Kim Kalve Yes, but the question is, are there better fights to be had? Are there things that are much more wasteful which would be an easier and faster way of reducing wasteful spending? The zinc lobby isn't the only force at work here. I think a bigger problem is that people hate change. And many Americans who don't understand we actually don't need the penny will likely fight this tooth and nail. I mean, it is an American icon. And killing an American icon is something that many politicians don't want to be associated with. I fully understand the case against the penny and agree with it. I just don't think trying to convince legislatures that this is an issue worth fighting for would be a good use of anyone's time. Not while there are many more pressing matters.
+Charles Miller Thats like saying spending 15-20 bucks a month for a magazine subscription you dont read is basically nothing. Yea its not a lot but your not gonna just say "Fuck it I dont need that."
+Charles Miller I think you're exaggerating the resistance... Here in Canada the penny died a quick, easy, simple death, and no one misses it. I'm sure in America about the same thing would happen.
ImmoralJester Yeah, but the difference is, I don't need to convince the majority of 534 other people and literally create an act of congress to cancel a magazine subscription. And if my willingness to save $20 is misconstrued I could lose my job.
John Adam Johnson I know! Mama would be so proud.... she passed last year....choked to death......on a worthless penny!!!!!!! PENNIES ARE PURE EVIL THE DEVILS MONEY I TOTALLY AGREE!!!!!!! DESTROY THEM ALL WHILE YOUR MOTHER'S ARE STILL ALIVE.........
John S my husband says the same thing pennies are the devil. I collect the little devils because I like to go to tourist shops or even amusement parks and smash them with the logo or a design. Also to teach our younger children how to save money and how to count, basic stuff. Ayane's mom
Consider the fact that the space used to hold the penies could be used to for more valuable coins? You're cutting into your profits that way. Also transporting/processing penies probably isn't worth the cost.
Here in New Zealand we got rid of the 5 cent coin like ten years ago - now our smallest is the 10 cent coin. When paying by cash, if the cent ends in five or below, you pay the lower ten, if six or above, you pay the higher ten. Works pretty well!
Becky Howie sounds like some really bad inflation though. Like, dimes are literally your pennies. Or will be when machines automatically work in tens. Here in America it's the same trend though. I remember when a 20 can buy food for a week.
Horrors! I've been *clickbaited!* Not only were there no *terrifying* reasons why pennies still exist, the video was all about why pennies should *not* exist.
I was clickbaited too, although they did give a reason for why pennies still exist, it was singular and not terrifying (maybe terrifyingly predictable as lobbyists are the reason we have most things we don't really need).
It's because of lobbiests, and businesses who are paying the lobbiests to keep their bottom line nice and black. Never a better quote than "follow the money.", in this case it's pretty apt as well.
I don't know about the rest of you but I find lobbyists screwing the public to save their corporate masters money pretty terrifying. But I guess americans are so used to this they don't care anymore.
Lobbyists rule the freakin world! We need to bring to the attention more information about lobbyists and shame them in the public arena. First to go - the Jarden Corporation.
haha fucking idiot thats literally what they want your bitch ass to think then you wont feel like your being rammed up the ass each time its tax season
+lewaproductions Yes we do. There were over 480 million minted last year. I would give this year's stat but the royal mint website has not updated it yet.
+TheGaragebandGuide They aren't referring to modern British pennies (probably). In the UK we phased out the halfpenny in 1984. What they said was 'gotten rid of their *smallest units* of currency'.
+jbanks4life Haha me to, I didn't notice it till after she ate the burrito and then spent the next 30 seconds thinking why has she still got burrito on her face, till it zoomed in and I realized what it was.
First, even if we stopped making pennies, we would still have all of those old pennies. Secondly, the phrase "my two cents worth" comes from a time when two cents was enough money to feed a family of four for a day.
@@matthewwriter9539 not really, the etymology of the phrase "my two cents worth", has several possible origins, in early american gambling (in 1900's a penny then is around $0.30 today), or in connection to the origin of "penny for your thoughts" originates in england 1600-ish where a penny could potentially get a loaf of bread, or a beer, the earliest analogous use of "two coins of small value" would be in scripture, and the 2 coins (or pennies) mentioned there would have a referenced value today of 2-3 dollars. hardly enough, in either instance, to feed a family of four for a day
Stiflers Mom I don't need to educate myself if the word homophobia means exactly what I'm using it for. ho·mo·pho·bi·a ˌhōməˈfōbēə/ noun dislike of or prejudice against homosexual people.
I call bullshit on the average American wage being $22. Where? Beverly Hills? Carmel? I'm 35, and I think I only know 1 or 2 people in the 18-34 range that even makes close to that. I live in one of the top 3 most expensive states, and minimum wage is still under $9/hour. I live in a reasonably cheap apartment, but it's still $800/month. There's WAY more people on minimum wage in this state, and this country, or at least making under $10/hour,than people making say $60/hour+, that there's no way in hell $22 is the average. Then again, there are a few people that make $20k/week. Maybe it evens out for the now non-existant middle class in this country.
Blank Stairs you're omitting all of the doctors, lawyers, IT professionals, and business men of varying types, some of which make insane amounts of money
The problem is that a small group of higher income people pull that average up a good deal higher than what you see around you. This results in a large number of people, over half of which earn less than the average. Do a web search, you will see that about $51k/yr ($25/hr) is the average. that doesn't mean most of the population makes near that amount in either direction. Average imo is a bad indicator of what most people earn. A statistic that the government and economists should report on is the Mode. You won't hear a politician speak about it because that number will be depressingly low, and they know there's nothing they can really do about it. Other websites state the same as the link below www.mybudget360.com/how-much-do-americans-earn-what-is-the-average-us-income/
AJFresh I'm tempted to call you "friend", eventhough we've never met, because it's so damn hard to find many other people on the internet that are in the same IQ bracket as me. So, thanks for being intelligent. It's a very welcome change to the norm. As far as economics, it's not really my forte' and you likely know more than me about that subject, but I am aware of everything that you are saying. My thoughts just don't always come out as clear as they could. I am aware of how it works though. I'll have to check out the link. I'm always for knowing more, about everything.
Well 22 dollars an hour is actually getting 44,000 dollars a year afrter5working 2000 hours, which isn't exactly a very high wage if you think about it.
WatermeIown there's so many there's literally no value. It's like a classic car. If it's a 4 door sedan from the 1950s I can buy one from a auto trader ad for 1k where nice examples of a 67-69 Camaro might start at 20k.
+D. Lyrium That's a bit ridiculous. With all the RUclipsrs out there, I'm positive you could find dozens of channels that spew out facts like Cracked of CGPG and see that there will be plenty of overlap on topics. But that doesn't mean the material is "poached." They are called facts for a reason. I'm positive there was someone in the 70's making fun of the US South's confederate flag-waving after the Civil Rights movement because that's not the actual confederate flag, and that person might've been smart enough to have opinions about the useless penny. That doesn't mean CGPG 'poached' those facts four decades later.
Vert343 At least the half penny was phased out. But we really need to lose the 1p and 2p coins. Actually we should lose the 5p coins as well. In fact the only reason coins exist in the UK is so that motorists can avoid the 30p “convenience fee” that they would otherwise pay when buying their parking ticket with one of those apps.
@@anthonydyer3939 As long as cash exists, those coins need to exist because it's possible that the amount of change someone needs to give you is an odd number
@@sharonefee1426 well Canada and Mexico as well as a number of central American countries have no pennies. Also other English language dominate countries like New Zealand and Australia have phased it out so, that leaves the UK and USA that have 1 cent coins and speak the target language. As the US has a much much larger audience it opts to use the US as an example.
First off, screw the penny. Now, what could the US do with the extra money? Nothing! There still isn't any extra money, we'd just be spending slightly less, which considering how wildly the US overspends would be good, but doesn't magically give us more money. Honestly, this nation is like a teenager with a credit card.
Derek Barnett 90% of our problems are from lobbying. Government is becoming more and more like a tribal village. The only way to survive is gaining favor of War Chiefs and elders.
wait wtf! Britain still uses the 1p coin alot and I guess by the smallest unit of currency you mean the half pence that was used around 30 years ago and removed, the 1p coin still costs alot more than 1p to make.
