WebAnswer (1 of 4): As previously mentioned, governments use a passive system rather than actively seeking them out or paying a bounty. The US has done this multiple times for … Web2 jun. 2004 · If the government decided to get rid of the cent, they're going to have to do some MAJOR changes for the economy to work out. It's like the dollar coin versus the dollar bill. In order for the dollar coin to work, they will have to FORCE the public to use it by getting rid of the dollar bill.

Why doesn’t the US get rid of pennies and nickels? - Quora

WebIs it practical to try to get rid of pennies in the United States economy? It would be incredibly simple: stop minting pennies! That's it, that's all the government would need to do. As existing pennies wear out, they'd be removed from circulation, and businesses would eventually just stop accepting and dispensing them. Web26 aug. 2024 · Between the penny and the nickel, the U.S. government lost $120 million in 2024 alone minting these coins, as the costs exceeded their value. This idea was … first presbyterian church pittsford ny

Why has Canada killed off the penny? The Economist

Web30 mrt. 2012 · The government announced in the budget that it is eliminating the penny from Canada's coinage system. In about six months the Royal Canadian Mint will stop … Web16 jul. 2024 · The United States is experiencing a shortage of coins. And people who have been trying to get the U.S. Mint to ditch the penny for years say it is the perfect time to … Web4.The Coin Coalition points out that no vending machine will accept pennies. Even gumball machines charge at least a nickel.So, getting rid of the penny is better for vending machines. 5.The government isforced to produce 7 billion pennies a year because they do not circulate. People take them home and put them in a jar and forget about them. first presbyterian church port huron michigan