Topic: What can you buy with 0.01 cents (1 penny) ? - page 2. (Read 718 times)

goods are now more expensive than before and we won't be able to use a penny to buy goods anymore. It can only be used when you buy a certain type of goods but there are odd numbers there. then you need to use a few penny to pay enough.

Every cents are important, it depends on the country if the value of that 0.01 cents are really high enough to but a certain thing. You can't buy things that you want with that amount of money, so every time you get a 0.01 cents, save it so that you can pursue the things that you want to buy. Do not underestimate the power of a 0.01 cents, because it can be huge enough every time you save it in your wallet. There are a lot of things that are necessary and much more important once you save that amount of money, you just need to be patient because a 0.01 cents have still a value even if it is small enough to buy a product. Money can grow once you save it.

Yes i know that kind of food and i think its fishball that worth 0.01 usd but you said if convert in our currency in php is it 50 centavos per piece.  Yes if we back in old days we can buy something in just a penny.  Yeah there is no much thing that can buy with a penny .  Lets collect more penny and use it for the future.

But the coins in your account comes from your past purchases right? So technically you're not buying it for a cent. A cent can't buy any thing now, the value of products now are increasing due to inflation.

I guess we should call cennot or cen't since it can't buy any thing anymore haha lol

That is a rare event, promo days or clearance but on a clear weather day your cent is just a decoration in your account.

Back then it could possibly buy a candy or two, I reminisce how low the price way back then I could have a snack with just 0.2USD

Well due to inflation, I don't think you can buy anything with cents, maybe in other countries but in my country, you can rarely buy anything.  If I convert 0.01 USD in our own currency which is PHP, the only thing that comes to mind is a single piece of street food that can usually be bought with 1php per 2 pieces.

In the old days, you can buy things with that value but right now, I don't know. Things are getting expensive day by day so I doubt that there is any, especially in my country. But if you will use the highest currency in the world which is KWD (I just searched it in google), and converts 0.01 in my country's currency, I will be able to buy candy with it.

Why do you ask this question? Are you trying to compare it with satoshi (smallest fraction of bitcoin)? If that’s the case they are both similar, you can’t buy anything with the both of them. Though there is a level that bitcoin might reach and we will be able to buy something reasonable with the smallest amount of it, but it’s going to take a really long time.

There used to be times when you can buy things with cents, and these are mostly biscuits, candies and stuffs like that. But, just as the economy continues to fall, all those things are now costly and you can no longer buy them with pennies, you need something more than that.

I am sure about smallest fraction of bitcoin is going to get its buying power in near future. Some people already speculated about it like 1 satoshi may value one dollar or at least 1 cent. It may happen after a decade but we need to understand that bitcoin's smallest fraction is going to get its buying power whereas currency's smallest fractions had already lost its significance.

@spy100 the short and simple answer is yes you can yet buy stuff with $0.01, but after seeing what was available for $0.01 I have decided to pass the opportunity to buy those items, however if you do make a purchase then do post here as I’m keen to find out which item were you able to purchase with your small fortune. Lastly I’m posting couple of informative links below that I feel will help you make an informed choice, so feel free to check them out.

Links:

https://www.dailydot.com/debug/cheapest-things-on-amazon-one-cent/

https://www.techwalla.com/articles/how-to-find-items-on-ebay-for-one-cent

In my country, I don't think I can buy something unless I buy a large quantity at a wholesale.. or maybe I could only buy a single screw from some shop otherwise, the only things I've ever found that cost $0.01 were useless things from Chinese websites.

If there was anything useful for that price besides plastic bags and screws, they'd probably be out of stock constantly.

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TIL the S$10,000 banknote is the most valuable one in the world! Insane when you look at the difference between the cost of production and the so-called "value" of the produced paper. Unfortunately, most people trust the paper more than they'd trust a gold investment.

Yes but it's just a logical trick ...to get the 0.1 kwh you have to connect to the grid (costs money) ,then you pay electricity bill even if you don't use electricity in some areas
To get the 4 dogecoins you got to convert 0.01 usd to crypto , you got to pay trading fees etc ... ( Even if you use a faucet it's not 0.01 (fiat) ,your converting crypto to crypto ,not fiat to crypto )
What is the minimum gasoline you can buy at the pump in Venezuela ? ( 1 liter ,1 gram ...10 liters etc ) i suspect they don't allow you to buy 0.5 liters at the pump

0.01 USD in my country can be used to buy telephone credit up to 8 USD, and In Singapore, 0.01 USD can be worth 10000 SGD or the equivalent of 7128 USD.

All can be done with magic seigniorage. The use of a currency without intrinsic value or guaranteed by gold will make the illusion of a piece of paper something of value. Which initially only greasing the transaction becomes something valuable and must be protected.

https://www.creditsesame.com/wp-content/uploads/2012/05/12.03.29-Penny-to-Paper-How-Much-Does-It-Cost-to-Make-US-Currency.png

You can get items on Aliexpress for 1 cent in two different ways:

1. You pay the product with their coins, plus 1 cent (taking into account that their coins are free, you're literally buying it for 1 cent).
2. Every day they raffle many products as freebies: you can choose 2 freebies daily and if you have the chance they ask you to pay 1 cent for it.

It may seem difficult to win, but I've already won like 5 or 6 items in the last year alone this way (a pair of bands for my smartwatch, some shorts for running, a usb charger for my smartwatch, a LEGO (not the real one but almost equal) and more I can't recall now.

