And yet they never explain why there are still pennies. Short answer: Zinc producers like selling their zinc.
@petert33555 жыл бұрын
I always thought the US kept the penny because of all the "monument" commemorative penny machines about the place.
@egodeosum5 жыл бұрын
Only true for the US. British penny and eurocent are copper plated steel. The zinc lobby might be the main factor preventing the US ditching the penny but not why we have the penny.
@mickeyrube66233 жыл бұрын
Because it takes legislation to get rid of the penny. Since it makes sense for both conservatives and liberals to do it, there is nothing to fight over. I'm not making a joke, there are studies on why unanimously agreed upon things don't get done. Like marijuana reform. Something like 80% of the population agrees that the laws should change. Trump said before he got elected that he didn't really like the war on drugs. The Dems agreed. So what happened? It's not worth fighting over, because it will not get you re-elected. It not partisan, so it's a waste of time.
@quantumangel3 жыл бұрын
Of course there are studies and propaganda claiming that legislation is flawed and can not possibly progress because of psychological quirks and bureaucratic proceedings. It's not like the big powers (like pharma) would use their big money to keep inconvenient laws (like legalizing marijuana) from passing. Most of the conflicts between conservatives and liberals are orchestrated by the power mafia; usually to divide people and distract from more important matters.
@mickeyrube66233 жыл бұрын
@@quantumangel ???? I don't know if you are agreeing with me or not...but anyway, marijuana was just one example. Others include better education, and legalizing prostitution. Every is for these when asked, but no one makes a big deal about it, because they focus on things that they hate about the other side.
@simoncooper67525 жыл бұрын
I don't think they should scrap pennies, but I do think retailers should stop pricing things at something 99!
5 жыл бұрын
In the Netherlands we dont have 1 and 2 cents. But we still have prices like 9,99
@TrigramThunder5 жыл бұрын
@ Stupid question I know, but in that case how do you pay? Do you have other coins that can add up to 0,09, like 4 cent coins or something?
5 жыл бұрын
If something is €9,99 you pay €10 and if it cost 9,97 you pay 9,95. That is only with cash. If you pay with card you pay the correct number.
@franzfanz5 жыл бұрын
In New Zealand we got rid of 1 and 2 cent pieces in the 1990s and the 5 cent in the early 2000s. We also reduced the size of all our coins. It's extremely likely that the 10 and 20 cent will be removed from circulation in my lifetime. Mostly we don't find it weird as most transactions are electronic these days.
@thatjokerperson70625 жыл бұрын
Something ending in .99 is a trick to make you spend that dolar extra without realizing because you only read the big number so when something is 1.99 your mind reads it as a buck and not 2 bucks
@thewealthymind87075 жыл бұрын
Penny for your thoughts? Priceless 😊
@dbsirius5 жыл бұрын
To coin a phrase
@russcrawford33105 жыл бұрын
Thoughts are costing $0.38 these days ...
@richardharepax1235 жыл бұрын
@@russcrawford3310 before or after tax
@MrThinkoutthebox5 жыл бұрын
I think the Lobbyists got to this guy too....that would explain why he went in circles and didn't answer his own question
@roachtoasties5 жыл бұрын
It's not just the penny that is obsolete in the U.S. The U.S. continues to churn out $1 bills, instead of a sturdy $1 coin. We (the U.S.) continue to do things backwards.
@roachtoasties5 жыл бұрын
@@SpitfireMLG If a $1 note could actually buy something substantial, it would be another story. One can't buy a candy bar for a $1 anymore. Inflation has made the $1 bill obsolete.
@jasoncrobar7245 жыл бұрын
I'm Canadian. Pennies still exist here, and are still valid as money, but with none being put back into circulation, shopkeepers don't keep them in their tills. All cash transactions are rounded to the nearest nickel (5c). We never get pennies as change. The sales technique of selling something for $7.99 instead of $8 certainly works to boost sales, but the boost would still exist if the price was $7.95. It might even be a bigger boost, as it would look like a better deal, especially with cash payment rounding. Paying cash for a $7.99 total here, is still paying $8, but for a $7.95 total, you get a nickel back. Don't get me started on Nickelback...
@cbernier35 жыл бұрын
Yea but sales tax brings that back up over $8.
