Recall Of The Penny

I think the cost of withdrawal will far exceed the value of all the pennies in circulation judging by some of the remarks in the article link Coin Chick posted.

... there could be some incremental costs for delivery to the various RBC distribution centres for which RBC will not be compensated ...

There will definitely by unforeseen costs not mentioned by the government to "save us money" by stopping the minting of the 1 cent coins.

I dont understand why they don't just stop minting them but continue distribution. They don't need to take them away completely. I think the existing supply of pennies would suffice for at least a few years.

This story smacks of urban legend. I'm not a fan of yahoo finance and have wondered about other stories that had the earmarks of a planted story.

I just don't see how it would be profitable to the government to confiscate all the cents in the country. I think that would kick in the hoarding gene in almost everyone. An example of the hoarding is the ratio of copper coins to zinc is shrinking. I'm lucky to get 8 copper coins in a roll and have given up on roll searching. I'm doing better in just pocket change.

I've been hoarding nickels. Anyone else stacking nickels?

they ( RCM) are subsidizing the recall by buying shares in the shopping channel,

sell out @ $6 a roll for 2012 mintage of several billion...