The penny & the tuppenny coin in the UK could become cheaper to make if they were in future made of aluminium & the 5p & 10p could then be made of copper.
Stop minting pennies, but don't remove them from currency. There are SO MANY pennies sitting around people's homes in jars - sometimes REALLY BIG jars - that need to be returned to circulation. If they all were, we probably wouldn't need to mint another penny EVER.
See we could just change what they’re made of and make it some synthetic material that looks like copper and bingo bango you got yourself a cheap penny.
That's what Canada did, they stopped minting but didn't cut it from circulation. They made stores return any penny they received to the mint to be melted and gave them the money back in bigger coins, or on cards. Once every penny now in circulation gets retuned and melted, they will officially kill the penny.
She didn't say Britain got rid of the penny, she said Britain is one of the countries "Who've all gotten[sic] rid of their smallest units of currency". 3:46 Way to support the statement made in the video, while trying to argue with it. She says lots of other dumb stuff in this video, but that isn't one of them.
Jon i know she said lowest denomination but it is still stupid for us in britain to make such a low denomination. although the 5p is now what everyone uses to pay for bags so 5p's are still useful but 1p's and 2p's are useless
As a Canadian, iI just assumed the states didn't have pennies anymore (like Canada) and I was really confused about this video until I saw this thread.
+Tom Parry-Jones Maybe she was referring to the half-penny which we phased out in 1984, as that then was our smallest measure of currency. She didn't specifically say we stopped minting and using pennies, just that we stopped using our smallest unit of currency.
It stopped 700 years ago. What you've really been carrying, is the tears of the poor. David Cameron has them frozen at subzero temperatures and then uses 15th century magic spells, to make them look like real coins
"average person makes $22/hour in 2012" factoid actualy just statistical error. Capitalist Georg, who lives in twelve mansions & makes $10 million per year, is an outlier adn should not have been counted
I remember that in 2012 I made 12 an hour 3 days a week that was a bad year and I still don't make 22 today which tells me she need to do better research
+Valter Östberg As CGP Grey says, "nobody owns the facts". But I agree that cracked is sometimes cheeky - I know of at least one "fact" in this video that is false - GB still uses pennies!!
Canada nickels are real nickle and are magnetic, because only two minerals other than iron are magnetic and one is nickel. Canada contained good deposits of that mineral therefore pure nickles. See if the the world in general had more intelligent humans versus dumbshits who just follow dumbshitery as you seem to, money wouldn't be so important
Our smallest denomination in New Zealand is 10 cents now. The 1c and 2c coins went bye bye in 1990, and the 5c coins died in 2006. The 10c coin will be the next to go. We also have the 50c, $1 and $2 coins, with the smallest bank note being $5.
Half penny doesn't count as we changed the value of money and money itself. Shilling and crowns too but have still had the penny right through my entire life (35 years)
CYBR Chemz, back when PoundLand was a "high-end retailer".... :P Also add to that list Australia, got rid of 1 cent and 2c coins many years ago and are considering dropping 5c
Cornelius McMuffin Well heck, who needs money at all? I just pay for everything with bits of string and pocket lint! But seriously the nickel is the new penny. It still has value for those that use cash, while the penny is actually costing the economy money. Souvenir coin machines will just be retrofitted to take tokens or slugs of some kind (or a larger currency, as someone said already with regard to Canada). Despite what has been said elsewhere, the larger face-value coins are normally cheaper than paper money in the long run because they last a few decades rather than only a few years. Everyone talks about a cashless society, but we're at least ten years (if not twenty or thirty) from that being feasible since currently you practically need to be middle class in order to function cashless. Plus... well a lot of boomers and GenXers will not give up cash anytime soon. Hell, I still get paid by check from boomers and GenXers. Full disclosure: I'm a GenXer myself. So take my comments with that in mind.
How about not devaluing the currency? Wouldn't that make more sense? The dollar today is worth the same as four pennies were worth in 1916. Inflation (i.e. printing money not backed by value) has robbed the dollar of its value, and the penny with it. Once the penny is gone, how long before the nickel is gone? The dime? The quarter? The dollar itself? After a while, you get to be Venezuela, where shop keepers don't even count money anymore, they weigh it.
ultimately a fiat currency unit is only worth the ratio between the number of units and the value of all assets held by the issuer. for a government issued currency that might include the assets/promises held/made by the citizens. i'm a hobby economist so maybe an expert can verify the second part of my comment.
TIL that zimbabwe had 100 trillion dollar notes just before their economy had to restart. the notes are selling quite well now if you can get your hands on one. there were only a million printed says one article.Johnathon Shakovitz
Thank God somebody out there understands that the penny is not the problem! The basic problem is that the gov'mt/fed res can print as much as they like thus devalueing what is already out in circulation. This is exactly why the founders tied lawful money to gold and silver. you cannot creat lawful money out of nothing.
may be if they are payed properly for what they poduce in the first place? if i make a porduct and a company sell"s it for say 100 $ should i not be paid enough to afford that product with in reason?
Rashawn Waiters How much is too much pay for you? Is there a point that you would be embarassed by how much you got? Most people don't have an upper limit. Think about that while you are defending the poor working man. He isn't as honorable as you may think. Produce more this year than you did last year, and you can honorabely ask for a raise.
Exactly. Exactly my friend. How many landscapers can afford landscaping. Or a house for that matter. How many tree trimmers can afford to hire a tree trimmer. Their is a fine line between being a free agent in the workforce and being a slave. Just because someone can choose their slave master does not mean they are free.
Scott Rex Mecham Freedom does not exist except in fantasy. All of us have restrictions on our freedom. Bill Gates is not able to do anything he wants, but yes, he has more options than I have. But this is far away from the original point; which was, what causes inflation. Stagnant production combined with rising overhead causes prices to rise. That undermines the buying power of currency.
I Found this out at the ripe old age of almost 10. Yes, I took 50 pennies to the machine first. Can you still get vending machine sodas for 50 cents anywhere in the US?
Or anywhere...I have a BA and I've never made over $18 an hour...and I haven't made more than $13 an hour since 2013 😭 college was the worst decision I've ever made.
+Free B sorry but I disagree. I was raised that you go to college to ensure you aren't working hard, manual labor, dead end jobs for the rest of your life. You can get jobs with just a HS diploma, college is so you can have a career that will let you live at least more comfortably than working a minimum wage or just above minimum wage job. And for ME, I'm on friggin food stamps WHILE working full time...having a degree (graphic design is not a degree that isn't supposed to earn you money) to ME means I shouldn't have to live this way. But it does have a lot to do with what happened to the economy, MY timing as opposed to the economic crash, and the location where I live. I wasn't expecting to get rich with a degree in graphic design, I was just expecting a job with benefits where I could live as a middle classer instead of barely making enough money for food. So again FOR ME a degree was a complete and utter waste of time and money. I would have been better off doing not going
+Free B actually, Yale did a study and discovered that Republicans scored higher on STEM tests. not the results liberals wanted to hear, so keep perpetuating your lie.
I didn't notice her mole until she bit the burrito and I thought it was a bean on her face, then the next scene the bean was still there and I thought, why is that bean still there?
Title of video: The Terrifying Reason Why Pennies Still Exist. Content of video: Reasons why pennies shouldn't exist. Totally different concept, and a waste of time for those who already knew why pennies shouldn't exist and were wondering why they still do.
Blake Reid ,thank you, criticizing her appearance she's better-looking than most women like they're perfect who the hell are they? Thank you for making a caring comment that's good to see especially here on RUclips where people are such pricks.
"And here's the creepy thing; Politicians know it's a waste." How is that in any way 'creepy'? Has the meaning of the word 'creepy' changed at some point in the last decade? Does it now mean, benign, expected, and explainable? I literally hear people calling nearly *everything* creepy now. What's the deal with it? I find it hard to believe that people are this easily frightened. And even if they were, surely it's not impressive to go round saying you're scared of everything? Personal example: My friend walks into a room, and a book falls off the shelf. My view on the situation: I assume the walking caused vibrations in the floorboards to be transmitted up the wall, into the shelf, and over time the book has worked closer and closer to the edge. Eventually far enough to tip off - Explainable with basic physics, boring, and logical. Nothing supernatural, evil, or frightening about it what so ever. My friend on the other hand: "Uhhhhh, that was creepy!"