@GonzoTehGreat5 жыл бұрын
@@cbernier3 Irrelevant.
@cbernier35 жыл бұрын
@@GonzoTehGreat no it isn't. It's very relevant in America, where sales tax is added to the total. Except in the states that don't have sales tax or purchases that are exempt. If the point is to make something seem like less than $8, then with tax, it's really 8.63, it's not less than $8 anymore. I always round the prices up, this psychological trick doesn't work on people who round up. It's also relevant to the change. You can set prices to end in 0 or 5 to not need pennies, but then the taxes make you need pennies again. After you add like 5-10% tax, you no longer care about the difference between 7.99 and 8.00, you end up paying almost 9.
@GonzoTehGreat5 жыл бұрын
@@cbernier3 Ah OK, you're saying the addition of the sales tax can result in a total which still requires pennies, which is indeed relevant. My bad. I suppose they could use calculators to set the prices so this doesn't happen or include the tax in the price, but both are a lot of effort to eliminate pennies, so it's probably easier to just keep using them when paying by cash, while making it easier to pay electronically.
@davidmarchant93865 жыл бұрын
Yeah nickelback is a overrated band
@richarddavies32135 жыл бұрын
UK here, 1 and 2p coins should have been scrapped years ago, their pretty much worthless. I work retail and the majority don't even want the copper change. Thankfully over half the transactions I get are debit card or contactless. I'll personally be extremely happy when cash is banned altogether. Faster for stores to cash up, no money to steal delivering it to the stores and no chance of a till being robbed as there is no damn money.
@Stopreadingmyusername235 жыл бұрын
Because that way, tax can be accurately payed. Say you buy 2 candies. The extra tax is 32 cents. You can use any coin combination to get between 30 and 35 cents, but without the penny you couldn’t accurately pay the tax.
@ShadowLimited3105 жыл бұрын
Or you know just include the tax in the price
@muphyin5 жыл бұрын
Some of the best educational videos I watch on KZfaq thanks keep it up
@animewatch42135 жыл бұрын
In China, the penny had been dead for decades but the recent rise in digital payment revive the penny digitally.
@Azknowledgethirsty5 жыл бұрын
Yeah I think that digital payment includes the thousands of a euro / pound /dollar
@nicholashle5 жыл бұрын
This would have nice for my penny presentation 3 weeks ago :)
@IvoPoblete5 жыл бұрын
Haven't seen a bill or coin in a while, now. For that I have my phone.
@CityLifeinAmerica5 жыл бұрын
Apple Pay FTW, and I’m in the US
@Kikester5 жыл бұрын
Ivo Poblete PayPal etc. I pay everywhere with that and rarely have cash on my hands lol
@pyeltd.54575 жыл бұрын
CONTACT LESSSSSSS BEEEEER now poor lol
@surfie0075 жыл бұрын
In Australia prices still end in .99 even though there are no pennies, prices round to the nearest 5 cents
@bayraktarx13865 жыл бұрын
That's kinda dumb :D
@SeekerOfKnowledge5 жыл бұрын
@@bayraktarx1386 Nah it's a marketing technique.
@something2sea5 жыл бұрын
To be fair, we only round to 5c for cash sales. Card / contactless sales are always rounded to the nearest cent. So although it is a marketing technique, (arguably) most sales are still rounded to the closest cent. Don't even get me started on Petrol Stations having petrol prices rounded to a 10th of a cent though… that must to be a marketing technique through and through!
@MichaelRockfez5 жыл бұрын
Same with Canada. Works well 👍🏼.
@Ccirgrg5 жыл бұрын
There's also a lot of $x.95 for that reason
@codeorangefilms36745 жыл бұрын
It said in the beginning that Canada stopped producing pennies in 2013 but then later it said 2012
@CNBCi5 жыл бұрын
Good catch. Thanks for letting us know. We're updating to reflect the correct date, 2012.
@QuarioQuario543215 жыл бұрын
What if something allowed us do deflate currency? It could in fact come back.
@charlestalks56385 жыл бұрын
Why would you want that? That would reduce economic growth and limit investments.
