THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, May 20, 1995 TAG: 9505190008
SECTION: FRONT PAGE: A14 EDITION: FINAL
TYPE: Letter
LENGTH: Short : 29 lines
It is commendable our federal government wants to save money by revamping our coinage. One of the coins suggested for elimination is the lowly penny. It is conceived the coin is costly to mint, will not purchase anything anymore and usually is packed in jars and ``piggy-banks'' with other Lincolns until a decent accumulation makes it worth the time for a trip to the bank. The government has a good argument for once.
But I have a few thoughts about the penny. If the copper coin is eliminated, a purchase of 98 cents or 99 cents would cost a dollar. Our state sales tax would have to be rounded off to 5 cents and forget the present increments. For example, a purchase of 56 cents plus tax would have to be 60 cents instead of the present 59 cents. Loosing the lowly penny could total up to a lot of money over a period of time. Just imagine, without the copper coin we would have to give a ``nickel for one's thoughts.''
L. NEALE CLIFTON
Portsmouth, May 12, 1995 by CNB