+Say Goodnight Kevin Something Congress can't wrap their heads around, is that saving money somewhere, but still spending it somewhere else means YOU DIDN'T ACTUALLY SAVE ANY MONEY.
TubbY CoLe lol that may be true but its better to get rid of that 105 mill instead of adding to it we could take that 105 mill that we save now and use it to start paying off that debt
TubbY CoLe theres a million things like this in the government, pretty soon all those drops fill up the swimming pool full of shit that is the US debt, completely with slides and fountains and chaise lounges and all that shit
Except Canada still has the $X.99 in prices. Honestly it drives me insane that this still exists. Arghh also it's so cumbersome reading something and having to round up because 100th of a dollar doesn't matter.
+Amy Molnar (4NeonFun) It's mostly to trick the brain into making higher purchases. For some reason we seam to think that $9999.99 is way less than $10,000
We got rid of half pennies before I was born, but as far as I know getting rid of 1p and 2p has been talked about a lot but nothing has happened yet. Still making them as I had a nice shiny new one last time I was back home last year..
To Baqar Zaidi.. What u said this is really not nice! I am mom, Jakub it's my son and u must stop rite to my son, because your words it's very bad! Stop or I go on police! U understand?!!!!!
I think it would be more interesting if they make it so that you can still spend it but they just stop making it, so that when people find pennies they can still spend them anywhere.
I agree. We need to get rid of the penny. You missed one of the big reasons for the penny still being around though. Lincoln is on it. Sure he is also on the $5 bill, but people in Illinois don't want to see him go. I think not only the penny, but the nicked and the dime should go too. As you alluded to, nickles cost 6 cents to make, and are actually made of pure nickle, it is actually possible to make money by buying a crap load of nickles and melting them down into mettle, although it isn't exactly legal to do. The dime is fine, but if we get rid of the penny and nickle but leave the dine we have rounding issues. You can't make a quarter from dimes alone. Also, you didn't mention that the time it takes to get coin change in transactions isn't worth the cost of the coins. Most delivery businesses already round to the quarter anyway, since keeping change on drivers is too costly.
You would lose money smelting nickles. The costs involved to generate the heat would out weigh any marginal profit that could be made and that's before you even factor in transport of materials and other expenses
Vincent Beers It really depends on the quantity involved. I heard about a guy who bought $1,000,000 in nickles, with that many of them you could turn a profit.
I looked up the guy who bought $1,000,000 worth of nickels. And yes he "invested" in them believing that in the long run their smelt value might go up because he also believed that the nickel would soon be removed from circulation. Two things happened: the value of the metals didn't go up, it went back down. And the nickel was not removed from circulation. His investment had no growth factor. On the upside, his investment value was impossible to drop below it's initial costs. So as someone who could afford to put $1,000,000 into nickels, he lost nothing in the process (aside from the time it took to buy them all). He also never destroyed them, it was a situation where he was holding them for future profits in the event they were removed from circulation (which never happened) www.economicpolicyjournal.com/2011/11/man-who-bought-one-million-dollars.html His personal costs to smelt them would not have gained a profit with them still in circulation and at current market value of the metal. So, his purchase was a long term investment concept, not a short term smelting attempt.
Vincent Beers That's good information to have. Thank you for looking that up. I still think it should be taken out of circulation though, as well as the penny and the dime.
France hasn't cut the penny! If you make a video about such a topic please be informed. France is part of the EU and has the Euro. Its smallest unit is the cent. And cents don't need to be practical for paying. They have another purpose. Most prices for things are like 0.99, 5.99, etc. so it's just exchange money that you keep until you bring it to the bank (and the bank gives it back to the shops). These special price tags are made because of the psyche of the human brain. You are more likely to buy a product that costs 6.99 instead of one that costs 7 because the first number is more valuable for the psyche than the following ones even if the difference in price is just a penny. That's today's purpose of the penny to have a pretty small unit to make prices like that.
If people would make these presentations in a serious manner, without the off-handed senseless comical gestures in what is suppose to be a non comedic forum, they would be worth watching.
Well I've done the math about a year ago, and to my calculations, you make 5 times more picking up a penny in 1 second compared to working a minimum wage job for 1 second.
Gage Markham she's pointing out that it's "only" 8 million. Which is less than it should be, which makes pennies a waste, which is the point of the video.
The UK hasn''t stopped making 1p coins, there has been ONE year only that none have been produced (Last year), and that was only because there were enough in circulation anyway.
No point in keeping floppy disks? But, yes, there is. There's a market for vintage stuff, you know? Plus, we neeed to be able to read all the stuff that has been stored on this support.
Actually, 'scrapping the penny' would also involve 'scrapping the 0.01 value' from all sales. So, by 'scrapping the penny', you would drive ALL MERCHANTS to 'round up' all sales to the nearest nickel (0.05), where most sales do not fall on the random cent, but .01 to .03 above the '0.00 mark', you would drive not only sale prices to increase, but taxes, as a result, too. Estimating a 'forced increase' in price of EVERY SINGLE PURCHASE you make in a year (from a trip to the grocery store, to a bottle of soda, water or tea), you can estimate the average person makes three purchases a day, or about 1,000 transactions a year. Now, assuming a 'rounding up' for sake of dropping the penny, by an average of 0.03 per purchase, you are saying 'hey, it's more convenient to just give $30 to various vendors each year, than to have the penny around', you might want to tell that to my credit or debit card, which doesn't rely on copper, and can negotiate cents just as easily as nickels. Another rich-person foolish consideration, where we are already using a zinc-cent, not copper, anyhow.
Skeeter Saurus Additionally, most of our prices nowadays are intentionally dropped a few pennies below expected retail value, just to make them look considerably cheaper. Let's say an item is worth $10 retail. However, the item is shelved at $9.98, portraying a very effective form of psychological deception. This causes more purchases of the item compared to shelving it at $10, vastly making up the the 2¢ loss per purchase. This is why gas prices almost always have that 9 at the end. If we get rid of the penny, and prices are rounded up, a majority of them will simply be restored to their intended value. No more psychological gimmicks, no more being lied to in order to exploit a profit.
She says that Britain got rid of their smallest units of currency. And she’s right. But we didn’t get rid of the penny so that’s a misleading argument.
While the penny is a waste, $105 million on the scale of government spending is basically nothing.
+Charles Miller it can still be used on other sectors of the goverment
Kim Kalve Yes, but the question is, are there better fights to be had? Are there things that are much more wasteful which would be an easier and faster way of reducing wasteful spending?
The zinc lobby isn't the only force at work here. I think a bigger problem is that people hate change. And many Americans who don't understand we actually don't need the penny will likely fight this tooth and nail.
I mean, it is an American icon. And killing an American icon is something that many politicians don't want to be associated with.
I fully understand the case against the penny and agree with it. I just don't think trying to convince legislatures that this is an issue worth fighting for would be a good use of anyone's time. Not while there are many more pressing matters.
+Charles Miller Thats like saying spending 15-20 bucks a month for a magazine subscription you dont read is basically nothing. Yea its not a lot but your not gonna just say "Fuck it I dont need that."
+Charles Miller I think you're exaggerating the resistance... Here in Canada the penny died a quick, easy, simple death, and no one misses it.
I'm sure in America about the same thing would happen.
ImmoralJester Yeah, but the difference is, I don't need to convince the majority of 534 other people and literally create an act of congress to cancel a magazine subscription.
And if my willingness to save $20 is misconstrued I could lose my job.
Pennies literally trigger this girl. Doesn’t make much cents
This comment needs more attention
@@mysmirandam.6618 true
Well, I don't think it will make her *change.*
Hey-o!
Great way to coin a phrase there
of course it's pointless! it's round!
you can make puns
John Adam Johnson
I know! Mama would be so proud.... she passed last year....choked to death......on a worthless penny!!!!!!! PENNIES ARE PURE EVIL THE DEVILS MONEY I TOTALLY AGREE!!!!!!! DESTROY THEM ALL WHILE YOUR MOTHER'S ARE STILL ALIVE.........
John S hahaha!!!!!! Funny...funny.