@jamie-tl7ru5 жыл бұрын
Ireland doesn't use 1c and 2c coins anemore and nobody gaveout. Last month I was in spain and bought a jumper for 19.99 and honestly was shocked to get back the 1c . In my opinion change is a was of time
@pyeltd.54575 жыл бұрын
jamie 123 not if the change is a lot
@nickgehr69165 жыл бұрын
$ 1 million is not $ 1 million if you lose a penny
@TheModernInvestor5 жыл бұрын
Why do we have fiat currency? This is the real question.
@Abdi-uy1kh5 жыл бұрын
what is fiat? money not backed by gold and silver?
@Someone-cd7yi5 жыл бұрын
@@Abdi-uy1kh yes, money based on trust in central banks.
@manhp5 жыл бұрын
@@foxy7558 The only real problem it cause is making it hard for governments to print endless amount of money, inflating the supply, and robbing people of their hard-earn purchasing powers
@JJs_playground5 жыл бұрын
We have Fiat currency for economic growth. By pegging the dollar to gold, you can only grow a certain amount (the rate you mine gold/silver)
@Azknowledgethirsty5 жыл бұрын
@@manhp gold is so unpredictable that mining may cause the value to drop or rise incredibly
@inositoltriphosphate48715 жыл бұрын
Pennies don’t even Fuking work in vending machines anymore
@matthewyabsley5 жыл бұрын
They do. If you place the penny on its edge directly on the glass and then hit it with a hammer then it breaks the glass. You’ll need a razor blade to peel the laminated layer but after that you’re good to take the goods you need. Be a good chap and leave the penny inside when you’re done :-)
@interestingtopics-adeepera64975 жыл бұрын
I'd like to see the effect on charitable donations when small denominations are removed from circulation.
@abuferasabdullah5 жыл бұрын
InterestingTopics - A Deeper Analysis They’ll still ask for Lowest amount to donate
@MichaelRockfez5 жыл бұрын
Cashiers could just ask if you’d like to add a donation if you use card. Most wouldn’t donate just one cent with fear of looking bad. Unless you’re paycheck-to-paycheck, you can spare 5 cents.
@diedertspijkerboer5 жыл бұрын
When we still had the guilder here, cents still existed in prices, but were rounded to the nearest multiple of 5 cents upon payment with cash. We now have done the same with euro cents. Exact prices have always been used when paying by card
@HBC101TVStudios2 жыл бұрын
I love how the Antilles still use the Guilder
@Penguin_Tree5 жыл бұрын
Get rid of pennies
@dennisp85205 жыл бұрын
No pennies add up . I care about my money and making it stretch I don't want to be cheated in my change
@ian-checkmyaboutsection39615 жыл бұрын
Mad Mod a penny has saved me many times
@dennisp85205 жыл бұрын
@Abuse The Poke Trust me I do pay with card, I never use cash. However, there are still cash only places or places that have fees for using your card. In that event, I don't want to be cheated. Sorry, but for as many transactions as I have to make in a month the pennies add up. Unless you plan to foot the bill the penny should stay. It could be made of plastic for all I care so long as its there.
@trevorsmith1855 жыл бұрын
why do we have coins? never use or look at coins when everything is on my phone or card. RIP coins.
@AJ-ku7nm5 жыл бұрын
I must be really tight. I’m always spending my loose change.
@superfluidity5 жыл бұрын
"By law vendors don't have to accept one penny coins as a form of payment for anything over 20p" . This is misleading. Vendors don't have to accept anything. As it says on the Bank of England website: "A shop owner can choose what payment they accept. If you want to pay for a pack of gum with a £50 note, it’s perfectly legal to turn you down. Likewise for all other banknotes, it’s a matter of discretion. If your local corner shop decided to only accept payments in Pokémon cards that would be within their right too. But they’d probably lose customers. " Tom Chitty is referring to the legal tender rules, but as the bank says, "Legal tender has a narrow technical meaning which has no use in everyday life. It means that if you offer to fully pay off a debt to someone in legal tender, they can’t sue you for failing to repay."
@markreichman59225 жыл бұрын
The USA has never minted a penny. The USA has a "one-cent" coin. Penny is a English term used in the USA, but never appears on a coin.
@CornishCreamtea075 жыл бұрын
I always like to have a a few pennies with me encase I get something that costs between 1-9 pence(after a pound)
@MsMRkv5 жыл бұрын
In Ecuador is pretty useful since we don't spend that much money as in the us.
