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 Replies: 19 / Views: 11,509 |
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Pillar of the Community
United States
4404 Posts |
Not people falling for an April Fool's joke in September!  |
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Bedrock of the Community
United States
10284 Posts |
I wish ~ but the article looks like an April Fools day joke and dated as such.
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Pillar of the Community
United States
3848 Posts |
I almost fell for it  Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Pillar of the Community
United States
1694 Posts |
They need to , cost more than they are worth. Literally .
Same with Nickels .
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Bedrock of the Community
Australia
21788 Posts |
The U.S. Mint's decision to cease production is in common with similar decisions for lowest face value coins around the World. I guess somewhat expected.
Actually, I think that lots of Americans would be glad to seem them go anyway. Unfortunately, CRH'ers are in the minority.
If not,
why can't they continue production with injection molded plastic Cents?
Plastic banknotes have been in wide scale circulation around the World for more than 15 years.
How about Nickels in Cu-Ni plated copper? This proposition would be reinforced if it becomes the lowest face value circulating coin.
(size problem with the Quarter? - don't worry about it...
Australian $2 coin is smaller than $1 coin, and the Public has no problems.)
Alternatively, could be made out of bronze to distinguish it from Dimes and Quarters.
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Pillar of the Community
 United States
4618 Posts |
Yep. April Fool's joke. Quote:Penny Fun Facts:It costs more than 1 cent to make a penny - Snopes. It is illegal to melt US coins to sell for scrap metal - US Mint. Composition of the US Penny - US Mint. Penny Specifications - US Mint. US Penny - Wikipedia. Efforts to eliminate the US Penny - Wikipedia. A Penny Saved is Worth More Than a Penny Earned - Cash Money Life. $$$ And if you haven't figured it out by now - Happy April Fools Day! Quote:
Disclaimer: No pennies were harmed in the writing of this blog article. All facts, figures, and other information were made up on the spot or carefully edited for effect, except for the Penny Fun Facts, which lead to legitimate sources of information. ANA ID: 3203813 - CONECA ID: N-5637 Clean a coin that may be worth collecting? Please DON'T! When in doubt, leave it dirty!! 
Edited by Yokozuna
09/24/2021 06:42 am
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Bedrock of the Community
Canada
21616 Posts |
And here I thought the US was finally going to get caught up to Canada  |
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Moderator
United States
188770 Posts |
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Rest in Peace
United States
18456 Posts |
I started to figure out how I will try to buy 5 boxes each of 2022 & 2023 OBW rolls of the last Lincoln Cents .   |
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Pillar of the Community
 United States
5191 Posts |
Too bad it is an April Fools joke, otherwise we should immediately start hoarding pennies as the numismatic value of those undoubtedly will skyrocket.
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Pillar of the Community
United States
4593 Posts |
On a practical note, the US Mint doesn't make the decision, it's the Secretary of the Treasury. 31 U.S. Code § 5131 - https://www.law.cornell.edu/uscode/text/31/5131Quote:
(b)The Secretary of the Treasury shall carry out duties and powers related to refining and assaying bullion, minting coins, striking medals, and numismatic items at the mints. 31 U.S. Code § 5111 https://www.law.cornell.edu/uscode/text/31/5111Quote:
(a)The Secretary of the Treasury—
(1)shall mint and issue coins described in section 5112 of this title in amounts the Secretary decides are necessary to meet the needs of the United States; 31 U.S. Code § 5112 (note that SHALL means have to, MAY allows choices) Quote:
(a)The Secretary of the Treasury may mint and issue only the following coins:
...
(6)except as provided under subsection (c) of this section, a one-cent coin that is 0.75 inch in diameter and weighs 3.11 grams. and Quote:
(c)The Secretary may prescribe the weight and the composition of copper and zinc in the alloy of the one-cent coin that the Secretary decides are appropriate when the Secretary decides that a different weight and alloy of copper and zinc are necessary to ensure an adequate supply of one-cent coins to meet the needs of the United States. (so note that Congress didn't change the composition of the cent to the hated ZLincolns, they allowed the Secretary to do so) Finally, as long as I'm poking at 31 USC 5112, Quote:(b)The half dollar, quarter dollar, and dime coins are clad coins with 3 layers of metal. The 2 identical outer layers are an alloy of 75 percent copper and 25 percent nickel. The inner layer is copper. The outer layers are metallurgically bonded to the inner layer and weigh at least 30 percent of the weight of the coin. The dollar coin shall be golden in color, have a distinctive edge, have tactile and visual features that make the denomination of the coin readily discernible, be minted and fabricated in the United States, and have similar metallic, anti-counterfeiting properties as United States coinage in circulation on the date of enactment of the United States $1 Coin Act of 1997. The 5-cent coin is an alloy of 75 percent copper and 25 percent nickel. In minting 5-cent coins, the Secretary shall use bars that vary not more than 2.5 percent from the percent of nickel required. Except as provided under subsection (c) of this section, the one-cent coin is an alloy of 95 percent copper and 5 percent zinc. In minting gold coins, the Secretary shall use alloys that vary not more than 0.1 percent from the percent of gold required. The specifications for alloys are by weight. So there is nothing in law preventing the secretary of the treasury from deciding to stop making cents, or making them of any alternate composition of copper and zinc they want. Plastic would require a change in the law. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
982 Posts |
Even if the US Mint were to stop making cents for circulation, they would still be included in the annual mint sets and proof sets indefinitely, just like the half dollars.
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Pillar of the Community
United States
4593 Posts |
This is wishful thinking or an assumption, which like the original claim, has no basis in fact. Quote:
Even if the US Mint were to stop making cents for circulation, they would still be included in the annual mint sets and proof sets indefinitely, just like the half dollars. As long as the Fed keeps ordering cents, the mint will likely keep making them as the Mint's job is to keep its largest customer happy. It would likely take coordinated action to stop production. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
7621 Posts |
They should, if they ever really quit making them, do 24k gold proof Lincoln cents in all the versions previously minted: Wheat, Memorial and Shield. What a way to close it out!
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Moderator
United States
188770 Posts |
Quote:
So there is nothing in law preventing the secretary of the treasury from deciding to stop making cents The right choice.  Quote:
or making them of any alternate composition of copper and zinc they want. Plastic would require a change in the law. Neither would do any good. "Free Material" would still be a loss. Plastic play pennies from China are four dollars per 100.  Quote:
Even if the US Mint were to stop making cents for circulation, they would still be included in the annual mint sets and proof sets indefinitely... If they knew what was good for them, the would be bronze as well.  Quote:
As long as the Fed keeps ordering cents, the mint will likely keep making them as the Mint's job is to keep its largest customer happy. The Secretary could say no and the Fed would be like, "Whatevs."  |
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Replies: 19 / Views: 11,509 |
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Posted 09/23/2021 11:08 pm