John S my husband says the same thing pennies are the devil. I collect the little devils because I like to go to tourist shops or even amusement parks and smash them with the logo or a design. Also to teach our younger children how to save money and how to count, basic stuff.
Ayane's mom
lol XD
I'd use penny's more if vending machines accepted them.
Pay your speeding tickets with unwrapped pennies.
Consider the fact that the space used to hold the penies could be used to for more valuable coins? You're cutting into your profits that way. Also transporting/processing penies probably isn't worth the cost.
Ditto
You'd use Penny's what? Did you ask Penny if it was okay?
@@joshyoung1440 Have you *met* Penny? She's down.
Here in New Zealand we got rid of the 5 cent coin like ten years ago - now our smallest is the 10 cent coin. When paying by cash, if the cent ends in five or below, you pay the lower ten, if six or above, you pay the higher ten. Works pretty well!
Becky Howie Canada removed the Pennie but we still have 5 cents
Becky Howie sounds like some really bad inflation though. Like, dimes are literally your pennies. Or will be when machines automatically work in tens. Here in America it's the same trend though. I remember when a 20 can buy food for a week.
Let's just switch to global cryptocurrency. No minting.
No it doesn't. It drives inflation
Becky Howie
So basically just drop a decimal space. I dunno why anyone has to bother themselves with rounding after calculation instead of before.
"Thats 100 million we could put in our schools" yeah like thats going to happen.
Naw, that money is gonna go to something that won't benefit anyone else besides themselves xD
100 million that gets moved around until it can be laundered by some politician or business man..
Hopefully it becomes a tax cut or national debt payment
@@mantokaspiri5405 hahaha national debt payment
We all know it’d be go military
At no point in this video was I terrified...
Brendan Campbell that mole terrified me a bit
Cool Breeze ehhh
Shhhhhhhh
nice to mole-you....shit
Click bait
Here in Canada we have no pennies and as a cashier I’m very happy about it.
Psh…You just don’t get it.
Glad they're gone!
Who was making $22 an hour in 2012 & where'd y'all work?!
Brielle Dior I know right.......
Uber lol
Brielle Dior those on you tube.
"its called a education" you're a moron
Your username also speaks volumes
I don't even have a university degree and would have been getting about $40 an hour back then
Horrors! I've been *clickbaited!* Not only were there no *terrifying* reasons why pennies still exist, the video was all about why pennies should *not* exist.
Also not about penises.
I was clickbaited too, although they did give a reason for why pennies still exist, it was singular and not terrifying (maybe terrifyingly predictable as lobbyists are the reason we have most things we don't really need).
It's because of lobbiests, and businesses who are paying the lobbiests to keep their bottom line nice and black.
Never a better quote than "follow the money.", in this case it's pretty apt as well.
I don't know about the rest of you but I find lobbyists screwing the public to save their corporate masters money pretty terrifying. But I guess americans are so used to this they don't care anymore.
Lobbyists rule the freakin world! We need to bring to the attention more information about lobbyists and shame them in the public arena. First to go - the Jarden Corporation.
if you're looking in the comment section to find comments about the actual topic you're not gonna find it. 😕
I see
olivia chrest I douted you. I scrolled down. You were right. I was wrong. 😝
Thanks
As a stripper I sure would like less pennys thrown at me, that would be great.
Well, you gotta work for dem sheckles.
Well i don't like making it rain. I'd prefer to make it hail!!
That's what the chicken wire is for!
@@FullAuto737 a stripper is a real job🤦♀️
Dudes are all like, "I've got a roll of quarters for ya".... amiright?
There's so many pennies, we can stop making them and still use them. Pay your IRS taxes with pennies
Joe Nesvick the IRS has seen huge budget cuts and is having a hard enough time already. don't be a dick to them
This is why I started using emojis, seems nobody can tell when I'm kidding
Joe Nesvick yeah, not how it works.
haha fucking idiot thats literally what they want your bitch ass to think then you wont feel like your being rammed up the ass each time its tax season
Uh, UK still has pennies guys :/
But they don't still make them
yeah, but the UK got rid of its smallest currency unit, the half-penny (or ha'penny)
+TheGaragebandGuide Republic of Ireland has however gotten rid of cents. Think she's confused that with Britain
+lewaproductions Yes we do. There were over 480 million minted last year. I would give this year's stat but the royal mint website has not updated it yet.
+TheGaragebandGuide They aren't referring to modern British pennies (probably). In the UK we phased out the halfpenny in 1984. What they said was 'gotten rid of their *smallest units* of currency'.
Nice to mole you, nice to meet your mole. Don't say mole!
MOLLY MOLLY MOLLY MOLLY MOLLY MOLLY MOLLY MOLLY MOLLY!!!
+Bobby Newmark Lol! I couldn't help but think that too. #sorrygod
thought she had food on her face
+Bobby Newmark *pokes mole with stick* :)
guacaMOLEY
+jbanks4life Haha me to,
I didn't notice it till after she ate the burrito and then spent the next 30 seconds thinking why has she still got burrito on her face, till it zoomed in and I realized what it was.
If we stopped making the penny how could I stick my two cents in?
well obviously you would have to make it worth 5 cents.
*rimshot
First, even if we stopped making pennies, we would still have all of those old pennies.
Secondly, the phrase "my two cents worth" comes from a time when two cents was enough money to feed a family of four for a day.
Take the deficit on that nickel. That's the US for ya, debt-living reigns supreme
@@matthewwriter9539 not really, the etymology of the phrase "my two cents worth", has several possible origins, in early american gambling (in 1900's a penny then is around $0.30 today), or in connection to the origin of "penny for your thoughts" originates in england 1600-ish where a penny could potentially get a loaf of bread, or a beer, the earliest analogous use of "two coins of small value" would be in scripture, and the 2 coins (or pennies) mentioned there would have a referenced value today of 2-3 dollars. hardly enough, in either instance, to feed a family of four for a day
Your title is "The Terrifying Reason Why Pennies Still Exist" and you did not answer the question.
Corporate lobbyists.
Not exactly terrifying. More run of the mill graft.
Kenn Tollens she did. Because of the providers of the zinc in pennies paying lobbyist.
Kenn Tollens we should ditch the nickel and change the penny to steel like we did in 1943
currently a steel penny would also cost more than a penny to make.
Um, terrifying? “You Keep Using That Word, I Do Not Think It Means What You Think It Means”
I thought it said penis not pennies. smh. I was really fucking confused at the title.
Cool Breeze Haha, youre a little behind.. homophobia isnt cool anymore.
Stiflers Mom I don't need to educate myself if the word homophobia means exactly what I'm using it for.
ho·mo·pho·bi·a
ˌhōməˈfōbēə/
noun
dislike of or prejudice against homosexual people.
But yo gay ass still clicked
Cool Breeze yes it isnt
Wil Page Simpson shut up you copied from net fat ass
I call bullshit on the average American wage being $22. Where? Beverly Hills? Carmel?
I'm 35, and I think I only know 1 or 2 people in the 18-34 range that even makes close to that. I live in one of the top 3 most expensive states, and minimum wage is still under $9/hour. I live in a reasonably cheap apartment, but it's still $800/month.
There's WAY more people on minimum wage in this state, and this country, or at least making under $10/hour,than people making say $60/hour+, that there's no way in hell $22 is the average.
Then again, there are a few people that make $20k/week. Maybe it evens out for the now non-existant middle class in this country.
Blank Stairs you're omitting all of the doctors, lawyers, IT professionals, and business men of varying types, some of which make insane amounts of money
AJFresh I wasn't omitting anything. That's the $20k/week comment.
The problem is that a small group of higher income people pull that average up a good deal higher than what you see around you. This results in a large number of people, over half of which earn less than the average.
Do a web search, you will see that about $51k/yr ($25/hr) is the average. that doesn't mean most of the population makes near that amount in either direction. Average imo is a bad indicator of what most people earn. A statistic that the government and economists should report on is the Mode. You won't hear a politician speak about it because that number will be depressingly low, and they know there's nothing they can really do about it.
Other websites state the same as the link below
www.mybudget360.com/how-much-do-americans-earn-what-is-the-average-us-income/
AJFresh I'm tempted to call you "friend", eventhough we've never met, because it's so damn hard to find many other people on the internet that are in the same IQ bracket as me. So, thanks for being intelligent. It's a very welcome change to the norm.
