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tal@lemmy.today 4 days agoBring back the penny.
The penny going away is not cash going away.
Trying to even find some estimate of inflation going back that far is a pain, but it looks like the smallest federally-issued denomination was the half-cent coin, in 1793.
en.wikipedia.org/wiki/Half_cent
Based on the above, a half-cent would be 17¢ today. The dime today is worth less than the half cent.
I’d be more-concerned about whether new bills of sufficiently-large denominations are available to make using cash practical, not coins of very small denomination.
The issue with the penny is that the handling costs are significant.
Hueristic_Autistic@lemmy.world 3 days ago
No it just means that everything is rounded now and you’re paying more for everything. Small, yes but you’re still paying more now. That’s what they want. They Wan toyu spending more and inflating the economy passively. The move also makes it so that spending the exact amount is only available digitally/with a card payment.
bountygiver@lemmy.ml 3 days ago
the paying more part is already covered by inflation