Abolition of the Penny Act [At Final Vote] (user search)
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  Abolition of the Penny Act [At Final Vote] (search mode)
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Author Topic: Abolition of the Penny Act [At Final Vote]  (Read 5429 times)
Platypus
hughento
Atlas Star
*****
Posts: 21,478
Australia


« on: March 16, 2008, 10:50:41 AM »

If the first finding is correct, it is hard not to support this bill at face value. The concerns I have are these:

-Will the $0.01 still be a valid measure in all affairs? From basics such as calculating interest to high-level stock trading, the cent is actually a widely used and invaluable unit in our monetary system. Whilst I am not opposed to ending the minting process, or even automatically to the recall, I need a gaurantee that the cent will still be valid in all areas.

-Is it not possible to simply cease production but still recognise pennies as legal tender into the future? If not, why not? There is plenty of precedent for coins and notes that are no longer printed but which are still olegal tender, in Atlasdia and worldwide.
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Platypus
hughento
Atlas Star
*****
Posts: 21,478
Australia


« Reply #1 on: March 23, 2008, 11:30:30 AM »

I offer an amendment; the striking of section 4. I see no great benefit in recalling pennies; and I can see the use in having at least the ability to have currency in the basic unit. By all means I support the ending of production of currency more expensive to produce than its face value, but if they already exist, why remove them from circulation?
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Platypus
hughento
Atlas Star
*****
Posts: 21,478
Australia


« Reply #2 on: March 30, 2008, 03:07:22 PM »

Aye
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Platypus
hughento
Atlas Star
*****
Posts: 21,478
Australia


« Reply #3 on: April 08, 2008, 04:05:04 AM »

Guys, it costs more money to make than it has as a face value, and we are not removing them from circulation any more, so what is the opposition?
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