As far as economics, it's not really my forte' and you likely know more than me about that subject, but I am aware of everything that you are saying.
My thoughts just don't always come out as clear as they could. I am aware of how it works though.
I'll have to check out the link. I'm always for knowing more, about everything.
Well 22 dollars an hour is actually getting 44,000 dollars a year afrter5working 2000 hours, which isn't exactly a very high wage if you think about it.
I like the message but her delivery is annoying, where is horton?
In the back office getting BJ's from actresses. You're watching the winner.
THIS IS #MAGA COUNTRY bruh stfu you 12 yr old
agreed
I'm saving my pennies for when they stop making them and in 50 years I can sell them and be out of debt by then
I have high hopes
Good luck
WatermeIown there's so many there's literally no value. It's like a classic car. If it's a 4 door sedan from the 1950s I can buy one from a auto trader ad for 1k where nice examples of a 67-69 Camaro might start at 20k.
WatermeIown im a do that too
Cameron St.laurent the ores the pennies are made out of though will make money
Girl got so much energy, now I feel tired.
lmao
wtf
squeaky voice...
I have an idea for the next "Cracked" video:
- Link to the original CGPGrey video
- End the video
+Felix Kovac Yeah, because CGPGrey is the only person who has ever argued that we get rid of the penny.
wow you know people have been making this same argument for years
who cares ?
+D. Lyrium That's a bit ridiculous. With all the RUclipsrs out there, I'm positive you could find dozens of channels that spew out facts like Cracked of CGPG and see that there will be plenty of overlap on topics. But that doesn't mean the material is "poached." They are called facts for a reason. I'm positive there was someone in the 70's making fun of the US South's confederate flag-waving after the Civil Rights movement because that's not the actual confederate flag, and that person might've been smart enough to have opinions about the useless penny. That doesn't mean CGPG 'poached' those facts four decades later.
+D. Lyrium I would agree with you 100% if CGPG's video about pennies hadn't been uploaded in 2011.
Hold up WTF? British here, 1p coins are still in service far and wide
Vert343 At least the half penny was phased out. But we really need to lose the 1p and 2p coins. Actually we should lose the 5p coins as well. In fact the only reason coins exist in the UK is so that motorists can avoid the 30p “convenience fee” that they would otherwise pay when buying their parking ticket with one of those apps.
@@anthonydyer3939 As long as cash exists, those coins need to exist because it's possible that the amount of change someone needs to give you is an odd number
@@gregoryboatswain1605 ...unless we just rounded up to the nearest tenth, in which case that wouldn't matter.
I'm not British, but she talked about the USA, cause apparntly, why not talk about a coin used in several countries as if it is only used only in one?
@@sharonefee1426 well Canada and Mexico as well as a number of central American countries have no pennies. Also other English language dominate countries like New Zealand and Australia have phased it out so, that leaves the UK and USA that have 1 cent coins and speak the target language. As the US has a much much larger audience it opts to use the US as an example.
First off, screw the penny.
Now, what could the US do with the extra money? Nothing! There still isn't any extra money, we'd just be spending slightly less, which considering how wildly the US overspends would be good, but doesn't magically give us more money. Honestly, this nation is like a teenager with a credit card.
Ban lobbying
Yautja sounds good to me.
Derek Barnett 90% of our problems are from lobbying. Government is becoming more and more like a tribal village. The only way to survive is gaining favor of War Chiefs and elders.
just wait for them to throw a temper tantrum.... oh wait...
I also like this comment
wait wtf! Britain still uses the 1p coin alot and I guess by the smallest unit of currency you mean the half pence that was used around 30 years ago and removed, the 1p coin still costs alot more than 1p to make.
Your average Brit & Whovian yeah and they have a steel core now as well like a lot of uk coins they allways get stuck on the magnet of my phone case
robuk1981 haha exactly the same! I sometimes pull my phone out of my pocket only to find a coin jammed between the magnet.
Your average Brit & Whovian I'm from the U.S so I have no idea what your talking about
Your average Brit & Whovian Maybe they stopped producing them but they're still lying around
The penny & the tuppenny coin in the UK could become cheaper to make if they were in future made of aluminium & the 5p & 10p could then be made of copper.
You didn't state the terrifying reason you promised.
She did, it was because big businesses have enough a hand in Congress to stop it from being removed, since it'd reduce their profits.
zinc providers fund pro penny lobbyists
Stop minting pennies, but don't remove them from currency. There are SO MANY pennies sitting around people's homes in jars - sometimes REALLY BIG jars - that need to be returned to circulation. If they all were, we probably wouldn't need to mint another penny EVER.
Michael Horn disagree with you their, but interesting idea and it'd save some problems.
And the reason they are sitting around in those jars is because they just aren’t worth dealing with.
See we could just change what they’re made of and make it some synthetic material that looks like copper and bingo bango you got yourself a cheap penny.
People are waiting for the penny not to be money so they can sell them for the copper.
That's what Canada did, they stopped minting but didn't cut it from circulation. They made stores return any penny they received to the mint to be melted and gave them the money back in bigger coins, or on cards. Once every penny now in circulation gets retuned and melted, they will officially kill the penny.
Holy Mole-y. Guaca-Mole-y. Where's my twig to touch it.
Skyebooo I appreciate the hell out of this
this comment wins the election
Nice to mole you.... meet... mole you.
Mole.
Mole-y mole-y mole-y mole.
You just typed what we were all thinking.
I'm not sure that's a mole, looks like a piercing from my end. it shines
"...average wage was $22 /hr..." wtf bullshit is that?
Anthony Lasalle hahaha right? isn't it 8?
David Ledesma No. They were right about the $22 thing. Most jobs that require a college degree will pay close to that.
theacp127 They should have said "The average salary for college degree jobs" then.
David Ledesma it's not like she said minimum wage.
sacredskunk ✋
Britain got rid of 1/2 pence coin in 1984, we still a 1 pence coin, so I'm not sure that mentioning Britain as an example is a particularly good one.
You don't have a £1 note. We waste billions of $ on those every year.
PS "have"
There used to be £1 notes and they were replaced by coins when their value decreased.
She didn't say Britain got rid of the penny, she said Britain is one of the countries "Who've all gotten[sic] rid of their smallest units of currency". 3:46
Way to support the statement made in the video, while trying to argue with it.
She says lots of other dumb stuff in this video, but that isn't one of them.
The US has gotten rid of their most worthless unit of currency before, too. The half-penny.
Back when it was worth about what a dime is today.
Jon i know she said lowest denomination but it is still stupid for us in britain to make such a low denomination. although the 5p is now what everyone uses to pay for bags so 5p's are still useful but 1p's and 2p's are useless
I'm from the UK. We stopped making the penny.
But we're still allowed to use them as a forum of currency so...
Yup... that's why we don't have them in Canada anymore.
+Romeo Cote I was wondering when someone was gonna bring that up. good!
Well... I mean they bring it up in the video.
As a Canadian, iI just assumed the states didn't have pennies anymore (like Canada) and I was really confused about this video until I saw this thread.
+Romeo Cote We have more money than we know what to do with. So we spend it on stupid stuff. Like pennies and football... and NASCAR.
+Romeo Cote I thought the reason was all your pennies are in the US
I didn't know the UK had stopped producing pennies and I live here!
That's because she's wrong.
That... would make sense. Such a shame, I really like the woman in this video. She's made some good stuff since joining the Cracked team.
+Tom Parry-Jones Maybe she was referring to the half-penny which we phased out in 1984, as that then was our smallest measure of currency. She didn't specifically say we stopped minting and using pennies, just that we stopped using our smallest unit of currency.
jhalpinable Thank you! Faith restored!
It stopped 700 years ago. What you've really been carrying, is the tears of the poor. David Cameron has them frozen at subzero temperatures and then uses 15th century magic spells, to make them look like real coins
Do you remember making 22 a hour in 2012? No.. me neither
Shit I was unemployed that whole damn year -_-
james melton same.
"average person makes $22/hour in 2012" factoid actualy just statistical error. Capitalist Georg, who lives in twelve mansions & makes $10 million per year, is an outlier adn should not have been counted
i don't make that now.