@fuxyews21775 жыл бұрын
Anything that costs 100 of something to pay for a single loaf of bread is a currency that's exhausted its purpose
@hairyrope19125 жыл бұрын
Loaf for a dollar? Where are you shopping?
@piemaster18005 жыл бұрын
@@hairyrope1912 dollar tree usually has bread for a dollar.
@firstname-kd1bd5 жыл бұрын
Because of the stupid $4.99 scam
@MrMickey19875 жыл бұрын
Here in the Netherlands we no longer use 1 and 2 eurocents too!
@johntracy722 жыл бұрын
The UK and USA both should discontinue the penny.
@casey95595 жыл бұрын
Why do we have the penny? Well, answer this and then you'd understand one of the reasons: *Why do things cost £__. 99?* Exactly
@Ice_Karma5 жыл бұрын
It's called "psychological pricing", where instead of, say, £10 you say something costs £10 minus the minimum currency unit... it works just as well whether that unit is worth 1 or 2 or 5 or 10 nominal minimum currency units (e.g., pence, cents). Here in North America, some retailers deliberately use, e.g., $__.97 instead of $__.98 or $__.99 so they're at least one or two cents cheaper than their competitors who use a higher psychological price-here's looking at you, Walmart. >.>
@simpleasliam6575 жыл бұрын
I was waiting to see if you'd mention about penny donations to charities lol
@JNCressey5 жыл бұрын
Only the charities that people really don't want to give to, but don't want to appear uncharitable by giving nothing, would lose out.
@IamTheHolypumpkin5 жыл бұрын
Being German.. No.. I... pay... Cash... Only. And always wenn possible precisely to the penny/cent when possible. I love my change and small coins. Cashless payment is to much of a, hassle for me. PS: as of 2017 74% of Payments where made with cash in Germany. But it goes down. 2014 it still where 79% of Payments where done in cash.
@CityLifeinAmerica5 жыл бұрын
Hassle? Here in the US you’d be looked down upon for having to count where has 10 other people would have finished with their cards. What’s wrong with debit cards? Some 70% of transactions here in the US are card/phone/whatever
@lego4av5 жыл бұрын
Free open market economy is more efficient by using .01 physical value....
@rhysmuir5 жыл бұрын
If the increase in sales rose by 15% just charging 7.99 instead of 8 pounds, image if you got rid of the the penny and rounded to the nearest 5 pence! Sales would go up by 60%! That's how maths works, right?
@davidmarchant93865 жыл бұрын
If something was £7.99 why would you round it up by 5p ? That would be £8.04, id rather just pay the extra 1p to make it £8.00, the government raised vat to 20% from 17.5% that was more costly than a 1p rise on 1 product
@Endergirlz5 жыл бұрын
David Marchant They’re talking about round down the original price 8.00 by 5 pence. Not to mention, even if you round 7.99 to the closes 5 pence, it would be 8.00 and not 8.05.
@davidmarchant93865 жыл бұрын
@@Endergirlz right 1. he said round it to the nearest 5p which that will make it £8.00 and 2. I never claimed it be £8.05 i said £8.04 lol
@markusass5 жыл бұрын
I remember the half-penny, which was withdrawn a few decades ago. A UK penny is mostly steel now, which is a far cry from when the Mercian King Offa introduced the silver penny in England back in the 8th century AD.
@Lubomir15 жыл бұрын
Pennies are made so that some toddler or anyone can be very happy to find one on the ground
@DDD-wt7ly5 жыл бұрын
Is 7.95 really that hard?
@jacklabue35935 жыл бұрын
If there are 11.3 billion pennies in the UK, and 8 percent of them are in the garage. That means that there is 904 million dollars in pennies just laying around in the trash
@ATTACKASSASSIN5 жыл бұрын
Jack LaBue Well it would be 904 million pounds if it was in the UK, not dollars
@RK-ep8qy5 жыл бұрын
Jack LaBue rubbish*
@arrgghh15555 жыл бұрын
9.04 million pounds
@CloudTribe5 жыл бұрын
I'm Canadian and havent seen a penny in years. It was weird for a year but then you get used to it and don't even miss them after a while.
