9. Would rounding prices to the nearest
nickel cost consumers extra money?
46%
Agree
Undecided
Disagree
23% 31%
10.
11. How do we eliminate the penny?
Legislation
– Round off every cash transaction to the nearest nickel
– Stop minting the penny
12. Notable Legislations
Currency Overhaul for an Industrious Nation
(COIN) Act in 2006
– Round prices and taxes to the nearest nickel
13. Notable Legislations
Currency Overhaul for an Industrious Nation
(COIN) Act in 2006
– Round prices and taxes to the nearest nickel (defeated)
14. 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)
15. 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)
16. What Should We Do to Save Our
Time & Money?
Eliminate the penny
Re-introduce the COIN Act
Round off every cash transaction to the nearest
nickel
17. Australia
Cost of minting > face value
Retired in 1992
1 cent
2 cents
The Royal Australian Mint, n.d.
18. Singapore
1 cent
Only 6% was circulated
Retired in 2002
obverse
reverse
The Singapore Mint, 2010.
19. United States
Half penny
Lack of demand
Absence of a reliable
obverse copper supply
Retired in 1857
reverse
United States Mint, 1999.
