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 Replies: 104 / Views: 7,244 |
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Moderator
 United States
164022 Posts |
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Is the nickel next? Where do you think all the zinc is going?  The all new Zinckle, coming to a bank near you in 2027! 
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Pillar of the Community
Russian Federation
5042 Posts |
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I'm hoping to talk to coin collectors about their reaction to the news and their plans moving forward. As a collector (formerly) from Russia who only incidentally collects US coinage, I never understood the apparent need of so many countries (including, eventually, Russia itself) to get rid of their low denominations of coinage. If they really think that there's no use for the tiny coins, they can at least continue to put them in mint sets (as e.g. Thailand and South Korea do) - but honestly the demand for the extremely small change should realistically be pretty low in the first place, so just general low mintages should surely be enough. I'm not sure why it seemingly didn't work that way for US cents. I suspect that there'd be a big rush among coin roll hunters to grab as many penny rolls as they could while it's still possible. Aside from that, I think it's too early to say whether this would make the cents more collectible or less so (though I'd lean towards less, at least in the short-to-medium term; the cent had long been the denomination with the most chance of finding interestingly old coins in change, and it would be a shame to have to get rid of that opportunity).
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Valued Member
New Zealand
65 Posts |
Long overdue. Get rid of the nickel as well. Waste of money to produce. And stop making one dollar notes so people will use dollar coins. There are billions of them gathering dust at the Mint.
The decision concerning one cent coins reminds us that even a broken clock is right twice a day.
A lot of how removing one cent coins impacts things hinges on whether or not they're demonetised. As long as they remain legal tender they will be valued by people for that alone, plus they'll have the added advantage of being "collectible" to some.
As for metal options, definitely stay away from steel and aluminium. If that's where we land, we're kinda in trouble, and I say that having watched New Zealand transition from cupro-nickel denominations under a dollar to steel when they resized those coins a couple of decades ago. Just my personal view that it cheapens the value of whatever is in our pockets.
Separately, the smaller denominations (one and two penny) and larger large denominations (ten, 20 and 50 cents) are no longer able to be used in transactions, although I believe the Reserve Bank will change them in for cash still. Even so, because they're not viewed as "money", their ONLY value is to collectors. As such, all older versions of everything from pounds, shilling and pence in NZ from 1967 and before and all pennies through fifty cent pieces up through the resizing only have value to collectors, and it shows when they come up in bulk lots at the local auction house.
Unless there's some silver in there (1946 and earlier for NZ coins) or a rarity, they often go for not a lot more than scrap value, so kind of good for collectors from one point of view, but there's also an oversupply in my view since most people simply no longer see them as money. Collectors can acquire as many of them as they want, so it becomes almost exclusively a condition game.
As for how to deal with making change, in NZ purchases paid electronically are for the exact total sum. If paying cash, the total amount is rounded up or down using Swedish Rounding. You win some, you lose some, but it's literally a cent or three per transaction. Not exactly enough to break the bank.
Edited by Buffalo soldat
05/23/2025 5:07 pm
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Valued Member
United States
287 Posts |
I'm all in support, so long as it's kept as an NIFC issue. It reduces the burden placed upon business and banks, saves money, and makes pennies more alluring for us collectors because there will be a finite amount of them.  YGP
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Pillar of the Community
United States
2833 Posts |
Very interesting discussion so far  The government and mints may decide to make cents of aluminum or other really cheap formulas  |
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Valued Member
United States
347 Posts |
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The elimination of the penny from circulation might have the opposite effect you fear; it might finally make memorial and later cents far more collectible I have mixed emotions around this fact. Holding a rare penny like a 1983 transition error, I should want to remove the remaining supply from circulation. As that would likely lead to an increase in the value. But the issue I have with removing the penny (lowest value coin, with so many errors/varieties), is that this will limit entry to who can afford to collect coins. I'm talking about the newest, youngest, least likely to have disposable income cohort. 100% ignoring all the politics, lobbying, and waste of money that goes in to keeping the penny in circulation.
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Pillar of the Community
945 Posts |
US Mint has made its final order of penny blanks, will stop producing the coin when those run out https://www.whas11.com/article/news...=exit-recircOnly an act of congress can get rid of the cent. *** Edited by Staff - Please review the rules that you agreed to when you registered. *** |
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Moderator
United States
33110 Posts |
@ckr, I've merged your thread with this one since they have the same subject. Also, you will notice that I have removed some of your text. While this is a politically-charged subject to be sure, please please please keep your comments focused on the numismatic aspects. Thx.
"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Pillar of the Community
United States
1391 Posts |
This will unfold in many acts over several years. First, minting of cents for circulation will halt, this year or next. Then, perhaps, an act of Congress will officially halt production, perhaps except for NIFC/Proof issuances. At some point, the U.S. may follow the Canadian lead and start rounding transactions (to the nearest nickel, or something similar). Cents will then disappear from circulation. Only time will tell if it will become legal to melt pre-1983 cents for their copper content. Prices for Lincoln cents may initially rise, but eventually settle a bit. Check back in 10 or 20 years and see what I've gotten correct.
Edited by halfamind
05/22/2025 9:21 pm
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Pillar of the Community
United States
1391 Posts |
A U.S. one cent coin has been produced for circulation every year since 1815, when a lack of copper prevented production. Cents were produced during the Civil War, two World Wars, several depressions (including the Great Depression), and even 1922.
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Pillar of the Community
Canada
5177 Posts |
Way , way long overdue .
One cent coins are totally
useless in commerce .
Rounding works very well in
most countries.
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Pillar of the Community
United States
4863 Posts |
Now if we can get rid of the dollar note and get those billions of dollar coins out of vaults and into circulation...
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Pillar of the Community
United States
2026 Posts |
Not sure if this really means the penny will stop being minted. The article talks about stopping orders for this year. It doesn't mention following years.
And to actually discontinue minting will take an Act of Congress.
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Pillar of the Community
United States
1858 Posts |
As a side note, I finally found a 2025 P Lincoln Cent from circulation today. Haven't seen any other 2025 coins in circulation yet. Sure doesn't take very long for these zinc cents to develop spots. |
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Pillar of the Community
United States
1692 Posts |
Which is why my cent collection ends at 1982 copper, Mr T.
I hate zinc rot.
Lol.
Edited by DoubleEagle20
05/23/2025 05:16 am
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Replies: 104 / Views: 7,244 |
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Posted 05/22/2025 5:20 pm
