The new Penny

Did you know that they are sprucing up the look of the US Penny? How do you like the way it will look soon:

http://blogs.moneycentral.msn.com/smart ... eover.aspx

I guess this is better than doing away with it completely....or is it?

I still don't see how it is profitable to keep making the penny when it costs more to make it (due to high cost of metals, etc.) than it is even worth.

I don't understand why people want to be rid of the penny. I get that the costs of making them are an issue, but perhaps they could make it of different materials to reduce the cost. If the penny goes away, how are people going to make change in increments that require something to represent one cent?

As for the redesign... I don't have an opinion one way or the other. I'm not surprised that it's happening now, but it's not something I look at often, you know?

I wonder if the quarters will be redesigned soon too? That 50 state thing is almost up. I think all the states will have been represented by the end of this year.

Thoul wrote:

I don't understand why people want to be rid of the penny. I get that the costs of making them are an issue, but perhaps they could make it of different materials to reduce the cost. If the penny goes away, how are people going to make change in increments that require something to represent one cent?

As for the redesign... I don't have an opinion one way or the other. I'm not surprised that it's happening now, but it's not something I look at often, you know?

I wonder if the quarters will be redesigned soon too? That 50 state thing is almost up. I think all the states will have been represented by the end of this year.

As far as I am concerned, I can do with or without the penny. In some instances, I think the penny has almost become something of a nuisance. I always have way too many of them and yet when you gather them all together, you still almost have nothing to speak of. But, that's just me. That's a good point about making change, though. I don't have a clue on that one and guess the answer hasn't been figured out yet, but I can't say for sure.

The Penny is made of copper right now, I believe, which is why it is so expensive to make them as copper prices are high now. During the war (WWI or WW2, that is), I believe the penny was made of other metals so it is something that has been done before and could possibly be done again.

I haven't heard anything about redesigning the quarter - yet. Yes, they should be finished with all the different state quarters this year, I think. Maybe they ought to let the quarter rest for awhile since it's been through so much during the last few years.