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Do You Think We Will See The Penny Disappear?

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TheForce's Avatar
United States
4869 Posts
 Posted 09/14/2015  1:13 pm  Show Profile   Bookmark this reply Add TheForce to your friends list Get a Link to this Reply
I'm not sure if I would collect NIFC Lincoln's once the series ends if they continue the cent just for collectors.
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1325 Posts
 Posted 09/15/2015  02:36 am  Show Profile   Bookmark this reply Add shadz to your friends list Get a Link to this Reply

Quote:
The mint is self funded.


Thank you! After all these time of people not getting it, someone else finally said it! Since the mint doesn't only make cents, the widespread forced use of dollar coins will greatly increase the amount the mint takes in ad have plenty of money to continue making cents, cause they never made sense.

With that in mind, will dollar coins be made after 2016 and the Pre$ and NA/SACs end?

You don't need time lapse for zincolns, just spill some Pepsi/Coke on one half the zinc will be gone before you finish drying it.
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OspreyCoins's Avatar
United States
932 Posts
 Posted 09/15/2015  06:24 am  Show Profile   Bookmark this reply Add OspreyCoins to your friends list Get a Link to this Reply
I don't know if this is true, but http://cashmoneylife.com/us-mint-ce...-production/
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barryg's Avatar
United States
5855 Posts
 Posted 09/15/2015  06:49 am  Show Profile   Bookmark this reply Add barryg to your friends list Get a Link to this Reply

Quote:
Do you think we will see the penny disappear within the next ten years?


I hope so, because I really hate the new shield cents. I thought maybe I would get used to the design after awhile, but it still looks like play money to me.

I really like your "Physics of the Impossible," btw! Big fan of science.
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captainrich's Avatar
United States
982 Posts
 Posted 09/15/2015  07:39 am  Show Profile   Check captainrich's eBay Listings Bookmark this reply Add captainrich to your friends list Get a Link to this Reply

Quote:
I don't know if this is true, but http://cashmoneylife.com/us-mint-ce...-production/


I started reading the comments at the bottom of the linked article and it seems like the story was meant to be an April Fools joke.
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n9jig's Avatar
United States
997 Posts
 Posted 09/15/2015  08:27 am  Show Profile   Bookmark this reply Add n9jig to your friends list Get a Link to this Reply

Quote:
I don't know if this is true, but http://cashmoneylife.com/us-mint-ce...-production/


It was an April Fool's joke, albeit one with some great factual basis.

What I think SHOULD happen: Drop the cent now, and the 5-cent coin later.

What I think WILL Happen: Nothing now, nothing later.
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Half's Avatar
United States
606 Posts
 Posted 09/15/2015  09:03 am  Show Profile   Bookmark this reply Add Half to your friends list Get a Link to this Reply
Maybe if businesses started adding taxes and other fees to the advertised prices of items we would see how useful the cent and nickel is.

In my small part of Spain they tend to round the price to the nearest 5 euro cents. It is uncommon to see the 1 and 2 euro cents in change.

Incidentally; it is very very nice to know the exact price you will pay for any given item before you go to the check out.
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jbuck's Avatar
United States
188747 Posts
 Posted 09/15/2015  2:41 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Thank you! After all these time of people not getting it, someone else finally said it! Since the mint doesn't only make cents, the widespread forced use of dollar coins will greatly increase the amount the mint takes in ad have plenty of money to continue making cents, cause they never made sense.
Not really what I meant.

Keeping the cent and nickel is a government subsidy to fool a small ignorant minority into thinking inflation is not occurring.

A business makes several widgets with prices ranging from low end to the high end. Because of inflation the low end products eventually cost so much more to make that profit is negative. Unless they are a proven loss leader, that business will either raise prices or eliminate the product.

The mint cannot raise the price of the cent and nickel, nor are either a loss leader (actually, demand of the others will increase without them). The mint needs to eliminate them.
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BadThad's Avatar
United States
19958 Posts
 Posted 09/15/2015  3:47 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply


It's big government at it's inefficient finest! I guess I'll never understand why ANYBODY trusts our federal government. They manage to screw-up anything they do!
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Valued Member
United States
214 Posts
 Posted 09/15/2015  8:28 pm  Show Profile   Bookmark this reply Add teo2015 to your friends list Get a Link to this Reply
If they stop minting pennies, will that be the end of penny collections. Most penny collections were started by kids filling penny folders with coins found in change and then moving on to CRH and ultimately buying the 1914Ds and 1909Ss when they grow older and have cash to fill in those holes that have been stareing at them their whole life. Without coins in circulation to start the collections, and coin rolls from the bank, is anyone going to start the classic penny collection? Will anyone want to buy the 1914D or 1909Ss if the number of penny collections start to drop?
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BadThad's Avatar
United States
19958 Posts
 Posted 09/15/2015  9:43 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply

Quote:
If they stop minting pennies, will that be the end of penny collections.


100% disagree, pennies will be around for DECADES (or even centuries) after they stop minting them. Stopping production will spawn many new collectors as interest will be at an all-time high. Did people stop collecting other denominations after the various mints around the world stopped making them?
Lincoln Cent Lover!
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OspreyCoins's Avatar
United States
932 Posts
 Posted 09/15/2015  9:46 pm  Show Profile   Bookmark this reply Add OspreyCoins to your friends list Get a Link to this Reply
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Ploopy's Avatar
United States
1788 Posts
 Posted 09/15/2015  9:49 pm  Show Profile   Bookmark this reply Add Ploopy to your friends list Get a Link to this Reply
In time.
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n9jig's Avatar
United States
997 Posts
 Posted 09/15/2015  9:51 pm  Show Profile   Bookmark this reply Add n9jig to your friends list Get a Link to this Reply
Also remember that when penny collecting was first popular cents were still useful in commerce for actual purchases. Nowadays they are only used to make change.
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CelticKnot's Avatar
United States
12839 Posts
 Posted 09/16/2015  12:32 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Cents are useless. I'm pretty sure everyone is starting to get the hint now. Except Congress...

I could go either way with NIFC cents after they're eliminated (note the optimism). Part of me wouldn't mind seeing them carry on in Mint Sets and other NIFC products as the halves and dollar coins do. At the same time, I wouldn't mind having a Lincoln Cent album that is complete. Either way I'll play the cards (cents) that are dealt.
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