Abolition of the Penny Act [At Final Vote]

[afleitch]

I would prefer everything (excluding values of 1 cent to 5 cents inclusive) to be rounded down. If something costs $2.52 you can be sure as hell the retailer will sell it as $2.55. Across a national economy this could have an artificial effect on consumer price inflation.

[afleitch]

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?

Such a position would muddy the waters regarding the penny's status and usage. The penny could effectively remain in circulation for several decades due to the lifespan of the penny (only lessened when the penny is effectively 'lost') as there would be no effort to recall them. At the same time retailers would begin to adjust to circumstances where the penny is not common legal tender.

I don't see any reason to abolish the penny.

[afleitch]

Nay.