A penny saved is a penny.............
By webeishere
@webeishere (36313)
United States
March 25, 2009 10:33am CST
This photo is opf a US penny that's called a wheat penny. I can not recall when they stopped putting the branches of wheat on the backs of them. But my wife likes saving them for some reaspon. Now the thing is that most things in thr US are priced with a .99 cent ending. The government has talked for years about putting the penny out of circulation. Now, what would stores do in your mind to rectify the penny not being in our pockets and with tax they know there will be change on the total price and no pennies to give back as change? Would they use a voucher for the change? Why would they stop making pennies I wonder? Your thoughts and answers are greatly appreiated. Is this common sense or what? BTW, we have quite a few dollars worth of these wheqat pennies saved. Most are worth about 2 to 3 cents. But I know we have a few worth a dollar or more apiece.
HAPPY POSTINGS FROM GRANDPA BOB!!~
8 people like this
22 responses
@catdla1 (6005)
• United States
25 Mar 09
Wheat pennies are fun to collect. When I was a cashier, I collected a large jar of them, and even got a few steel pennies to boot. Amazing that they are still in circulation. I can't imagine the penny being done away with. You know in your heart that a voucher system for change would not work...can you imagine the IRS auditing vouchers? Besides, when people accidentally drop pennies they aren't much apt to bend over and pick them up. Think of all the people who delight in picking them up to make a wish on! Where else can you have fun for a penny?
3 people like this
@webeishere (36313)
• United States
25 Mar 09
I can not phanthom the penny not around either. Especially with tax as it makes for odd penny change etc. I can see all the vouchers for odd pennies etc going towaaste and making stores even richer than now. IRS? Vouchers? Give me a break. 
HAPPY POSTINGS FROM GRANDPA BOB!!~
HAPPY POSTINGS FROM GRANDPA BOB!!~3 people like this
@webeishere (36313)
• United States
25 Mar 09
I cut pennies into ten piecesw.
HAPPY POSTINGS FROM GRANDPA BOB!!~
HAPPY POSTINGS FROM GRANDPA BOB!!~2 people like this
@dragon54u (31633)
• United States
25 Mar 09
It costs about 1.4 cents to make a penny, so it doesn't make sense to continue minting them. But they've been talking about phasing them out for years and years!
2 people like this
@webeishere (36313)
• United States
25 Mar 09
I actually think it is closer to 5 cents now days.
HAPPY POSTINGS FROM GRANDPA BOB!!~
1 person likes this
@3SnuggleBunnies (16374)
• United States
1 Apr 09
I agree with Dragon. It costs more in materials ect than it did to origionally mint a penny. And part of the blame is saving your pennies... i know it may sound silly but when I worked in a bank they said that was one of the worst things you could do was to save your pennies. Granted I don't mean not to put them in your piggy bank or anything but to cash them in more often so they stay in ciruclation. If all the change was in circulation rather than sitting at home collecting dust it would help keep the value of our currency higher as they wouldn't have to keep printing more money to meet the demand wich then means for all the "extras" there may not be any gold boulion backing it or a reduced amount.
Sorry for the Hijack dragon...
@dragon54u (31633)
• United States
1 Apr 09
I never mind being hijacked, SnuggleBunnies, when I learn something like this. I never thought of it that way. 
@winterose (39887)
• Canada
25 Mar 09
well one solution is to raise the cost of something to a dollar
but that would not get rid of the tax,
and have the tax at increments of 5 like 5 percent etc
I think
2 people like this
@webeishere (36313)
• United States
25 Mar 09
Well I doubt that they'd lower the tax. And the public would be really upset if they raised the tax. Lemme keep my pennies. Hahaha!
HAPPY POSTINGS FROM GRANDPA BOB!!~
1 person likes this
@3SnuggleBunnies (16374)
• United States
8 Apr 09
last time I heard they were supposidly worth about .07 a piece because of them no longer being minted. I don't know how true it is though....
@jerzgirl (9384)
• United States
25 Mar 09
1959 was the last year wheat pennies were minted. 1909 was the first year. Condition plays a huge role in value followed by quantity minted and which mint. My grandfather used to collect coins. I have books of pennies beginning with the 1909, but not the 1909 VBD, which is one of the rarest. The neatest ones I've seen are the steel pennies issued during WWII because of the need for copper in the war.
@webeishere (36313)
• United States
25 Mar 09
We have so mnay coins saved. I have even bought some old copins at auctions in the past thatare worth a bit more than I paid for them. We also have a lot of gold ans silver certificate bills saved.
HAPPY POSTINGS FROM GRANDPA BOB!!~
2 people like this
@abhichat1980 (250)
• India
25 Mar 09
Probably you should keep them as antique pieces as a collector and pass it to generations. The reason is quite simple why US would not want to make pennies ..... because today money minting in US is done only for Wall Street they have no time to think for the average hard working American. And as you know Wall Street requires trillions of dollars and not penny.
1 person likes this
@flowerchilde (12529)
• United States
27 Mar 09
I have a few of those somewhere.. Haven't seen one for a long time! But when I do, I always save them..
