KUSA - Maybe it's because women tend to carry big handbags or over-sized wallets, but a new study from Investor Pulse suggests women think the penny is still worth having while men think the penny has outlived its purpose.
The study is a part of a 1,200 investor survey asking if the US penny should stay or go. More than half of the women surveyed think the penny should stick around, but 62 percent of men think it's now the penny of the past.
There were even more surprises on which age groups support the penny. Not surprising, people older than 60 still like having pennies in their pockets. Interestingly, it was not the young who are ready to go pennyless, but the middle-aged group.
Investor Pulse from Spectrem's Millionaire Corner is fielded each month to approximately 1,200 investors. A set of questions, which changes monthly, is asked regarding interesting topical issues. The resulting research is analyzed and segmented by: age, gender, household net worth, retirement plan ownership, occupation, investment risk tolerance, marital status, investment knowledge, household income. Spectrem's Millionaire Corner conducts the survey through an online panel and specifically targets selected wealth segments. The survey is completed by the person primarily responsible for making the day-to-day financial decisions within the household.