Pennies are not even worth what they’re worth. So why do we still make them?
Why don’t you take about refugees and the Paris attacks John? It’s oddly convenient that you happen to talk about pennies than the dangerous refugee, and Muslim threat that threatens western society as we know it. Keep up with these pointless topics John Cuck Oliver, while people continue to die to “peaceful” Muslim, and stand on your high horse of “tolerance” of murder, rape, torture, and oppression.
I always round up at the gas pump. #deathtopennies
eliminating the penny is going to make products costs’ go up. Businesses are driven to make money at maximum profit.
Here in Canada, we got rid of the penny. We just keep it for debit and credit purchases and round up the rest. Or round down, but most cashes luckily do it for you XD. But hey, you don’t need to keep the penny, and if you do still like them, just collect the old ones!
I don’t keep any coin less than a quarter.
…That’s M. Night Shamlayan’s job *REKT*
Interesting fact about the whole ”rounding the price in the customer’s favor” part at 3:30, that’s not really how we do things in Canada now, we’re doing it a little bit worse. We round to the closest number. If something cost 5.32$, it will ultimately cost 5.30$. But if it costs 5.33$, it will round up to 5.35$. If you guys start rounding down all the time, that would probably be better from a customer’s standpoint. Would be interesting to see.
I always pick up a penny I find.
You showed a bike shop that rounded down to the nearest nickel. Fine. How many businesses do you think are going to be willing to do the same? Walmart I can guarantee is always going to round it up. Your change is 2.01? They’ll charge 2.05, which doesn’t sound like a lot, 4 cents, but when they do it over and over again, all day, to every customer, they are pocketing millions of dollars that they are not entitled to. Honestly, if you make dozens of cash transactions every month, and they steal up to four pennies each time, you think it’s nothing, but it adds up. FAST. We need to curtail inflation, set the currency value higher, not rid ourselves of the penny. OR, end cash transactions entirely, and use nothing but debit or credit and give a lot of extra power to banks. Bad ideas all the way around.
Listen up: What if we made the penny worth two cents? Eh?
Anyone else read “penises”
damn this is short
In Brazil, we’ve extinguished the 1-cent coin. That’s good but you’re more likely to get less change than you should. I never complained about it because it’s just one or two cents but I know people who have complained and that’s reasonable, too.
What’s a nickel cost to make? Isn’t that the alternative to the penny??
I’m in those 2% who throws them away. I thought that percentage was higher. Penny sucks
I’m a local Charlotte resident, and actually the story about the UNCC student who paid his fine with pennies was actually quite effective. Sure, it’s a dick move to those 2 employees (who are hourly, so it really doesn’t matter), but his actions brought the problems of the UNCC parking services to the attention of the local populous, which actually generated a small change in policy.
I appreciate your humor, but please, either do your research more fully next time, or don’t be a jerk talking out your ass. :)
The best thing: when the half-penny was dropped, it had more purchasing power than the penny does now
You’ve been handling my ass-pennies, for years!
It doesn’t make sense to eliminate the penny because businesses aren’t going to round their prices down. Prices will definitely go up. The dollar may get devalued by President Obama, but removing the penny should not be a way for companies to round up and create inflation.
When are you gonna make a video about the military industry and the economic system? People need to know what wars and most conflict in the world is about…
but if you pick a penny up all day long you’ll have good luck 🙁 oh well lucks kinda useless anyway
we could make the penny to equal 2 cents.
Cringe-worthy shoulder-brushes. That is all.
I’m not a fan of price rounding- does anyone think merchants will round down without a penny? No, I don’t go up to a store with a roll of pennies to try to make a purchase, having the extra few cents in my pocket has always deemed helpful when I am in line at the grocery store.
John Green can’t agree more.
well they could just stop making so many pennies, or stop making then completely, and continue to use those in circulation until they fade off
Pennies are important to the poor, its what keeps low income families from becoming homeless and keeping the homeless from starving to death. Its the rich who don’t give a shit about pennies.
Thanks for this amazing show. Can’t wait for the next season !
In Canada we got rid of the penny, and my reaction was, “Why don’t we get rid of nickels and dimes too?” It really is a waste of government money, and has almost no worth in modern times.
The penny has been gone for a while, and I don’t miss it.
I throw away my pennies in hopes that it will feed an African someday…
I may not be willing to pick up pennies from the sidewalk, but when you look at it from a business perspective – Businesses aren’t going to set their prices in a way that rounds down, without the penny businesses would start rounding prices up. Food for thought.
Smart: Collect a lot of pennies and then exchange it at the penny machine for money(if your state provides penny machines).
Stupid: Throw pennies away.
Honest, and probably dumb question, but why does the penny still exist in countries that use the Euro if all of them, at least in my experience, include sales tax in the sticker price? Would sales really be hurt that much i they rounded off the sticker price to the nearest €0.05?
I love u john oliver
Spending money on what we don’t need is the American way.
I seriously hate the 1 euro-cent. The 2 euro-cent is something I rarely use but honestly, the lowest currency needed is 5 cents.
Grocery stores and convenience stores already work on the margin of a couple cents…eliminating this will surely cause them to round the prices up.
I shouldn’t have been drinking anything when he got to the M. Night Shyamalan joke. Great stuff, as always.
running out of ideas now are we????
I’m not the only one here that actually picks up Penny’s right lol
There’s bigger fish to fry…
Be like Canada and get rid of them
first time I’ve ever disagreed with this show. Muppets kick ass.
Canada already got rid of pennies, if America wants to get out of dept they need to stop making pennies altogether.
