Wednesday, August 19, 2015

Pennies and Nickels Need to Go

Why is this taking such a long time to fix? Why are we spending time and money to make a coin that you can't buy anything with? What can you buy with a penny? Heck, you can't even buy anything with a nickel. Get rid of the penny and I think I am okay with no nickels as well. The dime becomes the new penny. This is a smart thing to do so any resistance is strictly emotional.

Now, I'm not totally against coins - just coins that don't make sense. So while we are at it, let's get rid of the dollar bill and start using the dollar coin we have. Again, it makes perfect sense - coins last a lot longer than bills and we'll save money doing so. In fact, we are almost to the point where a five dollar coin makes sense. It is right in line with the 500 yen coin they have in Japan and those get spent. Heck, you could buy a Starbucks coffee with a single coin.

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