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 Replies: 93 / Views: 10,226 |
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Valued Member
United States
374 Posts |
Do you think we will see the penny disappear within the next ten years?
*** Moved by Staff to a more appropriate forum. ***
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Pillar of the Community
 United States
4587 Posts |
No... would require entirely too much work on behalf of Congress.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Moderator
 United States
187582 Posts |
Yes. Minting cents for circulation is already too expensive The cumulative rate of inflation for last ten years is 22.2%. I cannot imagine the next ten years being any better. As public awareness increases, so does the likelihood of something being done.
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New Member
United States
46 Posts |
Common sense would suggest yes, but we are talking congressional approval here, so don't hold your breath.
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Pillar of the Community
United States
589 Posts |
All of you are too generous. In 10 years, the US Dollar will have collapsed, along with the world economy.
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Pillar of the Community
Canada
2805 Posts |
Then shouldn't you be doing something more important?
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Moderator
United States
187582 Posts |
The mint is self funded. Minting cents and nickels already eats into seigniorage. At some point the cost of cents (and nickels) will exceed what the mint takes in. When that happens the mint will have to ask Congress for money. I bet we would see some congressional action then.  |
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Rest in Peace
United States
2668 Posts |
With time-lapse photography and zincoln cents, probably doable.
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Rest in Peace
United States
18456 Posts |
I had a similar thread going awhile back. my prediction was YES, they will stop making the Lincoln Cent in 2017. mostly all members disagreed on the year. We shall see !---  |
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Valued Member
United States
214 Posts |
There is no way to make a coin for less than a penny (unless maybe plastic) so it can't last much longer.
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Pillar of the Community
United States
2270 Posts |
When you need a wheel barrow fullof $100 bills to do your grocery shopping you may still get a penny change. This is what we all do best now days; spending and inventing money.
I never believed there was any scenario by which the penny could survive the 1990's.
Time don't fly, it bounds and leaps.
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Moderator
United States
187582 Posts |
Quote:
With time-lapse photography and zincoln cents, probably doable.  Quote:
There is no way to make a coin for less than a penny (unless maybe plastic) so it can't last much longer. The process alone cost more than a cent each, so even free material will not work. |
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Pillar of the Community
United States
4867 Posts |
Sadly I don't think the penny is going anywhere anytime soon. Other countries have successfully done it but for some reason we won't even though it makes economical sense to discontinue them.
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Pillar of the Community
United States
982 Posts |
Just like the Kennedy half dollar, demand and economics may cause the US Mint to stop striking cents for circulation, but you can rest assured that it will continue to strike Lincolns for many years to come to sell to collectors at a premium. |
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Pillar of the Community
United States
562 Posts |
Circulation strike Lincoln cents? Yeah, probably gone by 2020. Uncirculated, proof, reverse proof, enhanced uncirculated Lincoln cents? Certainly around for a long time as the mint could make money off them.
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Pillar of the Community
United States
982 Posts |
I wonder how much the U.S. Mint will charge for a roll of Lincoln Cents once it stops striking them for circulation...
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Replies: 93 / Views: 10,226 |
Posted 09/12/2015 8:43 pm