I remember that in 2012 I made 12 an hour 3 days a week that was a bad year and I still don't make 22 today which tells me she need to do better research
glue pennies to the floor and you can have decorative, durable flooring for pennies...makes cents.
Soon we can glue $100s to the wall for wallpaper. Like Germany 100 years ago.
I'll give you a nickel if you'll tickle my pickle.
That's why they are still valuable.
Pașca Alexandru lol
When do you want me over?
Tolethlera Kothusra lmao
average wage of 22$ and hour? WHAT WHERE? GIMME THAT JOB
right
Remember that includes CEOs of major companies that make millions of dollars a year
In the US the median wage is around 16.71 $, I think. Average wage has little useful information.
+sir zophiel to be fair, I visited and everything in America is fucking cheap, I could live there on half my current salary.
+Nixfi Wait the median wage is 16.71 an hour and they want to make the minimum 15? WTF?
Don't let the Penny Plunderer know!
Sean Hecker Of course!
+Sean Hecker Scott said they inspired him, at least a tad.
EATFOOD ! True story.
+NerdSync Mad respect for those who can even remember the Penny Plunderer.
Don't worry I doubt he can hear after the whole giant penny crushing him. Seriously that's a dark origin for an iconic trophy.
Normally I'd appreciate the spontaneous burritos in my pennies but I just had my wisdom teeth out and now I want what I cannot have.
Didn't CGPGrey make a video about pennies a while back? Kinda like he did with the confederate flag?
+Valter Östberg How ironic.
Yeah years ago
+Valter Östberg As CGP Grey says, "nobody owns the facts". But I agree that cracked is sometimes cheeky - I know of at least one "fact" in this video that is false - GB still uses pennies!!
+Valter Östberg I thought I saw a vid on this a while back... I think you are right.
Martin Halsall
Actually they said smaller currencies, are you sure it's not something smaller then the penny that GB removed?
Here in Canada we got rid of the penny a few years ago. Best thing we ever did. Nickel should go next
Canada nickels are real nickle and are magnetic, because only two minerals other than iron are magnetic and one is nickel. Canada contained good deposits of that mineral therefore pure nickles. See if the the world in general had more intelligent humans versus dumbshits who just follow dumbshitery as you seem to, money wouldn't be so important
77 us cents are worth 1 Canada dollar.
We got rid of the half-penny and the farthing. We still have the penny.
lol, camel balls
Lizzy Putnam The reason to keep the penny.
Gary Quan
I'm looking up farthing, if it exists, thanks for the learning experience cause I NEVER heard of such a currency. It even sounds funny
The U.S. never minted a farthing. We did, however, mint a half-cent coin until 1857.
It's an old English coin from pre-decimalisation in 1971.
What I still have 1p and I am in the UK. UK still has penny's.
She said smallest units of currency. We got rid of the 1/2 penny in 1984 ;-)
Our smallest denomination in New Zealand is 10 cents now.
The 1c and 2c coins went bye bye in 1990, and the 5c coins died in 2006.
The 10c coin will be the next to go.
We also have the 50c, $1 and $2 coins, with the smallest bank note being $5.
Half penny doesn't count as we changed the value of money and money itself. Shilling and crowns too but have still had the penny right through my entire life (35 years)
Wait... the uk had *half* pennies?
CYBR Chemz, back when PoundLand was a "high-end retailer".... :P
Also add to that list Australia, got rid of 1 cent and 2c coins many years ago and are considering dropping 5c
But what am I going to put into the penny crushing machine at the amusement park now? ;-)
In Canada, you put in a nickel instead
cl3mb0t
Why not get rid of coins no one uses at all. Like nickels. I've payed with pennies before, but who even uses nickels or dimes?
Cornelius McMuffin I've been given nickels and dimes before to pay for certain things, like an extra 25¢ when they didn't have a quarter
Cornelius McMuffin
Well heck, who needs money at all? I just pay for everything with bits of string and pocket lint!
But seriously the nickel is the new penny. It still has value for those that use cash, while the penny is actually costing the economy money.
Souvenir coin machines will just be retrofitted to take tokens or slugs of some kind (or a larger currency, as someone said already with regard to Canada).
Despite what has been said elsewhere, the larger face-value coins are normally cheaper than paper money in the long run because they last a few decades rather than only a few years. Everyone talks about a cashless society, but we're at least ten years (if not twenty or thirty) from that being feasible since currently you practically need to be middle class in order to function cashless. Plus... well a lot of boomers and GenXers will not give up cash anytime soon. Hell, I still get paid by check from boomers and GenXers.
Full disclosure: I'm a GenXer myself. So take my comments with that in mind.
cl3mb0t you can use dimes they are about the same size as pennies
I'm British and we still have the penny! #1p #2016
Incognito She said they have gotten rid of their smallest currency not specifically the penny
Chrisshady Productions The penny is our (UK) smallest currency. You have to travel back 100 years or so to see the *half penny*.
Incognito Yeah dumbass that's what she's talking about
Chrisshady Productions She was talking about PENNIES. Don't call me a dumb ass you inbred douche jerk idiot!
in-bread?
Am I the only one first read "the terrifying reason why penis still exist"?
The feminist channel xD
David Ji yes the penis exists because it was to expensive to make and it makes American economy worse!!!😂😂😂
Understand the argument. Didn't like the presentation.
It's also not a very good argument
She is pretty maudlin.
C. Shabaiash- "maudlin", good word...
Watch cgp grey's argument about the penny. Way more interesting than *her*
Her voice hurts me
its pretty fucked up that most of the comments are talking about her appearance than the actual topic... society makes me want to go crazy sometimes
Chris Walton same.
Then don't read the fucking comments
YO VILLE KILL fuck you
Chris Walton am yet to see one comment on her appearance...
***** then you havnt read the comments
How about not devaluing the currency? Wouldn't that make more sense? The dollar today is worth the same as four pennies were worth in 1916. Inflation (i.e. printing money not backed by value) has robbed the dollar of its value, and the penny with it. Once the penny is gone, how long before the nickel is gone? The dime? The quarter? The dollar itself? After a while, you get to be Venezuela, where shop keepers don't even count money anymore, they weigh it.
ultimately a fiat currency unit is only worth the ratio between the number of units and the value of all assets held by the issuer. for a government issued currency that might include the assets/promises held/made by the citizens.
i'm a hobby economist so maybe an expert can verify the second part of my comment.
in vietnam they have 100000 dollar notes
TIL that zimbabwe had 100 trillion dollar notes just before their economy had to restart. the notes are selling quite well now if you can get your hands on one. there were only a million printed says one article.Johnathon Shakovitz
+*Ananta* *Sesa* *das* Interesting! thanks for sharing
Thank God somebody out there understands that the penny is not the problem! The basic problem is that the gov'mt/fed res can print as much as they like thus devalueing what is already out in circulation. This is exactly why the founders tied lawful money to gold and silver. you cannot creat lawful money out of nothing.
I live in Britain and we still have pennies.
half pennies about thirty years ago
You don't still make them though, you just still use them, which is what america should do.
I'm pretty sure that we do still make them. I've certainly got some very shiny, new pennies in my wallet right now!
+Tavia Merritt I found a 2016 penny I'm sure of it
Pretty sure she was said the smallest currency. Aka shilling. Those things got kicked out ages ago
Every cent you find on the ground adds up lol.
At no point watching this video was I terrified.
I believe the focus should be on why inflation is rendering elements of our currency as worthless.
People want a pay raise every year even though they don't produce more. Prices have to go up, then people people scream for another pay raise...
may be if they are payed properly for what they poduce in the first place? if i make a porduct and a company sell"s it for say 100 $ should i not be paid enough to afford that product with in reason?
Rashawn Waiters
How much is too much pay for you? Is there a point that you would be embarassed by how much you got? Most people don't have an upper limit. Think about that while you are defending the poor working man. He isn't as honorable as you may think. Produce more this year than you did last year, and you can honorabely ask for a raise.
Exactly. Exactly my friend. How many landscapers can afford landscaping. Or a house for that matter. How many tree trimmers can afford to hire a tree trimmer. Their is a fine line between being a free agent in the workforce and being a slave. Just because someone can choose their slave master does not mean they are free.
