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 Replies: 99 / Views: 9,540 |
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Pillar of the Community
United States
602 Posts |
Poll Question
This is my first poll, so let's see how it goes.
I want CCF forum members to vote this up honestly.
Reasons for your choice can be discussed below.
**Moderators: If this forum is in the wrong place, sorry. Go ahead and move it.
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Pillar of the Community
 United States
602 Posts |
I could not help but notice there were more views than votes. Please, if you are going to click on the page, at least vote before you click back to the forum page. Much appreciated. Thanks for voting.
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Moderator
 United States
187862 Posts |
Quote:
**Moderators: If this forum is in the wrong place, sorry. Go ahead and move it. Moved to the US Modern Coin forum.  I chose We should stop making the penny, of course .  Quote:
We should try to find alternate metals for the penny to make them cheaper. Impossible to do. Even if the metal were free, it would still cost more than a cent to make a cent. |
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Pillar of the Community
United States
602 Posts |
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Impossible to do. Even if the metal were free, it would still cost more than a cent to make a cent. Unless the mint lowers manufacturing costs. |
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Moderator
United States
187862 Posts |
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Unless the mint lowers manufacturing costs. Much easier said than done. These costs include labor (production and maintenance), machinery (maintenance and replacement), overhead (cannot do this in the cold dark), additional materials (hubs, dies), and shipping. They would need to cut the full sum by more than half (and in reality, more, since the previous mentioned materials are never going to be free). If anyone knows how to do it, please share. |
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Pillar of the Community
United States
602 Posts |
Labor: Isn't everything pretty much done by robots? Machinery: More efficient machines that do not break down as much or wear down slower. Overhead: Use more efficient lights :) Additional materials: Shipping: You got me there. This is a hassle, as I have to ship stuff for ebay and it is expensive unless you find the CHEAPEST possible way to ship stuff using certain boxes/etc. and combinations of them and labels/stamps/etc. Yuck. This is already a mess. |
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Pillar of the Community
United Kingdom
837 Posts |
How about switching and making the pennies from steel and then plating them with copper or something ?
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Pillar of the Community
Canada
2805 Posts |
Quote:
I could not help but notice there were more views than votes. An unavoidable situation, seeing as every page hit counts as a view - especially and including the nameless hordes of viewers and lurkers with no accounts to vote with. Add in the members who have already viewed this thread more than once, and... Pennies must be produced (brand-new electroplating equipment is needed for CPS or especially MPPS blanks), struck (dies wear out, machines wear out), distributed (vehicles need gas, pennies weigh a lot), etc... kill them! Kill them all! |
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Pillar of the Community
United States
1130 Posts |
If we did get rid of the penny, not only would it kill my roll hunting, also consider all of the penny charities. People throw in a ton of pennies to them because they think its just one cent. It would kill all of these type charities if we got rid of the penny.
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Pillar of the Community
Canada
2805 Posts |
These are secondary benefits, and not as important as the main objective - I've already gone through roll-hunting withdrawal symptoms (I'll never find a KGV penny in circulation now).
And penny charities can still take all the other change people have - according to certain forum members, it's completely unbearable to carry around all day anyway, so they should be happy to donate it all.
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Moderator
Australia
16809 Posts |
One option not given in your poll, which I have heard several people express sentiments in favour of in the past, is that production for circulation cents be ceased ASAP, but production for collector sets is continued. If they are made for collectors, they do not need to be made as cheaply as possible, since they will be sold for far more than 1 cent. So they could even be restored to the pre-1982 alloy.
Personally, it's not an option I am in favour of - I prefer "mint sets" to contain examples of coins that actually circulated. But it is an option for those who would seek a "third way" in between continuing to waste money producing worthless coins and altogether ceasing production of a favourite coin they collect.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
602 Posts |
Whoops. Submitted that without finishing it. Whatever:3 You get the idea.
I do not want to get too much into politics about this as I believe that that might break forum rules or something similar to that. I'll tell this, though; if the government wants to save some REAL money, they have to cut more than just pennies [and even nickels].
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Pillar of the Community
United States
602 Posts |
Sap : ["One option not given in your poll, which I have heard several people express sentiments in favour of in the past, is that production for circulation cents be ceased ASAP, but production for collector sets is continued."] ME: I do not buy mint sets, so whateves. Also, that is why I have the "other" category. I thought ahead  All I ask is that the voters vote honestly and independently of what other voters voted or may vote. |
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Valued Member
United States
131 Posts |
I think the penny being fazed out would lessen the chance for younger collectors to be interested in numismatics... how many amateur collectors start with penny sets? if we started getting rid of physical monies we would see the decline of numismatics a whole bunch, if mints kept producing for collectors and such then you'd see a spike in the coin prices cause they could ask whatever they wanted for them cause there's no chance of you finding one in your change... its a slippery slope when you start messing with the money supply but for me I think we should keep the Lincoln Penny around as long as possible especially with it being the longest running coin in history with a 100+ years behind it.... I do like the idea of making collectable copper pennies like pre 82... Bright shiny new copper looks awesome when in books or boards for display and like the 2009-2010 pennies with Abraham Lincoln history on them they would be highly collectable and well sought after for years.... this is just my 2 pennies of course for what its worth... PEACE ... |
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Pillar of the Community
United States
1109 Posts |
If we lose the U.S. cent, the Canadian cent will lose its refuge here in the U.S. and have nowhere else to go! I believe that as long as the U.S. cent circulates, the Canadian cent will still survive. For me, evidence lies in the Canadian cents I always find while CRHing.
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Pillar of the Community
United Kingdom
2133 Posts |
Cost of production should not be a significant factor in making a decision to withdraw the penny.
If the penny is withdrawn, then all prices ending in 1c, 2c, 3c, 4c etc will be rounded up to the next 5c.
The minimum price rise for anything will be 5c, adding significantly to retail price inflation.
People will put up with being poorer or demand higher wages; either way the economy will suffer.
If pennies are worth more than 1c in metal then irrespective of the legal position, people will save them and /or melt them down; in that case the penny should be made out of a cheaper material.
The role of the penny is to help keep prices down, so it's in your interests to ignore the cost of production - the government might need to subsidise manufacture.
I wonder whether the manufacturing cost calculation reflects political demands or physical requirements and how indirect costs are apportioned.
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Replies: 99 / Views: 9,540 |
Posted 10/01/2013 12:12 pm
