What Will I Do With All These Pennies

What did Canada do when they stopped minting cents?
John1

Are you referring to this article?: https://cashmoneylife.com/us-mint-c...01%2C%202022.

It is way past time for any buy back program to have been instituted. Most of what the government would be buying back would be mainly zinc.
Some pennies made in 1982 were copper and some were copper plated zinc. After 1982 all pennies made for circulation are copper plated zinc.

People did sort out and hoard copper pennies back during the 2nd Great Depression which we suffered though starting around 2008-2009. Copper was hoarded b/c metal prices were soaring due to what happens whenever the economy tanks: People buy precious metals.

The economy got better, metals went down, and people were asking asking what in the world they were going to do with all their hoarded copper. Basically I believe a lot of the cents were dumped back at the banks. I also do not doubt that despite it being illegal, some people were melting the copper cents and making bars out of them.




Forgive me. Former teachers find it hard to break habits: "...lose their..."

Better date cents will most likely keep their value. There would be no reason for better cents not to retain value since these collectors' items are in no way connected to copper plated zinc cents being made and distributed each year.

the cent is never retiring, why? Because they get tossed everywhere and it pays to advertise and maybe 1000 years form now people will still be finding them all over the world and say "hey, this United States of America, really must have been a great civilization, they are on the ocean floor, they are in space, they are in Antarctica and the Arctic Circle and everywhere in between!

it pays to advertise same like the roman coins. besides, at this point there's nothing you can even buy for a quarter, so maybe just retire all fractional forms of dollars and round up to the nearest "1" dollar. Make coins starting from there if you like $1 $5 $10 $25 $50 $100 and $1000 and get rid of paper money or get rid of the coins.

if this happens, it happens due to inflation and less than $1.00 coinage in general won't make any sense anymore. it barely makes any sense now nobody uses .50 or $1.00 coins, nobody uses coins in general really thy break a $20.00, the coins get cast to the side.

this has been speculated since at least 1974 and it hasn't happened since then, it's unlikely to happen any time soon.

one thing is for sure. If the cent costs too much to make and should be retired, then the same should happen to the nickel since it costs 11.2 cents to make a nickel or do you suggest we make the current nickel exactly like we make the cents right now after the cent is phased out, and drop it to a copper plated zinc planchet the size of a cent that says 5 cents?