Scott Rex Mecham
Freedom does not exist except in fantasy. All of us have restrictions on our freedom. Bill Gates is not able to do anything he wants, but yes, he has more options than I have. But this is far away from the original point; which was, what causes inflation. Stagnant production combined with rising overhead causes prices to rise. That undermines the buying power of currency.
You can't use pennies in a vending machine which is stupid.
If we keep them we should at least be able to use them for something.
I Found this out at the ripe old age of almost 10. Yes, I took 50 pennies to the machine first. Can you still get vending machine sodas for 50 cents anywhere in the US?
Inside of a Castco you can get soda's for 50 cents and 18 Oz waters for 25. :D
SonofRiggnarok Yesss
got a redbull for 5 cents before from a vending machine
I love how you included evidence along with your findings in the video with sources.
$22 an hour? Yeah, good luck finding a decent job that pays that much in Ohio.
Or anywhere...I have a BA and I've never made over $18 an hour...and I haven't made more than $13 an hour since 2013 😭 college was the worst decision I've ever made.
it says average across the u.s. so $8 somewhere and $50 else where evens out.
+Free B sorry but I disagree. I was raised that you go to college to ensure you aren't working hard, manual labor, dead end jobs for the rest of your life. You can get jobs with just a HS diploma, college is so you can have a career that will let you live at least more comfortably than working a minimum wage or just above minimum wage job. And for ME, I'm on friggin food stamps WHILE working full time...having a degree (graphic design is not a degree that isn't supposed to earn you money) to ME means I shouldn't have to live this way. But it does have a lot to do with what happened to the economy, MY timing as opposed to the economic crash, and the location where I live. I wasn't expecting to get rich with a degree in graphic design, I was just expecting a job with benefits where I could live as a middle classer instead of barely making enough money for food. So again FOR ME a degree was a complete and utter waste of time and money. I would have been better off doing not going
+Free B actually, Yale did a study and discovered that Republicans scored higher on STEM tests. not the results liberals wanted to hear, so keep perpetuating your lie.
+Free B well you could say every degree is for making money, but not for you, for the college you were convinced to take for it am I right?
Trump should build his wall with the pennies
Original Digital this is stupid and will never happen but I still said "hey that's a good idea"
yes, and make the illegals provide the labor before theyre deported!!
I fucking love your profile pic and name.
Mexicans would loot the wall away
I don't like this lady. I feel like I'm being attacked.
JPxKillz She seems bitchy.. bitchier than me, even, which is impossible.
Wa wa
I didn't notice her mole until she bit the burrito and I thought it was a bean on her face, then the next scene the bean was still there and I thought, why is that bean still there?
Title of video: The Terrifying Reason Why Pennies Still Exist.
Content of video: Reasons why pennies shouldn't exist.
Totally different concept, and a waste of time for those who already knew why pennies shouldn't exist and were wondering why they still do.
Tasteful Tuna thank you also some of the shit she said is wrong some countries listed still use pennies.
Thanks for saving my time. Fuck clickbait.
Tasteful Tuna thanks
She does at 2:27
Not really. It's not "the terrifying reason" so much as "a weak excuse".
After only four-and-a-half years, I am a quarter of the way to my goal of collecting $100 in pennies... just for the hell of it.
*So many rude people in the comments*
.....shutup
honestly... so much hate...
Cool Breeze get off the internet kid
Blake Reid ,thank you, criticizing her appearance she's better-looking than most women like they're perfect who the hell are they? Thank you for making a caring comment that's good to see especially here on RUclips where people are such pricks.
They're keeping it so they can tag the "some dollars and 99 cents" label on the items in the stores!
I think you forgot to tell us the terrifying reason pennies still exist. Are the pennies used to summon Chthulu or something?
Good ol' clickbait.
"And here's the creepy thing; Politicians know it's a waste." How is that in any way 'creepy'?
Has the meaning of the word 'creepy' changed at some point in the last decade? Does it now mean, benign, expected, and explainable?
I literally hear people calling nearly *everything* creepy now. What's the deal with it?
I find it hard to believe that people are this easily frightened. And even if they were, surely it's not impressive to go round saying you're scared of everything?
Personal example: My friend walks into a room, and a book falls off the shelf.
My view on the situation: I assume the walking caused vibrations in the floorboards to be transmitted up the wall, into the shelf, and over time the book has worked closer and closer to the edge. Eventually far enough to tip off - Explainable with basic physics, boring, and logical. Nothing supernatural, evil, or frightening about it what so ever.
My friend on the other hand: "Uhhhhh, that was creepy!"
We could let the tax payer KEEP that money! Imagine that!
You'd all get like 30c each? Uh huh.
+Say Goodnight Kevin You beat me to it.
+Say Goodnight Kevin Goodnight, Kevin.
+Say Goodnight Kevin Something Congress can't wrap their heads around, is that saving money somewhere, but still spending it somewhere else means YOU DIDN'T ACTUALLY SAVE ANY MONEY.
+daclyde Well they would have spent it anyway, so at least it cuts down on the deficit. Slightly.
The UK still has and uses the penny in 2021.
Just goes to show that people need to check stuff rather than blindly accept what others say. 🙄
lol 105 mill. not even a drop in the buck when it comes to the national debt
TubbY CoLe lol that may be true but its better to get rid of that 105 mill instead of adding to it we could take that 105 mill that we save now and use it to start paying off that debt
$105 million is only 32 cents per U.S. citizen... per year. It's not nearly as big a problem as she makes it out to be
HIllDog spent more on adds
TubbY CoLe theres a million things like this in the government, pretty soon all those drops fill up the swimming pool full of shit that is the US debt, completely with slides and fountains and chaise lounges and all that shit
It's also completely offset by the seignorage profit on the dime and quarter.
Lots of people have gotten rid of the penny and a rounded everything to 5. Best part of it? No more $X.99. Yes.
Except Canada still has the $X.99 in prices. Honestly it drives me insane that this still exists. Arghh also it's so cumbersome reading something and having to round up because 100th of a dollar doesn't matter.
+Amy Molnar (4NeonFun) It's mostly to trick the brain into making higher purchases. For some reason we seam to think that $9999.99 is way less than $10,000
NZ's smallest coin is 10cents and everything is priced at $X.X9c.
...$X.95.
+DANtheMANofSIPA In Israel we don't even have a 0.05 we have a 0.10, and they still do the 99 crap...
let's melt down the zinc, alloy it, and build shelters for the homeless
it would only cost pennies to so as well. lol
+motts2roc good one lol
Or give them jobs for melting down pennies so they can buy a small home or rent an apartment. Or collecting those pennies too. Boom job opportunity!
Thats against the law though..
time to collect all the pennies to make them a rare collective's item on *EBAY*
Dosent the uk still have pennies. (goes to check pocket) Yep.
Leah Cubston she said smallest denomination
Yeah, her segue was a little confusing
Is this suppose to be a sad joke
We got rid of half pennies before I was born, but as far as I know getting rid of 1p and 2p has been talked about a lot but nothing has happened yet. Still making them as I had a nice shiny new one last time I was back home last year..
So technically we did get rid of our smallest denomination, just ages ago before decimalisation
England still has the penny. And Europe still has the 1 cent Euro.
But she said they fazed out the smallest amount, and we did used to have the half penny...
Canada no longer makes pennys FUCKERS!!!!!!!
AHAHAHA
im so lonely....
Rampster27 pennies
jakub rembacz Yo dude I never wrote that.
To Baqar Zaidi.. What u said this is really not nice! I am mom, Jakub it's my son and u must stop rite to my son, because your words it's very bad! Stop or I go on police! U understand?!!!!!
Have you found your chin yet, Calvin?
Throwing an obscenity into your comment is a cowardly way to assert your point
I think it would be more interesting if they make it so that you can still spend it but they just stop making it, so that when people find pennies they can still spend them anywhere.
