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 Replies: 54 / Views: 6,065 |
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Pillar of the Community
United States
1388 Posts |
What will you do?
If the US goes the Canadian route of pulling them from circulation and melting them, does anyone plan to go to banks and buy boxes to preserve?
I know I will.
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Rest in Peace
United States
18456 Posts |
Absolutely not ! I plan on going through my entire hoard of wheat cents & memorials , singles ,sets ,
rolls ,etc. and try to figure out how much they could worth, now and in the future.
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Valued Member
United States
368 Posts |
i will for sure go to banks and buy boxes. the most I would buy is $500 worth though
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Moderator
 United States
188001 Posts |
I think there will be a run on the banks.  |
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Pillar of the Community
Canada
1747 Posts |
Some people up here bout several thousand $'s worth, but depending on how strict your banks are when this may happen, its not the end. I have been buying pennies for the last 3 years, and I can get up to 4 to 5 boxes a week (on better weeks)
I figure I will still be able to get pennies for 2 more years ( I hope)
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Pillar of the Community
United States
900 Posts |
My interest in US cents ended when the Mint began producing the shield cent. So, whatever happens now is of no interest to me.
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Pillar of the Community
United States
2200 Posts |
Th cent will never die. US politicians are too scared to get rid of it.
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Pillar of the Community
United States
900 Posts |
One more thought on this subject, people have been talking about eliminating the cent as long as I can remember. Glad I didn't hold my breath.
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Pillar of the Community
United States
1566 Posts |
Quote:
Th cent will never die. US politicians are too scared to get rid of it. I'm sure lobbyists from zinc producing states will keep that from happening. Even though I'm a cent collector I don't plan on obtaining any more than I already have. In fact I have about 10 rolls of common wheats that I'm waiting to give to some deserving kid or kids to help jump start their collections. Edited by Celticsoul
01/20/2015 8:00 pm
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Moderator
United States
188001 Posts |
Quote:
Th cent will never die. US politicians are too scared to get rid of it. I disagree. It is not fear of the people at least. Quote:
I'm sure lobbyists from zinc producing states will keep that from happening. I agree. The politicians will do what the lobbyists pay them to do. They have absolutely no fear of the people; they know how they get/got elected. It is not just that we need to convince them it is right. Most of them know it is right to eliminate cents and nickels. Nothing will change until a more powerful (money) force gets behind the idea. |
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Pillar of the Community
United States
1158 Posts |
Would all the junk circulated pennies be worth anything even if they become somewhat rare? I can buy a small pile of heavily circulated pennies from over 100 years ago for $2. http://www.ebay.com/itm/Indian-Head...em3f4228427aHow long since all those left the banks and federal reserve? And there were literally 1/1000th as many of those Indian Head cents minted vs Lincoln cents. Literally hundreds of billions of pennies have been minted. Even if every penny from the bank was taken this very day and melted, there would still be tens of billions out there. The chance of them ever being rare is so small it couldn't be graphed. The key dates and rarities have already been pulled from circulating stock over the decades. Any penny hoarding would just be hoarding junk copper. |
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Pillar of the Community
United States
1373 Posts |
I'm thinking that I too would get about 10 boxes to hang on to. Technically, no, they might never be 'rare', but I do know that it's a lot tougher now to get cheap (face value) cents from the Canadian side of the river. Quote:
I can buy a small pile of heavily circulated pennies from over 100 years ago for $2. The 'small pile' you mention for $2 is for "ONE" cent; or it will cost you $100 for a roll. If I could ever get $1.00 for a roll of Lincoln cents I'd be extremely happy. |
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Pillar of the Community
United States
900 Posts |
Quote:
Would all the junk circulated pennies be worth anything even if they become somewhat rare? They wouldn't be any more rare than they are right now. A rotted 1984 LMC is worth as much today as it would be next Friday if Congress declared an end to the US Cent. They won't any more 1984 LMC's between now and then. |
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Pillar of the Community
United States
1158 Posts |
Well the rest of my post you didn't quote was me saying just that, so I agree with you completely.
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Pillar of the Community
United States
900 Posts |
It wasn't my intention to disagree. I was simply presenting a nuance of your point. I agree with you completely.
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Pillar of the Community
United States
1158 Posts |
Are we now arguing about agreeing?  Edited by tkbslc
01/21/2015 2:15 pm
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Replies: 54 / Views: 6,065 |
Posted 01/20/2015 5:37 pm
