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 Replies: 28 / Views: 3,720 |
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Bedrock of the Community
United States
11951 Posts |
Not sure why some ..will group everyone into their line of thinking.
To say that no one likes the cent ... Is a over statement.
If everyone did not like the cent, then the government would
get rid of it.
I like the cent. I like collecting them, and I have no problem
using them in purchases. I feel there are just as many people
that like them as those that don't like them.
In my experience, people that don't like something, will voice their
opinion more often.
Also I wonder why there are so many negative post about getting rid
Of cents .. Nickels ... Dollar bills and modern quarters. In a forum about collecting the same.
In a forum like this I would hope to see mostly post about what you
like. There is a good chance our younger collectors collect,
Lincoln cents, modern quarters .. Well all modern coins.
What do the young collectors think when there are so many
negative post ...about the very coins they are collecting?
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Moderator
 United States
188660 Posts |
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If we got rid of Cents this subforum would evaporate. You give the modern shield cent way too much credit.  Quote:
If everyone did not like the cent, then the government would get rid of it. Not true. The only reason they still make the cent is a powerful zinc lobby. That is all. If that lobby went away, so would the cents. Legislators know that the treasury loses money on cents. However, when it comes to money, their pockets come first, then the treasury. Remember, the problem with the cent is not one of being liked or disliked, it is the fact that inflation has made them irrelevant and we lose over 100 million dollars a year just to make them.  |
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Pillar of the Community
United States
1476 Posts |
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The only reason they still make the cent is a powerful zinc lobby. If this is the case then I think they will have to up their game a bit if the rumors are true about the shortages of zinc predicted. I think I read something about it on Kitco or somewhere similar. Can't remember for sure though. 
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Pillar of the Community
United States
1132 Posts |
You only hear about people wanting to abolish the cent because those of us that enjoy it don't have anything to complain about. If the cent did go the way of the dinosaurs, those people who are (relentlessly) voicing their disdain for it would undoubtedly roll their eyes the same way I do when yet another thread surfaces regarding the topic.  On the bright side...now that it's out of the way this month I probably won't roll my eyes again until May. Edited by CopperCastle
04/13/2015 8:05 pm
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Pillar of the Community
United States
1795 Posts |
The money that our government wastes is nothing to what they loose on making the cent. So all that BS about waste means nothing unless they (gov't.) cleans up their act. Then I can see them addressing the cost of making the cent.
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Pillar of the Community
Sweden
1078 Posts |
I think I have a pretty interesting stand in this 'debate'.
Here in Sweden there's no such thing as a penny, or one hundred of a currency unit either any longer (the 'Öre'). We lost our last Öre piece in October 2010 and ever since we've been rounding whole Kronas up or down. Here's how it works: It works! Most people here realize it's not too much to be bothered about. And a swedish krona is approx. 15 US cents.
As mentioned in the video: "sometimes people round up and it would hurt the consumers".
A single penny or nickel hasn't made too much difference in the past - so why should it suddenly matter now? If a retailer rounds wrongly to the nickel, the biggest loss for a customer would be 4 cents only. People are arguing for that to be a problem. If rounding would work correctly, then there would be no actual loss nor gain for both parties.
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Bedrock of the Community
United Kingdom
17943 Posts |
In the late 1960s the French 1-centime piece had approximately the same purchasing power that one US cent has today - I remember a postage stamp costing 45 centimes. When the coin started costing more than its face value to produce, the mint simply stopped making them, except for collectors' uncirculated sets. The coin was never demonetised (until France joined the Euro) but it gradually disappeared: retailers started pricing most of their goods in multiples of 5 centimes, and even where items were priced to the nearest centime, shops seldom gave them in change after the mid-1970s. In 1976, when I was studying in France, I often bought candy bars from a particular shop where they were sold for 1.08F. About half the times I went there I was given centime coins in change (often one of the old aluminium 2F coins issued from 1941-59), but otherwise I was just given change to the nearest 10c. Why not just let the penny die gradually like the French did with the centime?
Edited by NumisRob
04/14/2015 03:14 am
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Bedrock of the Community
United States
19952 Posts |
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Not true. The only reason they still make the cent is a powerful zinc lobby. That is all. If that lobby went away, so would the cents. Legislators know that the treasury loses money on cents. However, when it comes to money, their pockets come first, then the treasury.
Remember, the problem with the cent is not one of being liked or disliked, it is the fact that inflation has made them irrelevant and we lose over 100 million dollars a year just to make them.  Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Moderator
United States
188660 Posts |
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The money that our government wastes is nothing to what they loose on making the cent. So all that BS about waste means nothing unless they (gov't.) cleans up their act. Just because the government wastes a billion dollars on something else does not justify them wasting 100 million dollars on cents.  Waste is waste. Trust me, in other forums I rail on them for the waste relevant to that venue. However, this is a numismatic forum. So my job here is to point where the government wastes money on the worthless one cent coin and equally worthless one dollar notes.  |
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Valued Member
Canada
261 Posts |
The retail lobby in Canada had a strong voice when it came to deciding the pennies fate, I'm a little surprised they don't have more clout than the zinc lobby in the US. And the RCM has never been concerned with what the public "wants" otherwise we never would have gotten the Loonie. As a collector (sometimes hoarder) I miss the cent a little, it was always fun to find a George VI or an occasional LWC in my change. As a consumer I can understand why they did away with it. Most people didn't use them and they ended up in a jar until they were rolled up and cashed in at the bank. |
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Moderator
United States
23522 Posts |
Zinc is the fourth-most used metal on Earth, and the US accounts for 6% of world production. 720,000 tonnes (note the unit) per year. One year's worth of Lincolns (I used 5 billion as a round number) consumes less than 2% of US output alone, unless my math is wrong.
I don't think the world can produce zinc fast enough for the demand, as it is.
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Moderator
United States
188660 Posts |
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The retail lobby in Canada had a strong voice when it came to deciding the pennies fate, I'm a little surprised they don't have more clout than the zinc lobby in the US. Not to get too sideways here, but the US retail lobby has the money to put the zinc lobby to pasture. However, their focus is corporate tax reform, health care, and labor, anti-trust, and workplace regulations. The cent is not even on their long range sensors at this point. |
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Valued Member
Canada
261 Posts |
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...their focus is corporate tax reform, health care, and labor, anti-trust, and workplace regulations. The cent is not even on their long range sensors at this point. Ahhhh I see ... that makes sense. |
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Replies: 28 / Views: 3,720 |
First Page
Posted 04/13/2015 12:12 pm