I agree. We need to get rid of the penny. You missed one of the big reasons for the penny still being around though. Lincoln is on it. Sure he is also on the $5 bill, but people in Illinois don't want to see him go. I think not only the penny, but the nicked and the dime should go too. As you alluded to, nickles cost 6 cents to make, and are actually made of pure nickle, it is actually possible to make money by buying a crap load of nickles and melting them down into mettle, although it isn't exactly legal to do. The dime is fine, but if we get rid of the penny and nickle but leave the dine we have rounding issues. You can't make a quarter from dimes alone. Also, you didn't mention that the time it takes to get coin change in transactions isn't worth the cost of the coins. Most delivery businesses already round to the quarter anyway, since keeping change on drivers is too costly.
You would lose money smelting nickles. The costs involved to generate the heat would out weigh any marginal profit that could be made and that's before you even factor in transport of materials and other expenses
Vincent Beers It really depends on the quantity involved. I heard about a guy who bought $1,000,000 in nickles, with that many of them you could turn a profit.
I looked up the guy who bought $1,000,000 worth of nickels. And yes he "invested" in them believing that in the long run their smelt value might go up because he also believed that the nickel would soon be removed from circulation.
Two things happened: the value of the metals didn't go up, it went back down. And the nickel was not removed from circulation. His investment had no growth factor.
On the upside, his investment value was impossible to drop below it's initial costs. So as someone who could afford to put $1,000,000 into nickels, he lost nothing in the process (aside from the time it took to buy them all).
He also never destroyed them, it was a situation where he was holding them for future profits in the event they were removed from circulation (which never happened)
www.economicpolicyjournal.com/2011/11/man-who-bought-one-million-dollars.html
His personal costs to smelt them would not have gained a profit with them still in circulation and at current market value of the metal.
So, his purchase was a long term investment concept, not a short term smelting attempt.
Vincent Beers That's good information to have. Thank you for looking that up. I still think it should be taken out of circulation though, as well as the penny and the dime.
Mitch Burns i agree with u totally no president should be on both the penny and the 5$bill
France hasn't cut the penny! If you make a video about such a topic please be informed. France is part of the EU and has the Euro. Its smallest unit is the cent. And cents don't need to be practical for paying. They have another purpose. Most prices for things are like 0.99, 5.99, etc. so it's just exchange money that you keep until you bring it to the bank (and the bank gives it back to the shops). These special price tags are made because of the psyche of the human brain. You are more likely to buy a product that costs 6.99 instead of one that costs 7 because the first number is more valuable for the psyche than the following ones even if the difference in price is just a penny. That's today's purpose of the penny to have a pretty small unit to make prices like that.
The dutch don't use one and two cent coins anymore. She must have confused those two countries.
I prefer Chipotle's bowls. Their burritos always fall apart on me halfway thru. The bowl's more efficient.
Everyone gets the bowls. The burritos are balled up mush.
I disagree, you're just eating the burrito wrong.
It helps if you peel the aluminum off the burrito as you eat it, rather than taking it all of at once
Get more food too
If people would make these presentations in a serious manner, without the off-handed senseless comical gestures in what is suppose to be a non comedic forum, they would be worth watching.
These comments are deep.....smh. Barely anything about pennies....
What do you mean deep? Deep could mean deep into the topic of pennies or deep into irrelevant things.
MischievousMoo Says barely anything about pennies so the latter.
VINE IS DEEEAAADDD!!!!!!!!!!
The Frank's Tank no shit Sherlock
and its shiiiiiiiit
Ah, my favorite news source. The Internet Explorer Times!
You like heathers and hamilton so you are a good person
The Frank's Tank yeah but it doesnt mean we cant watch it just because no one likes it anymore doesnt mean you cant like it
did anyone else misread and think it said penises?
No
+Damian Sour yes
+Damian Sour No, but now I'm imagining what that video would be like...
kingkong381 ya i was thinking it would be an amusing feminist video
Who didn't
Carrot on a stick model says . . .
If you manage to take a bite out of the carrot . . .
you will still have people chasing whatever remains ! ! !
You're just mad cause your real name is Penny .
She needs a visit from Uncle Buck.
uncle buck?
I was thinking the same thing. It was distracting seeing that thing by her mouth.
Do you mean Buck Melanoma, Moley Russel's Wart ?
Well I've done the math about a year ago, and to my calculations, you make 5 times more picking up a penny in 1 second compared to working a minimum wage job for 1 second.
dainbulldog1 who needs a job when you can pick up pennies for the rest of your life lmao
Yeah, you need to pick up a penny at least every 5 seconds and then you can live like shit. You would be putting forth less effort in a min wage job.
dainbulldog1 no thx babe
tax free too haaaha
dainbulldog1 no pennies are worthless.
in 2020 a burping vine- the NOSTALGIA that that brought me
She's still got some left over burrito by her lip...
+Vbbv22 BAHAHAHA
That's just mean
+Vbbv22 Nope, just a face berry...staring at you
cringe
+Vbbv22 looks like she eats a few extra burritos too
I missed read the title into something else :|
Lololol
omg! i did too! lmao
+Nicole Pruitt what did you read?
I misheard "floppy discs"
+alex gooslin firstly, it was a joke, and secondly, I said 'misheard' not 'misread' - have you watched the video?
Umm... What? 8 million pennies are now 8 million dollars? This video makes no sense
CashewKing15 she said 8 billion not 8 million
shes still wrong though, 8 billion pennies is 80 million dollars
Gage Markham she's pointing out that it's "only" 8 million. Which is less than it should be, which makes pennies a waste, which is the point of the video.
smh
Miguel Borja- If pennies didn't exist, what would you do if someone asked for 11 cents
The UK hasn''t stopped making 1p coins, there has been ONE year only that none have been produced (Last year), and that was only because there were enough in circulation anyway.
Sparkle sparkle sparkle?
FUCK YEAH SPARKLE SPARKLE SPARKLE!!!
?
Not the time dude it's too random of a meme.
Fuck yeah. Sparkle Sparkle Sparkle
I can tell this will be a productive thread...
*mute*
She needs that thing on her face removed...
+EvilJ069 Gah, I keep staring at it
+EvilJ069 Thats just a birth mark. I didn;t even notice until I read your comment.
+EvilJ069 she should save up her pennies to have that removed.
Why? It's her face. She can do whatever she wants
Rpp Wing Just an opinion, don't get your panties twisted
I live in the UK and we still use pennies
Clare Doherty she said we got rid of our smallest denomination. That was the half penny, which is no longer in use.
America had half pennies to wtf
No point in keeping floppy disks?
But, yes, there is. There's a market for vintage stuff, you know?
Plus, we neeed to be able to read all the stuff that has been stored on this support.
Actually, 'scrapping the penny' would also involve 'scrapping the 0.01 value' from all sales. So, by 'scrapping the penny', you would drive ALL MERCHANTS to 'round up' all sales to the nearest nickel (0.05), where most sales do not fall on the random cent, but .01 to .03 above the '0.00 mark', you would drive not only sale prices to increase, but taxes, as a result, too. Estimating a 'forced increase' in price of EVERY SINGLE PURCHASE you make in a year (from a trip to the grocery store, to a bottle of soda, water or tea), you can estimate the average person makes three purchases a day, or about 1,000 transactions a year. Now, assuming a 'rounding up' for sake of dropping the penny, by an average of 0.03 per purchase, you are saying 'hey, it's more convenient to just give $30 to various vendors each year, than to have the penny around', you might want to tell that to my credit or debit card, which doesn't rely on copper, and can negotiate cents just as easily as nickels. Another rich-person foolish consideration, where we are already using a zinc-cent, not copper, anyhow.
Skeeter Saurus You didn't finish watching the video did you.
Skeeter Saurus Additionally, most of our prices nowadays are intentionally dropped a few pennies below expected retail value, just to make them look considerably cheaper. Let's say an item is worth $10 retail. However, the item is shelved at $9.98, portraying a very effective form of psychological deception. This causes more purchases of the item compared to shelving it at $10, vastly making up the the 2¢ loss per purchase. This is why gas prices almost always have that 9 at the end. If we get rid of the penny, and prices are rounded up, a majority of them will simply be restored to their intended value. No more psychological gimmicks, no more being lied to in order to exploit a profit.
I don't link the idea of gas going up 5 or 10 cents at one time.
tyler pfaffe *face palm*
Pffft, if you don't want your pennies give them to me. I'll gladly take your money
She says that Britain got rid of their smallest units of currency. And she’s right. But we didn’t get rid of the penny so that’s a misleading argument.