Thursday, June 7, 2012

Cents-less?


Our neighbors to the north have started measures to abolish the penny, are we next?  I’ve never been opposed to them but my recent penny collection mission proves that they are pretty polarizing.  Given their puny value, the penny has few friends.  Many consider them a nuisance, while coin collectors vie for their survival.  Using good ol’ fashioned economics, it doesn’t make much sense to keep them around.  They cost more to produce than they are worth.  According to the New York Times, The United States government (aka the taxpayers) lost $60.2 million on the production and distribution of pennies in the 2011 fiscal year.  A number of countries, including Australia, New Zealand, Brazil, Finland, the Netherlands, Norway, Sweden, Switzerland and Britain, have already dropped their lowest-denominated coins without dire consequence.

Nostalgia is bittersweet with recollections of yesteryear and what I could purchase at the candy shop, or toss into a well for a wish.  What will we lay on the railroad tracks?  I guess another coin will suffice, but it’s just not the same.  If the penny dies, we'll demote the poor nickel to the bottom of the pickle jar and wonder what to do when it's full.  Amazon has a tawdry list of ridiculous products for sale, each for the asking price of a penny.  My favorites included “Dance The Macarena” VHS, Paparazzi Shades, or “Full House” Button/Pins with either Dave Coulier or John Stamos' picture on it.

Well if these little coins are put out to pasture, I’ll have thousands of them that will lay entombed at Brimmer & Heeltap.  

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