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 Replies: 16 / Views: 1,976 |
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Pillar of the Community
United States
577 Posts |
Is it really worth all of the effort to set aside and roll Pre 1982 pennies? I have been doing so from my change, and I have around 50 rolls so far. How many rolls would I have to have in order for this tedious process to pay off? When will it be financially acceptable to melt these coins, and will there actually be places to melt them? Thanks for the input!
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Pillar of the Community
 United States
577 Posts |
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Bedrock of the Community
United States
14454 Posts |
I am not sure I would melt any pre-82 cents, because if they stop making the Lincoln Cent in 2009 the price of them will probably start a upward trend and maybe a pretty fast one |
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Valued Member
United States
236 Posts |
There was more talk on TV today- about abolishment of the cent- as most likely inevitable. So hang on to those little Lincolns even if they do have some zinc- And of course the Mint has been trumpeting the removal of these historical pieces as too expensive to continue to make. AS Bryan has said- there will no doubt be an upward spiral in prices- (better than bank interest). It also seems inevitable that we are headed for a cashless society- Without a doubt, our society has that plastic mentality. Dewey
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Valued Member
United States
55 Posts |
I believe that I saw a number of UNC rolls of 1962 cents in our collection ... Are they worth anything other than change?
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Valued Member
United States
95 Posts |
I'm impressed that you manged to gather 2,500 pre-'82 pennies from just change ... You must make a large amount of cash transactions!
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Pillar of the Community
United States
604 Posts |
Then I guess all of us should start hoarding now before it's to late! So lets start hoarding before the take the historic cent away
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Pillar of the Community
United States
577 Posts |
No, but I do have a container by the family piggy bank specially for them. Also, I bought 6 or 7 rolls of pennies a month ago, and 90 percent of the coins were copper! I was really shocked! Thats why I started rolling these little guys.
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Valued Member
United States
177 Posts |
on the day after cristmas in 2008, I am going to ask the bank for $100 in pennies! I hope the floor to my apartment dosent cave in! LOL!
Edited by FYI
06/23/2006 6:17 pm
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Pillar of the Community
United States
4867 Posts |
How could we live w/o the cent though? How can items in the store come out exactly where there isn't any pennies involved?
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Pillar of the Community
United States
986 Posts |
Well, seeing as many people are just breaking out the plastic for every purchase, there really getting to be no need for cash transactions. Now that's not saying that there still won't be cash transactions, but they're getting pretty scarce. Also, lots of people just dump whatever pennies they get in change into the "tips" jar or something like that.
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Pillar of the Community
United States
2365 Posts |
The thoughts behind the proposed legislation are that prices and taxes would be rounded up to the closest nickel. That means, higher prices and higher taxes just because "some" want to eliminate the cent. A lot of companies (ie: oil companies) have made a lot of money over the years with the .9 therefore, there will be high dollar disagreements with any proposed legislation to eliminate the cent. There have been atleast 2 proposals that have reached Congress over the last few years and Congress was not impressed nor interested.
The "hoarding" buffaloboy is primarily pre-1982 Copper. Some of the proposals that I have seen will keep Monticello and re-design the Obverse. Anyone else see other proposals for the 2009?
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Pillar of the Community
United States
4867 Posts |
I read an interesting article today concerning nickels. It would seem that there has been some talk about a composition change or making the nickel slightly smaller and making the dime a little bigger as its the larger of the two denominations.
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Member
United States
1154 Posts |
That would be a really big change. Changing the size of currency to match the denomination. This should have always been since the dime is the bigger of the 2 denominations
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Pillar of the Community
United States
4867 Posts |
True, and also money would be saved making the nickel smaller. Metal prices are going up so it would make sense.
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Pillar of the Community
United States
2365 Posts |
Did you all know that the Nickel was started to replace the small cents way back when? I found this obscure sentence in my 1970 Whitmans price guide.
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Replies: 16 / Views: 1,976 |
Posted 06/21/2006 01:12 am
