Buffalo Boy's Blog

I have no problem with the idea of getting rid of the penny. Thats all good and well as long as we don't get ripped off in the end. The US governement spends $100 million per year making $80 million worth of pennies. So that is a justified reason for not making them.

What I can see happening is retailers and others would say okay, if something normally costs $5.23, instead of rounding it to $5.20, they bump it up to $5.25 or worse $5.30.  Yes Im penny pinching here, literally, but there are way too many hidden taxes and price gouges in this world we live in and that should not be one of them.

Things are already marked up two, three or four times their wholesale value just for retailers to make a buck so a few pennies in the down direction shouldn't hurt them. If they agree to mark things down to the nearest nickel, then shut down the penny, if we are going to get hurt by the disappearance of the penny then keep 'em coming.