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.