“Round Down” Penny Protest in Concord Remembered by Time MagazineApril 25th, 2012 by Al Lewis (alewis)
Time Magazine fondly recalled our penny protest in Concord in last week’s issue
It wasn’t the lead story but, hey, it was three years ago and people still remember it.
For those of you new to the blog, a number of merchants refused to accept pennies at all, agreeing to round transactions down to the nearest nickel, in order to speed checkout lines and reduce handling costs. We were able to show these merchants that it costs more than a penny to handle a penny, and that by not handling pennies at all, they saved money.
We need to collect all those pennies to raise money for ALS. Otherwise pennies are litter. How do we know they’re litter? Well, they are indestructable, and yet the mint needs to make 4-billion new ones each year to replace the ones ending up inside coffee cans, vacuum cleaners and the occasional toddler.