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What Is Your Opinion On Ending The US Penny?

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 Posted 01/02/2017  09:49 am  Show Profile   Bookmark this reply Add jpsned to your friends list
My opinion is that it would be bad for the hobby. Many kids start coin collecting by buying Lincoln Penny folders and have fun filling them up. Without the penny in our midst, many potential future collectors would not be born.
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 Posted 01/02/2017  10:53 am  Show Profile   Bookmark this reply Add Conder101 to your friends list

Quote:

Quote:
Quote:
No need to stop cents from circulating. They will disappear from circulation on their own.


Yeah, In about 100 years !

More like one to two years.
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 Posted 01/06/2017  02:57 am  Show Profile   Bookmark this reply Add Illegaltender to your friends list
Aside from my CRH, I have no use for pennies, nor does anybody else. Get rid of it already. Also, we could have 95% copper collector pennies then, and maybe the shield cent could even go away.
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 Posted 01/06/2017  1:55 pm  Show Profile   Bookmark this reply Add n9jig to your friends list
If they stop making the cent for circulation (and they should) it should also be removed from Mint and Proof sets. These are supposed to be representative of the current circulating coinage.
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 Posted 01/06/2017  2:45 pm  Show Profile   Bookmark this reply Add jbuck to your friends list
I like your line of thought there, Illegaltender.


Quote:
If they stop making the cent for circulation (and they should) it should also be removed from Mint and Proof sets. These are supposed to be representative of the current circulating coinage.
So what about the half dollar and dollar coins? They should go, too, as both are NIFC.
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 Posted 01/06/2017  2:50 pm  Show Profile   Bookmark this reply Add moxking to your friends list
If you only include circulating coins in the Proof and/or Mint sets that would equal a sad and lonely Roosevelt next to a run of multi-personality quarters.
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 Posted 01/06/2017  3:07 pm  Show Profile   Bookmark this reply Add LibertyEagle20 to your friends list
If they stopped minting pennies (or cents as most call them), do you think they would be hoarded out of circulation? There's still a good amount of copper out there and those haven't been made in over 30 yrs!
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 Posted 01/06/2017  3:28 pm  Show Profile   Bookmark this reply Add trout1105 to your friends list

Quote:
If they stop making the cent for circulation (and they should) it should also be removed from Mint and Proof sets. These are supposed to be representative of the current circulating coinage.


With only the four different denominations commonly being used in commerce in the US at the moment getting rid of the cent will leave only the 5c, 10c and 25c coins because the 50c and Dollar coins seldom get used.
No wonder some fear the removal of the Dollar paper note because if there was No Dollar note then if you bought something for 25c using a $5 note (If that is possible) you would end up with 19 Quarters in change
As a non American looking in I find it rather strange that the 50c and Dollar coins are not being used because at the moment the coins being carried around in the US have very little buying power and are pretty much just an annoyance as the 5c, 10c and 20c coins here in Aus are.
Maybe it is just too confusing to have 4 different coins circulating in the US and getting rid of the cent may ease that confusion
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 Posted 01/06/2017  4:45 pm  Show Profile   Bookmark this reply Add jbuck to your friends list

Quote:
If they stopped minting pennies (or cents as most call them), do you think they would be hoarded out of circulation?
That is part of it, but the major force removing them from circulation is their disposable nature. Use once, toss aside (and that often means into the trash).


Quote:
With only the four different denominations commonly being used in commerce in the US at the moment getting rid of the cent will leave only the 5c, 10c and 25c coins because the 50c and Dollar coins seldom get used.
If the one dollar note is nixed, the dollar coins will automatically circulate. They are only NIFC by default. Large scale production should resume once the dollar note is removed and the billions of dollar coins on-hand are distributed.
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 Posted 01/06/2017  4:48 pm  Show Profile   Bookmark this reply Add trout1105 to your friends list

Quote:
If the one dollar note is nixed, the dollar coins will automatically circulate. They are only NIFC by default. Large scale production should resume once the dollar note is removed and the billions of dollar coins on-hand are distributed.


Maybe then the Halves may become more popular and used again in commerce
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 Posted 01/06/2017  4:59 pm  Show Profile   Bookmark this reply Add jbuck to your friends list
One would hope so, but we might have to shrink them first.

To be honest, I do not see them getting used much more unless we kill the nickel as well. Having no nickel makes the quarter problematic and the half dollar even more useful.
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 Posted 01/07/2017  08:17 am  Show Profile   Bookmark this reply Add n9jig to your friends list
Going back to Mint Sets and Proof Sets, I think the halves and dollars should be removed and dropped altogether unless they are actually made for circulation that year. They don't include other commemorative and special design coins in the annual sets, these should not be there either.

Like myself and others have said many times:

The penny will not be killed off any time soon.
The dollar coin will never be well used unless and until they kill off the paper dollar.
If you kill off the nickel too then the quarter needs to be replaced with a 20 cent piece or (better yet) eliminated altogether and a reduced size half dollar introduced.

My ideal situation short of revaluing the dollar would be a dime, half (smaller) and dollar coin (smaller) with paper bills of $5, $10, $20 and $100. This would serve commerce well.

For the designs have even years with a combination of Lincoln, Jefferson and Roosevelt on the 3 remaining coins obverses, in odd years have Washington, Kennedy and Sacagawea. Reverse images can also rotate.

This is all moot anyway since the politicians can't agree on any of the substantive issues, much less the fairly mundane ones. The next major change to our change will be its elimination.
Edited by n9jig
01/07/2017 08:56 am
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 Posted 01/07/2017  10:53 pm  Show Profile   Bookmark this reply Add Illegaltender to your friends list
I actually think, (not to get political), The upcoming administration could help to eliminate the penny. The president elect does not seem to care about what people think, and that includes the zinc lobbyists. I also suspect that it will be at least 30-40 years before we see the last of the nickel. Also, the half dollar will never circulate again in it's current form. It's simply too big for Americas tastes.
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 Posted 01/07/2017  11:48 pm  Show Profile   Bookmark this reply Add crazyforATB to your friends list
I actually get excited thinking about the cent going away, its going to be fun trying to get your hands on the last remaining ones. kinda like when I see a canadien cent now its more exciting.
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