When you walk into the long narrow hallway of my NY shoebox apartment, I have set up a large rack for all my shoes (I might have more pairs than E), a large vase for all my umbrellas I haven’t lost, a few softball bats, a coat rack which acts as storage in the summer, also a small shelve for my sunglasses, mirror, flowers, and a very old Japanese bowl my Uncle brought back before the 2nd world war. In that bowl holds my keys and the left over change of the day, collected and sifted later for laundry quarters.
That bowl needs a consistent turn over every four weeks, not because I’m a heavy cash users but the over abundance of the useless copper coins that fill it to the rim each month. I, like most people leave my left over copper in convenience store “take-a-penny-drop-a-penny” bins and praise those clerks that have them available when I don’t have a few extra pennies.
Increasingly there’s a push to eliminate the penny in today’s commerce. We manufacture them at a loss and according to the Washington Post, they’re a cost center for business and no longer a way to round up the revenue with a few cents:
Quote from the Washington post:
In this great country, not even the most obscure subject escapes scrutiny, so I am able to report that the National Association of Convenience Stores and the Walgreens drugstore chain have estimated that handling pennies adds 2 to 2.5 seconds per cash transaction. Assume that the average citizen makes one such transaction every day, and so wastes (to be conservative) 730 seconds a year. The median worker earns just over $36,000 a year, or about 0.5 cents per second, so futzing with pennies costs him $3.65 annually.
From Hey Norton blog:
The anti-penny contingent has been unsuccessful to date, largely due to the strong opposition of the Zinc lobby (really). Perhaps the specter of recession and the pragmatic support of the Treasury secretary will give the de-coining effort new mettle.
I’d go on to make my case but this post isn’t worth the pennies of advertizing I won’t even make for viewing this… Feel free to read on though.