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How Much More Life For The Lincoln Cent ?

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18456 Posts
 Posted 12/08/2022  4:31 pm Show Profile   Bookmark this topic Add T-BOP to your friends list Get a Link to this Message
With Copper prices higher now than they were a few years ago , do you think they will put an end to old Abe once and for all ?
Tony

For Butch & Jim rest in peace .
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United States
238 Posts
 Posted 12/08/2022  4:36 pm  Show Profile   Bookmark this reply Add SaturnD51 to your friends list Get a Link to this Reply
Here I bought into the theory that they would phase them out after this year so I bought about 5 boxes. Boy was I wrong. I thought the price of copper would influence the mint to stop producing pennies.I guess they like good old Abe too much,lol. Canada did it but I haven't heard anything about the U.S. yet.
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120678 Posts
 Posted 12/08/2022  4:47 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
The price of copper has nothing to do with it, not for forty years now.

The cost of manufacture and logistics alone has made the cent a loser for at least the last twenty years. The Mint could materialize copper plated zinc blanks from thin air and they still lose money.

Canada is ten years into the endeavour and they survived. It is way past time for the USA to say goodbye to a circulating cent.
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 Posted 12/08/2022  4:52 pm  Show Profile   Bookmark this reply Add 279773 to your friends list Get a Link to this Reply
My thoughts are, that the president should declare that all pennys will now be worth 2cents. Legal tender. You could round penny one up for change.
Edited by 279773
12/08/2022 4:53 pm
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41870 Posts
 Posted 12/08/2022  5:26 pm  Show Profile   Check nss-52's eBay Listings Bookmark this reply Add nss-52 to your friends list Get a Link to this Reply
Politics keep the cent going. The zinc lobby, the Mint employee union, Congressional "profits" from those that want them still made.
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United States
10632 Posts
 Posted 12/08/2022  5:26 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
End Abe? Nope. Eventually perhaps, but not in the near term.

As we know, this topic surfaces periodically. A search of the community's forum will turn up a few cent termination topics running many, many pages each.
Edited by ijn1944
12/08/2022 5:27 pm
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5623 Posts
 Posted 12/08/2022  5:36 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
The Lincoln cent has barely any copper. I would be in favor of getting rid of it. It has no real value left.
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 Posted 12/08/2022  6:10 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Agree the lowly zinc cent, the most reviled coin coin in US history, will likely be with us for many years to come.
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 Posted 12/08/2022  6:20 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
One Cent coins will cease issue into general circulation when
there is a unanimous decision by all States to agree on how to deal with the differing States sales tax rates at the point of sale.

Inefficiency until then.

I looks like the Feds unilaterally can't figure out a solution to this problem,
because if they had been able to do so, the One Cent would have been officially demonetized decades ago.

A stop gap solution could be the introduction of plastic injection molded coins, despite having the appearance of play money.

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 Posted 12/08/2022  7:19 pm  Show Profile   Bookmark this reply Add Hondo Boguss to your friends list Get a Link to this Reply
In 2021, the US Mint produced nearly 14.5 billion cents - roughly 50 for each person in the US. That's 50 more than I have any use for.
Inordinately fascinated by bits of metal with strange markings and figures
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 Posted 12/08/2022  8:37 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply

Quote:
Agree the lowly zinc cent, the most reviled coin coin in US history, will likely be with us for many years to come.


Half a trillion little reminders of how wasteful this country an Congress are.

I'd say these little reminders will be around forever, but the fact is they corrode so quickly the survivors will be under glass in museums in another hundred years.

Time don't fly, it bounds and leaps.
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10632 Posts
 Posted 12/08/2022  8:48 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
For your reading pleasure--the fate of the Lincoln cent...

http://goccf.com/t/378293

http://goccf.com/t/408045
Edited by ijn1944
12/08/2022 8:51 pm
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3719 Posts
 Posted 12/08/2022  11:20 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
As long as the Fed keeps ordering a billion of them a year, and/or congress changes the law...
-----Burton
49 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC, OnLine Coin Club
Owned by four cats and a wife of 39 years (joined 1983)

PS: ANA's records are messed up, they show me as a 50-year member and I'm now Emeritus
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 Posted 12/09/2022  05:27 am  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
I don't think the cent will go away in our lifetime. Agree that the price of copper has nothing to do with their current existence.
Take a look at my other hobby ... http://www.jk-dk.art
Too many hobbies .... too much work .... not enough time.
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 Posted 12/09/2022  08:06 am  Show Profile   Check nss-52's eBay Listings Bookmark this reply Add nss-52 to your friends list Get a Link to this Reply

Quote:
A stop gap solution could be the introduction of plastic injection molded coins, despite having the appearance of play money.
That would increase the demand for oil.
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 Posted 12/09/2022  09:56 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
One Cent coins will cease issue into general circulation when there is a unanimous decision by all States to agree on how to deal with the differing States sales tax rates at the point of sale.
I have to say this every time the topic comes up...

Taxes have nothing to do with it! There are multiple jurisdictions with sales tax rates set to a half-percent and we get along fine without a Half Cent! Stop selling that "cannot do sales taxes" with the cent humbug! Rounding works without a Half Cent, it will work without a cent.


Quote:
A stop gap solution could be the introduction of plastic injection molded coins, despite having the appearance of play money.
Did you miss the part where I said even if material was free the cent would still lose money?
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