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The E-Sylum:  Volume 9, Number 27, July 2, 2006, Article 41

PITY THE POOR CENT

The Oroville Mercury Register of Northern California published an
Associated Press story noting the opinions of Californians on the
possible phaseout of the cent. Robert Hoge of the American
Numismatic Society was also quoted.

"The idea of phasing out the penny is a good call," said Bill Souza,
proprietor of Souza's Liquors in Oakland. "Pennies are not taken
seriously anymore. They're a pain to deal with. I say that both as
a private citizen and as a retailer.

"I was recently in New York City and all the vendors in Times Square
have all their merchandise rounded out to the nearest dollar, nickel
or quarter," he said. "It's time to get rid of the penny because
it's not valued."

Then there's Adam Lavine, chief executive of FunMobility in Livermore,
who said he didn't "like the idea of the economy done in units of
five. There is something unlucky about that."

"Yesterday I was taking my 5-year-old daughter to the fountain in
San Ramon where she threw in 10 pennies. We have an emotional and
cultural attachment to pennies," Lavine noted."

To read the complete article, see: Full Story

An E-Sylum reader forwarded a similar story on the same theme,
also from Associated Press.  This one interviews Dave Harper,
editor of Numismatic News and New York dealer Tony Terranova,
and opens with a quote from a person in Massachusetts.

"Today it's a joke. It's outlived its usefulness," says Tony
Terranova, a New York City coin dealer who paid $437,000 for a
1792 penny prototype in what is believed to be the denomination's
highest auction price.

"Most people find them annoying when they get them in change,"
he adds. "I've seen people get pennies in change and actually
throw them on the floor."

To read the complete article, see: Full Story

  Wayne Homren, Editor

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