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 Replies: 23 / Views: 2,971 |
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Valued Member
United States
493 Posts |
Well, the reason to stop minting them in the first place?, what's a penny worth anymore, about Three Cents in production costs?, then transporting, delivering, handing out, bring back to bank, sending for rolling, boxing and delivery back to the banks to start all over again. I think the 59-82 95% copper LMC will have a special place, but like 90% circulated silver, only command a general melt or spot price, which probably won't be much. Long term, definitely, as people hoard these things for the copper, hoping to cash in if the melt ban is ever lifted, maybe double your money in twenty years if your lucky, it's a gamble, but a safe one. Edited by everything
04/04/2012 01:22 am
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Pillar of the Community
United States
927 Posts |
Does anyone know if Canada intends to include cents in their mint sets in future years? Not that the U.S. would do the same thing as Canada, but it would set a precedent.
I think that if the U.S. stops making cents for circulation, it should include them in mint and proof sets but not sell rolls separately. That would make them more special. They should also stop selling rolls of half dollars unless they intend to circulate them again (doubtful).
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Moderator
 United States
188660 Posts |
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Not that the U.S. would do the same thing as Canada, but it would set a precedent. Like the one we followed when we quit printing our one dollar notes to stimulate use of the one dollar coin? Oops!  Quote:
I think that if the U.S. stops making cents for circulation, it should include them in mint and proof sets but not sell rolls separately. That would make them more special. They should also stop selling rolls of half dollars... I agree. |
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Rest in Peace
United States
9104 Posts |
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Remove Lincoln's coin and Washington's paper note and they both still appear on our circulating money. Problem solved! While they're at it, give them back their birthdays and get rid of MLKman day. |
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Bedrock of the Community
United States
20753 Posts |
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In my estimation, lot of interest in collecting of cents is that it's the cheapest and easiest way to start collecting a date and mintmark set (despite the fact that it's a hard set to complete!). Not sure if kids in other countries are as coin collecting as they are here in the USA. When my Son was going to college in Europe he noted so few anywhere where he went had any interest in coin collecting at all. Due to amount of coin collectors alone, getting rid of Pennies would make it difficult for little kids to start collecting coins. Now due to them being of so little value and have been for a long time now, almost any kid that wants to collect coins can do it easily with Pennies. For a kid of about 5 to 10 years old saving a Penny is easy. A Nickel to many is already a bit on the expensive side. Dimes are rather out of reach to a lot of kids. For that reason alone Pennies are necessary. Kids need something of little value to hold on to. Possibly a vast majority of kids in the USA collect Pennies. Nickels next. To stop them now would mean: 1. Parents would have to find something equally cheap for them to collect. Try to find that. 2. Companies like Whitman, Dansco, Littleton, etc. would have to redo all their Albums. 3. Wouldn't be to many coins in wishing wells if there were no Pennies. 4. Have to rewrite all the sWows that use the word PENNY 5. All those machines in Zoos and Museums that make something out of Pennies would be useless. 6. Many empty spots on this forum where people complain about the cost of making Pennies. 7. Many empty spots on all coin forums where people complain about the word PENNY, instead of CENTS.  |
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Pillar of the Community
United States
2295 Posts |
I doubt the Lincoln Penny (cent) will ever go away completely. There are billions collected and will be around forever. Look at the Half Cent, 2 cent piece, 3 cent piece, 20 cent piece, gold coins, etc. And what about sayings like a penny saved is a penny earned? Or a penny for your thoughts? Elongated cents? It is no different than when the LP record got replaced by the CD. Ask a young kid, when he keeps saying the same thing over and over again, that he sounds like a broken record, and he will have no clue on what you mean.  There are a million things like that in the US culture that eventually go away over time. Even though the cent is way more popular, it isn't useful anymore and needs to go away from our current culture too. It'll still be remembered, just not used as money. |
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Moderator
United States
188660 Posts |
Excellent summary, wquinn.  Last time I checked, my beloved and "no longer minted" Eisenhower dollar is still around.  |
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Pillar of the Community
United States
2295 Posts |
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Replies: 23 / Views: 2,971 |
First Page
Posted 04/04/2012 02:50 am
