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 Replies: 27 / Views: 2,978 |
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Pillar of the Community
United States
3345 Posts |
Lifting the melt ban on copper pennies would have a huge impact on the price of copper and the amount of coins still in circulation.
Should we petition the government?
Someone, (I could do it) could start a petition on change.org to lift the melt ban on copper cents. I know a lot of people in coincommunity would sign it. I have a feeling it might gain a lot of attention.
But there are some drawbacks to this. such as the need for coins in circulation. I know there are still billions of them around but people with Ryedales make an impact.
What say you? Lets discuss this before doing anything.
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Bedrock of the Community
13014 Posts |
It wont happen. It would cost them a ton of money to replace all the pennies and if they ever do decide to melt them they will do it themselves to get the money from it. Theres literally no benefit for the government to just say have at it. But as long as they sell over face on ebay Ill keep pulling them |
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Valued Member
United States
80 Posts |
If you're going to let pennies be destroyed, why not stop issuing them altogether? I would be okay with lifting the melt ban after a comprehensive currency reform, which desperately needs to happen in America sooner rather than later. It would at least give the Mint more opportunities to use those CNC die engraving mills.
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Pillar of the Community
United States
4008 Posts |
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If you're going to let pennies be destroyed, why not stop issuing them altogether? Exactly. A penny is pretty worthless these days anyway, so why not streamline things a bit, end the penny, and do whatever anyone wants with them. End of story. |
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Pillar of the Community
 United States
3345 Posts |
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A penny is pretty worthless these days anyway, so why not streamline things a bit, end the penny, and do whatever anyone wants with them Then the thing to do would be to petition the government to end the penny? Is this what yall are saying? |
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Bedrock of the Community
United States
14454 Posts |
I believe there has already been petitions to end the 1 Cent coins and the $1 bill (I could be wrong but I believe I remember some within the last year or two) but it hasn't happened yet
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Pillar of the Community
United States
3345 Posts |
Well Bryan I looked on change.org and saw one to end the $1 bill. but it had one supporter. Promotion is the thing.
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Bedrock of the Community
13014 Posts |
You could get support to end the penny, wont get it for the bill though. The average person will think the 5 will take its place and price will go up, and we all saw how well the 1 dollar coins were received
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Bedrock of the Community
Australia
21788 Posts |
I think that the melt ban may be eventually lifted, but if they do, sometime in the distant future, it won't make any difference. By that time, full bronze cents will be rare in circulation.
I agree with cursive. More likely to be the the case, is that the cent will no longer be struck. If that happens, the ban on melting bronze cents will be irrelevent.
For a short time, you may be able to return ALL cents back to the bank at face value, if you wish. Some Zincolns may be kept by those who want them to complete sets, or for mementos. What remains will still be common for the collecting community.
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Pillar of the Community
Canada
3692 Posts |
If a person wants to melt them, a piece of paper isn't going to deter them.
Besides, why are people so obsessed with melting coins, anyways? You can sell them as is.
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Bedrock of the Community
13014 Posts |
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Besides, why are people so obsessed with melting coins, anyways? You can sell them as is. Youd get more money and itd be easier if you could just scrap them but I agree |
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Pillar of the Community
United States
863 Posts |
IMHO they wont lift the ban until the cent is out of curculation
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Valued Member
United States
117 Posts |
Don't worry guys. If my conspiracy theoristic mind is telling the truch, we'll do away with money soon enough. Instead, everone will be chipped with a numeric number for your ID and income levels. Can you imagine, would PCGS slab chips in the future? Imagine a slabbed ATM card. That could be the next big thing, haha.
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Pillar of the Community
United States
4008 Posts |
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Then the thing to do would be to petition the government to end the penny? Is this what yall are saying? Can't speak for all but IMHO, yes. It's pretty hard to remember buying something with a single nickel, let alone a penny. Quote:
The average person will think the 5 will take its place and price will go up, and we all saw how well the 1 dollar coins were received I would not think that but someone else might. Shrug. As to the $1 coins, the government missed their change opportunity in a couple of ways. First, a lot of people remember what a $1 coin used to look like, such as a Peace or Morgan dollar, even an Ike dollar. So, things that do not look like those coins doesn't really seem to be a dollar. The ones that looked like quarters were especially bad. Second, they should have removed the $1 paper note from circulation so that people would not be using them instead of the coins. $1 bills could still be legal tender but they would disappear by attrition in a few years. I'd be OK with that. Quote:
Instead, everone will be chipped with a numeric number for your ID and income levels. They're gonna have to put ME on a slab before that happens!  |
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Bedrock of the Community
13014 Posts |
Quote:As to the $1 coins, the government missed their change opportunity in a couple of ways. First, a lot of people remember what a $1 coin used to look like, such as a Peace or Morgan dollar, even an Ike dollar. So, things that do not look like those coins doesn't really seem to be a dollar. The ones that looked like quarters were especially bad. Second, they should have removed the $1 paper note from circulation so that people would not be using them instead of the coins. $1 bills could still be legal tender but they would disappear by attrition in a few years. I'd be OK with that. I agree. The only way theyll get it to take is getting rid of the bill. I love the idea of the Presidential dollars but the execution wants that great. The size was to much like a quarter and the color made them look nasty real fast. People just dont like thing changing, if you dont force them to do something different, they wont |
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Pillar of the Community
United States
863 Posts |
There are some stores ( ones who are known for their high traffic) who round all transactions to the nearest nickle. maybe everystore will be like this soon
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Replies: 27 / Views: 2,978 |
Posted 10/20/2012 3:02 pm