@Yetaxa5 жыл бұрын
I don't really know why anybody uses cash on a regular basis anyway It has its uses, but not for day to day use
@egodeosum5 жыл бұрын
I don't get why the prices ending in 99 thing always pops up when disscussing pennies. Only the total amount is rounded up or down, and then only when paying cash. There are still plenty of prices ending in 99 in countries without pennies. I don't know if there's any evidence for scrapping the penny negatively impacts charities, but whenever I'm in the UK and I give to the donation box I definately check my pockets for larger coins than a penny.
@GH-oi2jf5 жыл бұрын
The penny is obsolete. Time to get rid of it.
@mikolajwojnicki21695 жыл бұрын
Seems like Finland has the best solution. The prices in shops can end in ".99" but when you pay with cash, the price is rounded to the nearest 5 cents.
@casey95595 жыл бұрын
*Wait, there are still 1p sweets?*
@TheWealthGenerator5 жыл бұрын
In Canada we killed that awhile ago
@ashutoshdandagi5 жыл бұрын
Well in Australia, although the 1 and 2 cent coins are not in circulation, they are still legal tender but only up to 20 cents
@ILovePancakes249 ай бұрын
Its mainly for flooring and for throwing them into fountains, rives, and lakes.
@christoffegamboa22705 жыл бұрын
Amen...
@firemanjoe94915 жыл бұрын
I told a lady that she had dropped a few coins on the floor of a grocery store. She said “oh it’s fine... I wouldn’t want to pick them up.” When she left I retrieved them and it came out to about thirty cents. I put those in my daughter piggy bank. A few days later we cashed them and got her $12 of candy... it’s not about value. It’s about convenience vs laziness.
@JC-br1nm5 жыл бұрын
i think 1:40 is incorrect, they added cheaper metals but the face value still remained the same, thats how a debasement of a currency works.
@ulutiu5 жыл бұрын
Debasement is a lowering amount of precious metals in coins. Inflation is an increase of prices. Debasement causes inflation. But not necessarily other way round. You can still have inflation with gold/silver based currency.
@icallgreens895 жыл бұрын
It's "one cent" here in the states bro not penny. I give credit to Rick Harrison from pawn stars for that knowledge.
@hankbridges50555 жыл бұрын
They should reduce penny production. Silver dollars aren't seen. People should go to the bank and get new dollars and buy things with it to circulate them into the system. On-line shopping saves gas and time. Stores are inconvenient and on-line shopping offers a variety. Stores don't publish catalogs like before. Television ads are expensive.
@matthewwilkes61625 жыл бұрын
At 2:08 there is missing subtlety. The limit only applies to the settling of debts, not any purchase, and it applies to the amount of 1p and 2p coins, not the value of the purchase. For normal purchases vendors are not required to accept any form of payment, legal tender or otherwise. For debts vendors still don't *have* to accept legal tender, it's just that paying into a court funds office in legal tender is a defence to court action for non-payment of debts, which the creditor must accept if ordered to do so by a court.
@russcrawford33105 жыл бұрын
I don't know about today, but a few years ago, the US Mint produced more pennies than all other circulation coins combined ... that's an amazing statistic ... many countries have also ditched their lowest currency bills ... what in the USA would become the dollar and two dollar coins, we have dollar coins but they won't get used until we remove the dollar bills from circulation ... ha ha ha ... we have a casino nearby and a surprising number of businesses accept the betting chips as payment ... really it's only the banks that don't ...
@Shumayal5 жыл бұрын
In UAE expats are demanding small value coins called fils!
@dai-nippon_digger5 жыл бұрын
I love pennies. I trade out large amounts from my friends and I make a 20% profit from people who give me their pennies.
@corthew5 жыл бұрын
The answer to the question posed by the title of this video is simple and doesn't take a video to say: They were once worth more. The video doesn't even answer its question. What it does instead is pose a different question: Why do we STILL have pennies. And the answer a bit more complex but not much so. While its easier to create a denomination than it is to get rid of it, its also important to keep in mind taxes. In the absence of the penny, taxes on cash sales would need to be rounded to the nickel. Pennies don't have a serious impact on purchases but nickels will.
