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Pillar of the Community
United States
5238 Posts |
*** Moved by Staff to a more appropriate forum. Previously posted in US Modern Variety and Error Coins. ***I had seen on the news that the mint may cease Lincoln Cent production. Thoughts?
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Moderator
 United States
56855 Posts |
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Pillar of the Community
United States
4618 Posts |
I would really hate to see this happen. I've seen stories on both stopping production and keeping the coin for the foreseeable future. I'm not sure what will happen or when.
Maybe the COVID-19 coin shortage will have an effect on the future of the cent, but again that could go either way.
ANA ID: 3203813 - CONECA ID: N-5637 Clean a coin that may be worth collecting? Please DON'T! When in doubt, leave it dirty!! 
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Bedrock of the Community
United States
10034 Posts |
They keep saying this. Yet no action is taken. You can see many discussions about this here on this forum. I hate the thought of it happening, but also admit there is no good reason to keep making them. The mint already loses money on cent production, but they make quite a bit on some denominations so they are losing nothing by its continuation.
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Pillar of the Community
United States
1667 Posts |
I've been listening to "They are going to stop making the cent" since the 1970s.
it's still here. This speculation happens every single year, it's like writers run out of things to write about or something and say, "awww heck, lets just run the kill the cent story again that will get us through vacation!"
LOL
I suppose eventually it will actually happen, so far it's been 50 years of waiting for "eventually" to happen.
Edited by Big-Kingdom
07/30/2020 12:28 pm
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Bedrock of the Community
United States
19130 Posts |
Would be fun to track ebay selling data on unopened Lincoln Cent boxes over the last 10 years--and monitor over the next 12 months. Any correlation with 'drop the cent' news features? The most current discussion here: http://goccf.com/t/378293Edited by ijn1944
07/30/2020 12:35 pm
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Valued Member
United States
236 Posts |
It does cost 2.06 to make a penny and 7.53 cents to make a nickel,,,,losing money.
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Pillar of the Community
 United States
5238 Posts |
The US Mint has announced the last batch of Lincoln Cent will be minted in April 2022. |
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Valued Member
Finland
294 Posts |
Finally! "Starting in late 2021, the US Government will begin "Pennies for Freedom," a penny reclamation campaign designed to collect the estimated 23 trillion unused pennies sitting in people's homes and coin jars.
The pennies will then be melted and the copper will be used for green energy projects throughout the US. This is part of the Trump Administration's plans for reducing US dependence on foreign energy." Source: https://cashmoneylife.com/us-mint-c...-production/ |
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Pillar of the Community
United States
3486 Posts |
The last real barrier to dropping the one cent coin was the introduction of the "forever stamp" back when. I remember to this day standing in line at a post office to make the grand purchase of two, one cent stamps. Receipt: $.02!
Now, the only real reason to moan and complain is by the collectors of cents whose albums have extra holes with nothing to put into them!
Edited by matthewvincent
07/30/2020 2:24 pm
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Pillar of the Community
United States
3281 Posts |
Interesting. I've been reading up on the situation and articles from decades ago are saying the same thing they are now.
I honestly doubt any effort will be made, but who knows.
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Bedrock of the Community
United States
19130 Posts |
Wonder if the 23 trillion figure cited above includes proofs and steel cents. Also, all those cents mostly lost to time--at the bottom of the Pacific, Atlantic, etc; tossed into the surf, lakes, rivers, and geysers for good luck, etc. I doubt many collectors would empty their albums and crack open slabs to give back those Lincoln cents. If there is a call for patriots to offer up their cents, I wonder what the final number recovered would be--a few billion? And what would one find on ebay? Thoughts? Edited by ijn1944
07/30/2020 3:27 pm
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Moderator
United States
187881 Posts |
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Replies: 12 / Views: 2,732 |
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Posted 07/30/2020 11:58 am
