n.d.
Retiring the Penny … Why?   Using pennies is a waste of time
Retiring the Penny … Why?   Using pennies is a waste of time   Producing pennies is a waste of money
Should the Penny be retired?          54%                         Yes                         No                46%
Would rounding prices to the nearestnickel cost consumers extra money?              46%                          Agree    ...
How do we eliminate the penny?   Legislation    – Round off every cash transaction to the nearest nickel    – Stop mintin...
Notable Legislations   Currency Overhaul for an Industrious Nation    (COIN) Act in 2006    – Round prices and taxes to t...
Notable Legislations   Currency Overhaul for an Industrious Nation    (COIN) Act in 2006    – Round prices and taxes to t...
Notable Legislations   Currency Overhaul for an Industrious Nation    (COIN) Act in 2006    – Round prices and taxes to t...
Notable Legislations   Currency Overhaul for an Industrious Nation    (COIN) Act in 2006    – Round prices and taxes to t...
What Should We Do to Save OurTime & Money?   Eliminate the penny   Re-introduce the COIN Act   Round off every cash tra...
Australia                                     Cost of minting > face value                                     Retired i...
Singapore 1 cent                                 Only 6% was circulated                                 Retired in 2002 ...
United StatesHalf penny                                  Lack of demand                                  Absence of a re...
Cas pp 3 final
Cas pp 3 final
Cas pp 3 final
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  • Cas pp 3 final

    1. 1. Retiring the Penny
    2. 2. Final Destination for Penny There they are! ↓↓
    3. 3. Final Destination for Pennyronmartina.com, n.d.
    4. 4. Final Destination for Pennyronmartina.com, n.d. techory.com, n.d.
    5. 5. Retiring the Penny … Why? Using pennies is a waste of time
    6. 6. Retiring the Penny … Why? Using pennies is a waste of time Producing pennies is a waste of money
    7. 7. Should the Penny be retired? 54% Yes No 46%
    8. 8. Would rounding prices to the nearestnickel cost consumers extra money? 46% Agree Undecided Disagree 23% 31%
    9. 9. How do we eliminate the penny? Legislation – Round off every cash transaction to the nearest nickel – Stop minting the penny
    10. 10. Notable Legislations Currency Overhaul for an Industrious Nation (COIN) Act in 2006 – Round prices and taxes to the nearest nickel
    11. 11. Notable Legislations Currency Overhaul for an Industrious Nation (COIN) Act in 2006 – Round prices and taxes to the nearest nickel (defeated)
    12. 12. Notable Legislations Currency Overhaul for an Industrious Nation (COIN) Act in 2006 – Round prices and taxes to the nearest nickel (defeated) Coin Modernization, Oversight, and Continuity Act in 2010 – study the compositions of coins (passed)
    13. 13. Notable Legislations Currency Overhaul for an Industrious Nation (COIN) Act in 2006 – Round prices and taxes to the nearest nickel (defeated) Coin Modernization, Oversight, and Continuity Act in 2010 – study the compositions of coins (passed) President Obama, February 2012 – propose a change in the mix of metals in pennies and nickels (in progress)
    14. 14. What Should We Do to Save OurTime & Money? Eliminate the penny Re-introduce the COIN Act Round off every cash transaction to the nearest nickel
    15. 15. Australia  Cost of minting > face value  Retired in 1992 1 cent 2 centsThe Royal Australian Mint, n.d.
    16. 16. Singapore 1 cent  Only 6% was circulated  Retired in 2002 obverse reverseThe Singapore Mint, 2010.
    17. 17. United StatesHalf penny  Lack of demand  Absence of a reliable obverse copper supply  Retired in 1857 reverse United States Mint, 1999.

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