@alexcholagh83303 жыл бұрын
I have 100s of pennies. I search thru them for errors and foreign coins. I pay my bills groceries foods clothes taxes banks and other service goods with the penny. Pennies are good for charities schools hospitals paying bills and taxes and buying goods. I never buy goods with credit cards and debit cards making myself looking an ass in debt
@tonybone18895 жыл бұрын
I always just put my small change in the shop charity boxes mainly in air ambulance ones
@pyeltd.54575 жыл бұрын
It's literally landfill. 1p and 2p is a waste and useless unless you have 100 of them to buy something that cost 10£ which no one dose that. 5p and 10p should be the lowest penny and 25p and 50p be the 2nd lowest penny as you can get somewhere with that kinda. 50p lemon whipes as Wilko's 😇
@thoperSought5 жыл бұрын
seems like they’d get the same result from €7.95 as from €7.99-so this is not an argument in favor of pennies.
@thoperSought5 жыл бұрын
@KILLERxPRO99 have you ever worked in a restaurant? they kiss off more than that because it's just not worth worrying about. let's say they sell 50 pizzas a night at €8, or 57 pizzas at €7.99 or €7.95-that's a difference of €2.28. how much are they saving by not dealing with pennies? I don't know but probably not as much as €2.28. so, let's say they're still down €2 for setting their price at €7.95. how much does each worker make, per hour? does the manager come through and rush everyone in the kitchen through they're final cleanup-to make sure they clock out as quickly as possible? I guarantee you that they could save way more than €2 by doing that, and that's even if no one it milking the clock by sitting around for five minutes without clocking out after they finish-which is super common, and which, in my experience, managers often have better things to worry about. they'll do something if they catch someone doing that, but I've never seen someone proactively checking for it. saying something about "4 cents profit" makes a lot of sense if you have a lot of high-precision processes. if you're manufacturing millions of hinges at a factory in China, and you can cut the price you pay per hinge by even 1 cent, that's _huge,_ but that's just not what restaurants are like. in other businesses, I think this is handled in different ways, but the death of the penny hasn't crippled the economy of places that have already stopped using it.
@buzzfeedright41545 жыл бұрын
I live in Canada and it pisses me off every day that they don't mint the lowest common denominator of currency. You loose a couple cents here a couple cents there and over time it pisses you off more and more.
@Arthirias5 жыл бұрын
You wouldn't need to ask this question if central bankers didn't destroy the US dollar currency value after hijacking our monetary policy in 1913 illegally.
@kikyoass5 жыл бұрын
Stop making pennies and 1 dollar bills. Make $200 dollar bills and circulate more $2 dollar bills
@ceph0425 жыл бұрын
I remember about 10 yrs ago when you could buy lollipops for 1p. Now the cheapest are 5p
@ulutiu5 жыл бұрын
I live in Poland and I don't remember lollipops being this cheap even 25 years ago
@cookiejar5135 жыл бұрын
I did a whole essy on this. I am so over talking about this topic!
@MrHaydnSir5 жыл бұрын
2:20 that honestly looked like the Mr Simms in my local town
@GRIMLOCKCRUSH5 жыл бұрын
Just do what Australia did its so much easier having things rounded up. The only coins we have are five, ten, twenty, fifty, one and two dollar coins. Everything is priced fairly with no stupid twenty one cents or ninety nine cents, its either a dollar or twenty cents. Its a much easier solution and nobodys got pockets filled with one cent coins.
@JNCressey5 жыл бұрын
4:17 translated into honest: "Some experts believe prices ending in 99 are a time honored manipulation technique that help business scam the number illiterate. For example, researchers found that 15% of the customers of a pizza were able to be manipulated into paying €8 when they thought the price looked like €7."
@punker4Real5 жыл бұрын
I save all my coinage then cash it in when I need a oil change I normally have enough saved up
@jamescutler45155 жыл бұрын
Small change like 2p's are a lot of fun in the arcades. It would be a great shame if that wasn't possible in the future
@jamescutler45155 жыл бұрын
Well, that's a matter of opinion I guess. I personally think the government spending millions so I can have five minutes of fun is a very reasonable and appropriate use of tax payers money
@badwolf90905 жыл бұрын
"Garbage bin". Do you really have to appease an American audience when you're British in Britian talking about mostly Britian?