@Darkwing (21583)
•
27 Mar 09
Easy... the shops will make everything up to the round dollar or scale it down to 95 cents. To my mind, it's more likely to go up than down and everything would have to be calculated to the last five cents. For instance, if your wages were now $7.12 and hour, they'd have to be adjusted to $7.15 and so on. It's another of those swings and roundabouts situations but so many people save the odd pennies that they're bound to be taken out of circulation sooner or later. You never give the 99 cents exactly, do you?
Brightest Blessings.
@scarlet_woman (23463)
• United States
26 Mar 09
i had heard it actually costs them more now to produce the penny than what the face value of it is.that's probably why.but i guess they can move sales to the .05 type sale instead of the .99.
@tyc415 (5706)
• United States
25 Mar 09
We come across a wheat penny ever so often. I know I used to save them but not sure how many I have of them. I guess if they do get rid of the penny they will just have to mark everything at stores where it will all total up where there will not be any pennies to give or get back. I say they need to just leave it as it is.
1 person likes this
@momtrying2makeit (3270)
• United States
26 Mar 09
I agree with you it would change so many things. If they got rid of cash all together I could see it but without getting rid of it I doubt it would happen. But then again you never know....
@walijo2008 (4644)
• United States
25 Mar 09
I heard they were wanting to stop making pennies, I don't know what they would do, how would they give your change back without pennies? I've seen a few of the wheat pennies, I don't think I have any right now. You may want to hold onto those, if they ever do get rid of pennies, those wheat pennies might just go up in value, you never know, they may be worth more than just a few cents.
1 person likes this
@bookreadermom08 (5614)
• United States
25 Mar 09
I have seen those pennies, and I am not sure if I have any of them in my change jar, but that is cool that you have so many of them and that they are worth so much...how cool is that!!!!!
I know they have discussed eliminating the penny but there was a reason why they couldnt and for the life of me I can not remember what that was...
...it has been one of those days for me!! LOL
I love saving pennies, change of any kind and rolling them and seeing how much I have saved in a few months!!
happy mylotting.
...it has been one of those days for me!! LOL
I love saving pennies, change of any kind and rolling them and seeing how much I have saved in a few months!!
happy mylotting. 1 person likes this
@mummymo (23706)
•
26 Mar 09
They have done the same here AGB but I don't think they will go through with getting rid of the penny - especially in todays economic climate! WE would still have 2p coins and they may just reduce things to 98p instead of 99p! lol Mind you I don't see many places discounting anything right now - not even by 1p! xxxx
@Margajoe (4747)
• Germany
26 Mar 09
Hi!
I used to love saving pennies too.
But in Holland they took out the pennies.
You still have pennies in Europe.
But in Holland they refuse to use them any longer.
When you have something priced 0.99 cents. You pay 1.00 euro.
When you have something priced 0.96 cents. You again pay 1.00 euro.
When something is priced 0.94 cents. You pay 0.90. But that is rarely the case.
Though in Europe all stores are suppose to accept the cents/pennies, in Holland most stores don't.
In the Gulden time, they had also taken out the cent/pennies.
Me, I believe every cent saved is money in the pocket. Especially now a days.
But then again, who am I?
Take care.
But in Holland they took out the pennies.
You still have pennies in Europe.
But in Holland they refuse to use them any longer.
When you have something priced 0.99 cents. You pay 1.00 euro.
When you have something priced 0.96 cents. You again pay 1.00 euro.
When something is priced 0.94 cents. You pay 0.90. But that is rarely the case.
Though in Europe all stores are suppose to accept the cents/pennies, in Holland most stores don't.
In the Gulden time, they had also taken out the cent/pennies.
Me, I believe every cent saved is money in the pocket. Especially now a days.
But then again, who am I?
Take care. @dropofrain (1167)
• India
26 Mar 09
Hi Grandpa BOB,
I think each penny saved is a bonus. With pennies disappearing from the market it is really important to save o extra ones. Just imagine the life without pennies which has actually begin. I am afraid that this will make us suffer in monetary terms.
@Opal26 (17679)
• United States
26 Mar 09
Hey Grandpa Bob! I haven't seen any of those wheat pennies
in a very long time! I wouldn't be surprised if they are
worth a few dollars a piece! How many times has the government
said they were going to do away with pennies? If we had a
penny for everytime they said that we would all certainly
have plenty of dollars by now! I don't understand why people
think that pennies are nothing and throw them away like they
are garbage! Don't they know that when you have enough of
them that they add up! I have no problem bending down to pick
them up an put them in my piggy bank an then cashing them in!
@momtrying2makeit (3270)
• United States
26 Mar 09
You know I like pennies and all change. You know when the hard times come I use the change to the fullest. I mean I could not tell you how many times change has pulled me through when I had no dollars. I think they will never get rid of the penny. It is needed as you said to give change. Only way would be to cut all the stuff out dollars and all and than the penny would disappear.
I just realized you have your own interest that is pretty cool I am thinking about starting my own as well or am I allowed to? I think I want to give it a shot I think that is so awesome ans a great way to keep the income going. Thanks and happy mylotting to you.
@Toofancy (548)
• United States
26 Mar 09
I have been saving wheat pennies for many years, also. I think my oldest one is 1911. As far as what we would do if pennies were out of circulation - I have no idea! I cannot imagine not having pennies. That would be pretty weird. Now you have me curious as to how much my wheat pennies are worth. Thanks for your discussion!!
