To Hell with Pennies

In the New York Times (link), William Safire argues persuasively for a long-overdue bit of currency reform: discontinuing the penny.

I couldn't agree more. Pennies are a bother and an absurdity in today's world. They pile up, filling jars and tins and gathering dust. They are useless in commerce; just about every store has one of those "leave-a-penny, take-a-penny" dishes by the cash register.

Unfortunately, as Safire points out, pennies are made of zinc, and there's a very powerful zinc lobby. The Ivory Madonna doubts that Congress will abolish the penny soon (if ever).

If Congress won't act, we must take the situation into our own hands. The Ivory Madonna has taken to telling clerks to keep pennies in the till; if her change is, say, $2.67, she'll hand back the two pennies with a distasteful-but-ladylike frown. She is contemplating taking the next step: handing the clerk extra pennies to exchange on a nickel. For example, if her change is $2.98, she may hand the clerk 2 additional pennies and say, "May I please have a nickel?"

If we all do this, then pennies will pile up in bank vaults until there is a crisis. And then, Congress will act.

M.

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The Ivory Madonna's story is told in Dance for the Ivory Madonna by Don Sakers.