@badwolf90905 жыл бұрын
Garbage is an American English word. The appeasement comes from the fact that an obviously British English speaker has tried to use an Americanism in place of a British English word. Which is why we've ended up with "garbage bin".
@chaddanylak87065 жыл бұрын
I keep my penny and once a year I exchange then at the bank for note
@sri.sai35 жыл бұрын
Because you don't have the balls to save tons of money each year.
@HeyItsMaher5 жыл бұрын
I didn’t realize it’s been 6 years since we got rid of them
@pax43705 жыл бұрын
Okay so the video isnt about explanation about why the penny exists Its a question raised to the powers that be.
@jostsomuan80125 жыл бұрын
mrkt yeah, I get what you’re saying. They title should’ve been “Why we STILL have pennies” or “Should we still have pennies” something like that.
@forbiddencrisis41495 жыл бұрын
1/2p was demonitised in 1984
@DakuJTenshi5 жыл бұрын
I like stores that estimate their prices based on taxes to have exact change I used to go to stores that would sell a drink for something like 1.79 a rather random price but after tax would be exactly 2 dollars that's what we need more for the convenience I'm sure for the economy it would be terrible
@richardharepax1235 жыл бұрын
I love the pennies I save them for big purchases after I cash them at the bank but I wish I could use them in pop machines
@Alex-ul5bp5 жыл бұрын
Shops in the don't have to accept any money, it's a myth that comes from 'legal tender'
@Yetaxa5 жыл бұрын
@steve gale they don't have to accept money, unless you are in debt to them But it would be very stupid to refuse
@Dear_Mr._Isaiah_Deringer5 жыл бұрын
How about we don't debase currency?
@Dear_Mr._Isaiah_Deringer5 жыл бұрын
🙁
@sourabhs145 жыл бұрын
If I had a penny for every youtube video I watch..
@williamg209two5 жыл бұрын
Theres no reason to get rid of it, the 2p would destroy the seaside industry if removed
@schwarzerritter57245 жыл бұрын
We still have pennies because, for some reason, markets have the habit of ending prices with a 9.
@ProK19045 жыл бұрын
I only get paid for change, however no one wants accept penny in the UK any more. Not even most of the self checkout machines
@gayatribehera40753 жыл бұрын
WHO IS TOM MOORE WW2 100YEARS
@EVILBUNNY285 жыл бұрын
What’s the point. If you remove the penny, or even the 2 pence piece, the 5p coin will become the new penny. Then we’re stuck with the same dilemma, what would be the point in 5p coins? Inflation is making our money worth less.
@mountguitars5 жыл бұрын
We've come a long way. I use my cellphone to tap to pay or even do money transfers or pay my bills and even buy things online.
@BlazVeber695 жыл бұрын
What else will you throw in the fountain, a pound?
@6_1_5 жыл бұрын
Sell your coins for satoshis
@teracycline5 жыл бұрын
Same reason people still using imperial units: people don't like to change.
@minidwarfdude92305 жыл бұрын
Answer: Arcade penny machines Save you watching this video
@JNCressey5 жыл бұрын
The rich kids be playing on the 10p machines.
@justschr5 жыл бұрын
I don't feel bad for charities at all. Not when they have enough money to pay inflated salaries to executives and throw lavish fundraising events.
@marcranger45965 жыл бұрын
Can't remember when I last time saw or used coins or banknotes. Everything happens on nfc payment nowadays
@theluftwaffle15 жыл бұрын
marcranger I seriously doubt that. Yes cash is being used less. But they’re not rare.. you make it sound as if it’s been 8+ years since you’ve seen a single coin or bill.
@robdubz15105 жыл бұрын
use cash more people, or do you like the government or big business know what your buying ... #privacy
@jcd7765 жыл бұрын
Nobody cares who the hell you are. You are not important enough to be spied upon.
@hairyrope19125 жыл бұрын
Waste of currency. Seriously the penny is worthless.
@pyeltd.54575 жыл бұрын
What about 2p
@pyeltd.54575 жыл бұрын
5p Freddos tho. 10p 2x Freddos and 25p energy drinks.
@Joeink1005 жыл бұрын
If anything keep the penny but get rid of the 2p cause everything is 99p