The problem with shows like “Last Week Tonight” is that they often don’t do enough to show the two sides of an argument. John Oliver doesn’t bother to mention that it actually costs 7 cents to make a nickel. Further, the notion that most businesses will “round down” to the nearest nickel isn’t even close to realistic. His attempt to demonstrate this by anecdotally employing a local store called “Mike’s Bikes” is actually kind of embarrassing. Problems like these are present in a lot of Last Week Tonight’s bits.
Drop the penny, and while we’re at it, America, adopt the metric system. And the world will rejoice.
Pennies are definitely not worth my time to pick up
I actually make money with the penny because no one wants them. Seriously, just go to everyone you know and ask for their pennies, and to give you any penny they find in the future, they will do it because they think they’re worthless. The money will end up adding up to at least getting you a few extra dollars which is actually pretty nice.
John Oliver should’ve had John Green on the show, he too wants to get rid of the penny.
The problem with rounding is sales tax. You not only have state taxes, but many cities add a little bit of tax on sales as well. So the state may add 6 cents to a dollar, a city may add 1 or even 1.5 cents to a dollar. If rounding is OK, who is going to take the hit? The business who loses a few cents on the dollar to round down to a dollar? Oh wait, if the business rounds a one dollar item down to 94 cents, the tax may no longer be 6 cents. Confused? yes, I am. :)
I’m fairly certain the only time I’ve used a penny in the last decade is to scratch off Steam cards and then they get chucked off the balcony.
I like the Muppets. :(
Saw the title and immediately went “omg yeah, eliminate the penny!”
I still pick up and dig through dirt for pennies even tho I can’t use them here in Canada. Canadian tire money on the other hand I leave or just throw the garbage.
This is cgp gray material
Just before I moved here from Canada, pennies were discontinued. TAKE A HINT!
Wasteful government spending is a long standing American pride. It just makes cents to us.
For the same time it takes you to bend over to pick the penny, you make more money compared to minimum wage.
if we get rid of our pennies, how will i give my two cents?
John Green would love this.
I hate pennies… That is all
we have the same problem with nickles.
Am I helping? XD
Panamanian here, since the US invaded our country and took our currency away, we also use the US dollar as currency now, and even I throw away pennies.
CGP Grey did it better, IMO
The same conversation happened in Canada, 99% didn’t give a fuck, but 1% of the population was outspokenly pro penny. We got rid of the penny, and it was never mentioned again…
everytime i watch your show, i feel good to be in canada
Why don’t we just get rid of the penny and start producing Lincoln dollar coins? Make the first $5 coin and put his face on it. Given what he did the fact that he’s on the smallest, most menial coin possible is kind of saddening.
we have the same problem in Euro zone. Some countries are leaving 1 and 2 cent production.
Get rid of your pennies and send them to me!!!!!! I think they would make a good piece of artwork.
Fuck pennies. The only reason why I still encounter them is because freaking Germans get upset when the Aldi doesn’t hand them the exact change they’re owed, and I happen to live just over the German-Dutch border (which means lots of Germans around here). Most supermarkets here don’t hand pennies over anymore, though.
The day we dump the penny is the day my collection of then useless copper coins get stashed away in a vault for my family’s future generations. The idea being that, after several decades or more where the coin is no longer in circulation, those pennies appreciate in value to the point that coin collectors would scramble for them. Granted, it would probably be more realistic to expect such value after perhaps a century or two. However, who is to say my nation will last that long? Or, better still, that our planet will last that long?
Wow this whole topic was stolen from CGPgrays video.
Those idiots are at at school. Its pretty sad that people who work at a college can’t figure out to weigh the pennies then divide the total -the buckets weight by 2.5g which is what a penny weighs then you have the # of pennies
I used to think John Oliver was somehow speaking the truth. But this video and the one on Syrian Refugees just shows he’s a paid puppet for the 1% propaganda machine.
The simplest solution to the pennies not being worth what they are is to reduce inflation. Its like stock splitting except your stock combining. But the 1% doesn’t like this option because they conglomerate banks generate wealth by just making money out of thin air and spending their wealth before the inflation has a chance to trickle down into the economy and cause inflation. This of course means the peasants shoulder the burden of inflation which actually means they are just giving 2%(average inflation increase per year) of their wealth to rich people who basically contribute nothing to society.
I pick up all of the pennies.
When they discontinued the half penny in 1857, it was worth 13 cents in today’s money. So we should really just round everything to the nearest dime
i regularly throw pennies in the garbage
Guy Fieri is a fucking blessing you fuck.
oliver really feeling the brush off
I mean, what’s a nickel cost to make, isn’t that the alternative to the penny?
Somewhere out there, John Green is greatly pleased
Holy shit, John mentionned reddit… this will be intense
if I could pay parking meters with pennies that would be nice.
Pennies will be useful after a Fallout scenario. Free zinc for galvanizing iron.
James Rolfe, John green, CGP Grey now John Oliver
Enjoyed the video as a coin dealer and one of the largest metal detecting channels on YouTube. No one likes post 1981 pennies and calls them “Stinkin’ Zincoln’s”. They are made out of zinc crap, and after being in the ground a few years they literally start to deteriorate. Doesn’t make any cents why you would produce a coin you take a loss on. I feel bad for nickels though. They stand to be the new underdog!
I throw away pennies. They are worthless. And Have been FOR YEARS.
I mostly agree with you about almost everything you talk about (not everything), but The Muppets is great. I do not think it is the best it can be yet, but there are very few shows that are great I their first season.
0.005 (Half penny) in 1857 was worth 0.14 in today’s dollars, when they rendered it obsolete. I think we should get rid of everything besides quarters and get dollar and two dollar coins
pennies? current year
Nerdfighters have been saying this for years! DFTBA!
canada gets rid of the penny yet i still see the damn things in my register every day. even the bank gives them to us like they’re legitimate tender. if canada doesn’t need them, and we’re still holding on to the penny, would it save money to import and circulate canadian pennies amongst our own?
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