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 Replies: 13 / Views: 2,267 |
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New Member
Canada
26 Posts |
A fellow worker that used to work for Brinks or Garda(I don't recall which)stated that his friend that still works there told him the govt.set up separator units to take the copper out at the coin sorting depot.Anyone else hear of anything like that? I have gotten boxes before from LPS that basically have no copper pennies in it at all...Thanks...M
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Pillar of the Community
Canada
1192 Posts |
They've been doing it for a long while with nickel composition 25c and 5c coins. Probably 10c as well. I'm sure they've also been pulling out the copper pennies for some time now.
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Pillar of the Community
Canada
2781 Posts |
$3.70 per pound... of course they are...
once they have the lion's share (banks have been told to ship all pennies bank to the mint) they will demonitize the penny. (if I understand it correctly they are currently just "not producing anymore", which still makes it illegal for anyone else to melt, or export the coins, until they are officially toast)
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Pillar of the Community
Canada
2366 Posts |
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Rest in Peace
United States
9104 Posts |
 , mani22! Who has better access than the gubmint? |
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Valued Member
Canada
248 Posts |
 They have the power! Yet they say the penny is worthless. Edited by commoncents13
04/26/2012 03:35 am
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Pillar of the Community
United States
802 Posts |
This could be looked at two-fold:
1. The government is like a business... the top guys know what plan of actions that will happen in the future (like getting rid of the penny {like Canada} and they want to get the copper out while the coins are still in circulation (more profit/less loss).
2. The government is collecting all of the copper, and will eventually let off on some of the copper short pressures (JP Chase Morgan) and the price of copper will go up after they've collected enough bulk. Personally I think they are the ones manipulating the silver price, but it is only time before they have no choice :)
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Pillar of the Community
Canada
3692 Posts |
They will not demonetize them.
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Valued Member
Canada
111 Posts |
I don't think they will demonitize. One thing funny with the change I get lately, Is the fact I see about 1 pre-1982 nickel per 2 weeks, and I get about 7 copper pennies out of 10?
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Valued Member
Canada
56 Posts |
Hi Everyone,
New to the forum and finding a lot of useful info here.
Just returning to collecting from a long absents from the hobby , as the kids are showing interest in starting a collection too.
Just to add my penny into the talk.
The Mint has a metal recovery program to help off set the cost of producing new coinage. From what I have read they have been successful and have even turned a profit of million back in 2007 or 2008. Makes a lot of cents but bad for us collectors.
Happy roll hunting every one and save that copper and nickel while we still can.
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Pillar of the Community
United States
2224 Posts |
I wouldn't put it past the US to do the same thing. I still find plenty of copper (about 25-30% per bank box) down here in the States but once the US government looks at what Canada is doing, they might get the same idea.
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Rest in Peace
United States
9104 Posts |
, WCP! |
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Valued Member
Canada
278 Posts |
Manni and WCP! A friend of the family works for RBC and the "mighty penny recall" has definatley begun. The next 6 months - 1 year will definatley be interseting for the world of numismatics! |
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Pillar of the Community
United States
863 Posts |
Sound like we should follow suite and save the copper ones too
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Replies: 13 / Views: 2,267 |
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Posted 04/25/2012 7:27 pm
