Friday, October 29, 2010

The Useless Penny

We all know by now that American money is fiat (worthless as material) so why do we continue to spend money  creating something that is worth less than what it takes to make? Money is only valuable as long as we can trade it, and as long as the government still accepts it as a payment. I suppose, trading money is better than trading goods, but that's a-whole-nother post (which I probably won't do.)

Coins are not the same anymore. A penny is not made of copper anymore. In fact, if it were made of copper it would be considered nine pennies in one because it's too expensive now. Honestly, when you see a penny on the floor, do you pick it up and believe you'll have good luck all day? I sure don't. I just keep walking. Could you go to the store and buy anything worth a penny? No.

Maybe they'll slowly get rid of it, like they did with the 2 dollar bill. Which I believe is only made for special occasions these days. I understand it could come in use when you want to spend the exact amount. I do that too.  However, I'm sure in the future all "cash" will be gone and credit cards will be our "sticks and stones." Lets save money and start early!


  1. Ha! Finally someone who agrees with me.

  2. I'm sure there are a lot of homeless and poor people who think it's great that YOU don't pick up the cent so that they can. You might not get anything with a cent, but you'll get something after having picked cents all day.

    Also, credit cards are not good. People use way too much money they don't have, when they have credit cards. Debit cards are ok, but I hate credit cards. May your wish never come true.

    Sure, it would be nice to have all your information in a microchip inserted into your arm or hand, you could just Jedi wave your hand and pay your purchases, bills and buss fares... But would it, really?
    No more anonymous gifts, no more charity, no more coins to the beggars... so wonderful. No-one would be begging either, as they know you can't give anything to anyone.
    And think what happens when someone steals your identity or decides to give you trouble... they could wipe out your bank account, hospital records, name, identity, door keys, tickets... oh, so lovely :-)

    I like playing with coins, putting coins in a piggy bank, I like the sound of coins in a pocket and the weight of coins in a purse. :-D

    Money in an account or card is just numbers. There is a reason why paper and metal money is called "real money" ;-)

  3. I told our dog 'Penny' to calm down and that you didn't mean her lol
    I like 'real money' and I've got a sofa full of it!
    Have a good weekend.

  4. Ketutar - You've made wonderful points but I think you've taken my words the wrong way. It is not my wish that money doesn't exist, but I feel as though that day will come because everything is being put into technology (I know that's scary.) My point was how worthless our money actually is and how much we spend making it, not the fact that people don't need it. I am not that cold-hearted. Regardless, thank you for sharing your views. I'm sure we all would agree how awful it would be to have a microchip in our bodies to get by in life.

  5. In canada... we still have ALL the coins. pennies, nickels, quarters, loonies and toonies. I like coins (even though I know they cost too much to make). I can't help how I feel though!

  6. Credit cards are just awful. I sure hope people don't use them as a means of purchase. I know some things require it, but it'll bite you in the end with the interest rates!

  7. Credit Cards are evil objects made only to trap people into paying off imaginary debt known as 'interest'-I have no love for credit cards. But the 2 dollar bill now THOSE are cool-when I used to bartend in a strip club the owners stocked the registers with them so the girls would get bigger tips. I suppose a trip to the strip joint might qualify as a special occasion! LOL I guess it depends on who you are. And as for picking up pennies for good luck I suppose it's silly but-I did that just yesterday!

  8. My wife is forever picking up pennies, but she doesn`t `all that day have good luck`, she does it in the hope that there will be something better underneath!
    Great blog by the way, found from The Masked Blogger, will be back, that`s if you will have me!
    Follow me @ Hedgeland Tales
    (You know you want to!)

  9. Although pennies are worthless, on their own, they do add up. There’s a saying over here, Look after the pennies and the pounds will look after themselves. I throw all my loose change into my piggy bank, which I raided last week, only to count £25. I know that sounds like a real old person’s thing to say :)

    Money is pretty much is just theoretical though in many ways.
    The enigmatic, masked blogger

  10. Remember-

    "A Penny for your thoughts,
    A nickel for a kiss
    A dime if you tell me that you love me."

    So a penny is worth a thought or a thought is worth at least a penny.

    Or a 'thought' as in "thoughtfulness" like I thought about you and your blog so I was able to read about your penny post which is worth my time and my thoughts so yeah...

    a penny still counts

    as a penny.


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