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Last USA Penny 2022/2023. What Now?

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Raised on rock's Avatar
United States
635 Posts
 Posted 01/31/2022  08:53 am  Show Profile   Bookmark this reply Add Raised on rock to your friends list Get a Link to this Reply
I say bring back the 20 cent.
Rest in Peace
T-BOP's Avatar
United States
18456 Posts
 Posted 01/31/2022  10:20 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply

Quote:
I say bring back the 20 cent.

Fine , but they would have to redesign the whole coin from the ones we had starting 1875 . They IMHO were ugly .
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jbuck's Avatar
United States
188708 Posts
 Posted 01/31/2022  11:26 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
That won't work well for me - I lost my marbles long ago.



Quote:
I say bring back the 20 cent.
It would still be here if we had nixed the quarter when it was first introduced. It would also make retiring the nickel so much easier.
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cladking's Avatar
United States
2271 Posts
 Posted 01/31/2022  2:41 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply

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the nickel is a bigger waste of money than the cent so if they abolish the cent, the nickel is surely going to go right along with it for the same exact reasoning. or they start making the nickel out of copper plated zinc....


I very seriously doubt it. The cost of the cent is just being passed on to other denominations and has been for years. When they make dies most are cent dies but the cost of a new die shop years ago was divided equally among the denominations. It is ridiculous to believe the fabrication cost of a nickel is three or four times as much as the cent but this is the claim. Obviously a hard cu/ ni coin wears out dies and equipment much faster than a soft toxic slug but the dies last for millions of strikes which makes the unit cost pretty low.

Even today half the coins being made by the mint are pennies and half of the time and effort to make coins turns out the less than worthless penny. But all these costs are laid out on the other coinage instead.

The real cost of pennies is staggering and can't really be computed since the fatalities caused by their ingestion is unknown and the cost of maintaining a broken monetary cash system is unknown. How do you calculate the inability to circulate a dollar coin because pennies clog up cash registers? How many covid deaths wouldn't have occurred if we had the far more sanitary one dollar coin instead of the filthy rag dollar that passes around from hand to hand for a couple months before its tattered remains are withdrawn from circulation?

It's impossible to compute the real cost of the penny but I'd estimate the production at 5c and each usage costs the commonweal another cent and a half.

But we have everything to waste now days. we make refrigerators that only last a few years and pay for them with pennies that are worth more dead than alive. As long as people are getting rich on the waste it will continue forever because that is modern America.


The nickel is a small waste but that can be rectified easily by transitioning to a small aluminum coin to replace it.
Time don't fly, it bounds and leaps.
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jbuck's Avatar
United States
188708 Posts
Bedrock of the Community
ijn1944's Avatar
United States
19163 Posts
 Posted 01/31/2022  4:14 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Really hoping we don't end up with small aluminum coins--that's just me.
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jbuck's Avatar
United States
188708 Posts
 Posted 01/31/2022  4:22 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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Really hoping we don't end up with small aluminum coins--that's just me.
We are not going to have to worry about that for the cent; again, even using free material is still a loss. However, the nickel is fair game.

The "aluminum nickel." How is that for an oxymoron!
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Coin9328492's Avatar
25 Posts
 Posted 01/31/2022  4:57 pm  Show Profile   Bookmark this reply Add Coin9328492 to your friends list Get a Link to this Reply
I suggest you all get started hoarding and hopefully everyone can save all the pennies from the melting pot. (especially those eagle cents, indian head, wheats huh?)
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jbuck's Avatar
United States
188708 Posts
 Posted 01/31/2022  5:00 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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I suggest you all get started hoarding and hopefully everyone can save all the pennies from the melting pot.
It is the only reason why I have a (relatively) small hoard of cents. Not for profit, but to keep them from being melted!
Bedrock of the Community
ijn1944's Avatar
United States
19163 Posts
 Posted 01/31/2022  5:22 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Here's an alternative... Congress authorizes the US Mint to acquire a few billion devalued foreign coins. (Counter) punch the coins with a US counterstamp, denoting 'United States', year and denomination. Then turn 'em lose into circulation. Might not work well in vending machines, but would be a wonderful adventure none-the-less. Imagine 'doubled' counter-punches, etc.
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jbuck's Avatar
United States
188708 Posts
 Posted 02/01/2022  10:24 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
"Acquire" equals "buy" and "buy" is not equal to "free." They will still lose money.
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Coin9328492's Avatar
25 Posts
 Posted 02/02/2022  5:02 pm  Show Profile   Bookmark this reply Add Coin9328492 to your friends list Get a Link to this Reply
I am in canada with a small amount of us cents, I'm gonna hoard them to PROTECT them from the pot
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oriole's Avatar
Canada
5241 Posts
 Posted 02/02/2022  6:38 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply

Quote:
When retailers play the game of .99 it makes your mind think of the lower number rather than the higher number (ie: $5.99 leaves the impression of $5 rather than $6)


In Canada, even without the 1 cent coin, retailers still play that game, or use $5.95 instead of $5.99.
Pillar of the Community
United States
877 Posts
 Posted 02/02/2022  7:01 pm  Show Profile   Bookmark this reply Add Dowhat to your friends list Get a Link to this Reply
It seems that most are disregarding the influence of the zinc lobbyists. Not to mention the legislators that support them for kickbacks. I do not believe the cent is in peril here as long as the zinc producers have the "government " in their pocket. Just an opinion.
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jbuck's Avatar
United States
188708 Posts
 Posted 02/03/2022  10:16 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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It seems that most are disregarding the influence of the zinc lobbyists. Not to mention the legislators that support them for kickbacks. I do not believe the cent is in peril here as long as the zinc producers have the "government " in their pocket. Just an opinion.
I am not disregarding them because I know full well that is the only reason why the cent is still around. No one would care about the cent if they were not selling all this FUD to the people.
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