I hope it helps

0.01€ used to be the price of a plastic shopping bag in some cheap stores. However, plastic bags are now banned in my country so you can't buy even that. The price of an eco-friendly shopping bag is now 0.05€ 

I don't really think you can buy anything with that few mony. Some people even want to stop minting 0.01€ coins for this very reason.

Good one. I was having trouble thinking of anything besides a 1 cent stamp from the post office.

Here's a fun fact. It costs the US mint significantly more than a penny to produce a penny. They're losing $50-60 million a year manufacturing pennies that people can barely spend.

https://www.forbes.com/sites/timworstall/2014/09/19/amazingly-the-us-mint-loses-money-on-making-money/#3792bae21d03

You mean 1 cent, right?

In de US, it should buy you about 0.1 kWh, which is enough electricity to power a 200 lm LED lamp for 24 hours.
In Venezuela, it gets you half a liter of gasoline, which is enough to drive a car several kilometers/miles.
Online, you can buy 4 Dogecoin.

There's nothing you can buy with a centavo here unfortunately. Long gone are the days wherein one can buy a special nutri-bun for 5 cents, and boy that was a damn big bread when compared to today's standards.

Cents and pennies are just figures which huge establishments care about since they get a large sum of unclaimed penny/cents changes from their customers. Like here in the Philippines, most people do not bother about cents anymore since they are literally worthless, and even small shops won't accept them anymore even if you managed to get a dollar or two from those cents. However in the case of huge establishments, these unclaimed cents are vital since they are racking up those cents into dollars and into big figures. It might not seem much to us regular people but for huge establishments such as grocery stores and the likes, it's worth a ton in the long run.

A error i found with money and humans is that we don't have a good memory ,we can't record much data in our brains ... for example try to remember with details what you did 2 hours ago ,7 hours ago ,then try to remember what you did yesterday ... or on September the 15th 2005 ... if you remember  then you are some sort of savant ...99.9999% of world population can't ...

The big corporations know this also

Can you remember what was the price for a bread 2 years ago ? You can't do to fact there are so many types of bread , bread is not that important in your life ...

This is one of the ways how they screw us ....

If you payed 1 penny +  £2 for delivery that means the product cost you  £2.01  ...so it still not a penny ...

 

Just a penny alone? Here I doubt you could buy anything without negotiation. If you find something cheap in a supermarket that's about to go out of date you might be able to ask but then that comes down more to how you convey yourself. You can certainly by fractions of liquid quantities if served or save the penny in a stock or something .

Pennies and cents are a "carry forward" of the years gone by where you could buy sweets, a lolly or biscuits for a penny. You can buy much more with a relationship (even one built over the course of 30 seconds, than you can with a penny in one of these countries imo).

Edit: I just remembered buying a cd for a penny from a marketplace (obviously paying £2 for delivery) but it WAS a penny in raw form and I could've collected and just paid the penny.

What can you buy with 0.01 cents (usd) ?

Can you buy anything with a penny ?

Same question for other fiat currencies (Can you buy anything with 0.01 eur / 0.01 aud / 0.01 cad / ... ?)


https://www.youtube.com/watch?v=tfvMxfW_gG8

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We could make money with pennies ... we would need someone that we can trust to manage the pennies for us

For example nobody can deposit in a bank 0.01 cents and get interest ,or you can't buy a stock ,btc or other cryptos with 1 penny

But imagine if 1000000 people join together in a pool and each user has to deposit 1 penny each month for 30 years ,if he does not deposit he will loses his pennies /investment

And after 500 years his grate grate grandson or granddaughter is allowed to withdraw if he has the secret code you gave your son / daughter etc ,if no one claims the money it will be distributed among others investors grate grate grand children or how ever you decide that you want to get that money ...You will make them rich beyond their wildest dreams ...with compound interest and just some pennies
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here is another one idea...we are brainstorming 

Let's say 1000000 people join in a pool and they deposit 1 penny / week each year for 10 years
The fund manager does one thing only: he buys physical gold,and stores it in a safe place,and gives gold to people after 10 years
Let's say gold price increases by 7% each year
Year 1
576000 usd / 55.62 usd / g 24k = 10355.98 g of 24k Gold
Year 2
576000 usd / 59.52 usd / g 24k = 9677.41 g of 24k Gold
Year 3
576000 usd / 63.68 usd / g 24k = 9045.22 g of 24k Gold
Year 4
576000 usd / 68.13 usd / g 24k = 8454.42 g of 24k Gold
Year 5
576000 usd / 72.89 usd / g 24k = 7902.31 g of 24k Gold
Year 6
576000 usd / 77.99 usd / g 24k = 7385.56 g of 24k Gold
Year 7
576000 usd / 83.44 usd / g 24k = 6903.16 g of 24k Gold
Year 8
576000 usd / 89.28 usd / g 24k = 6451.61 g of 24k Gold
Year 9
576000 usd / 95.52 usd / g 24k = 6030.15 g of 24k Gold
Year 10
576000 usd / 102.20 usd / g 24k = 5636 g of 24k Gold

Total gold in 10 years = 77841.82 g of 24k Gold (77.84182 kg)

That means at the end each person has 0.07784182 g 24k Gold

In year 11 price is 109.354 usd /g of 24k Gold that means you get 8.51 USD(without managing fees) on your investment of 4.8 usd