http://news.nationalpost.com/2013/02...enny-last-day/
The nickel will be next.
Nickel candy just doesn't sound right. Or nickel ante. Or "a nickel for your thoughts." Or, "you clean up like a new nickel." Or Nickel Lane.
This was announced last year. Canadian pennies have been steel for about 10 years already, which cost a fraction of a cent to mint.
I wouldn't mind if they did that here. After all, it costs what, 1.7 cents to mint a cent?
Canadian pennies were made of copper to 1996 .
because of inflation. As Ron says, they can't even keep a zinc standard.Quote:
Originally Posted by kcchiefs6465
Their bills all try to slip in that the Fed would have control in the future to change the metals of coins whenever they want.
In the US , to 1981 .
Canada also used silver a few years longer than the US.
Last I looked , about two cents for a penny and around 11 cents for a nickel.Quote:
Originally Posted by kcchiefs6465
I'm trying to think of a Superman III, Office Space way of capitalizing on all this "rounding to the nearest 5 cents". Anyone have any ideas? I'm sure their government already has a plan.
Without the inflation from central banking they could still make pennies from solid copper.
Ironically, stray pennies found will probably be worth much more as a result of this.
That's a pretty accurate tesitmony to the 'great work' the Federal Reserve has done.Quote:
Originally Posted by oyarde
A US copper penny has about 2 1/2 cents of copper in it , Copper running about $3.76.Quote:
Originally Posted by PaulConventionWV
So if I bring them 2,3, o4 4 pennies will they round up for me?
Screw that.Quote:
Originally Posted by TonySutton
http://en.wikipedia.org/wiki/Penny#First_pennies
A pennyweight is something very specific. One pennyweight = 1/20 of a troy ounce. One troy ounce = 1/12 of a troy pound.
A penny is specifically a coin of exactly one pennyweight.
Original pennies were silver. There are multiple reasons for this. Silver is easier to work than copper, has a lower melting point than copper, and is much more valuable.
The English Pound Sterling is supposed to be exactly that: a troy pound of sterling silver. And a penny is supposed to be 1/240 of a troy pound of silver.
At today's prices, one penny should be roughly $1.58 of federal reserve funny money.
Screw copper. Let's take the penny back to the 9th century.
:) Or maybe you are not suppose to have those.Quote:
Originally Posted by bolil
The Canadian mint even has minted a silver ounce with the maple leaf commemorating the death of the penny.
Some , a few , before 1932 are worth hundredsQuote:
Originally Posted by PaulConventionWV
Till 1968 vs 1964 for the US.Quote:
Originally Posted by oyarde
Yeah , but some of the 1968 were 50 % silver.Quote:
Originally Posted by Confederate
As of December 2012, it cost two cents to make and distribute a penny. http://news.coinupdate.com/cost-to-m...ce-value-1751/ and the penny today is 2.5% copper and the rest zinc so that would mean it really has about .05 cents worth of copper in it (actually even less since the two cents includes making and distributing it. The metal content was worth 1.63 cents (listed at link as "cost of goods sold") so it is really .04 cents worth of copper in today's pennies.Quote:
Originally Posted by oyarde
So we should use it as leverage to bring the Fed in line with non inflationary sound money, right?Quote:
Originally Posted by Zippyjuan
The 95 % copper pennies are before 1982.Quote:
Originally Posted by Zippyjuan
I do not keep modern pennies, just flush them in the free coin counter at the bank along with nickels , dimes and quarters and deposit it in checking account.The real copper pennies , I keep , about a dozen makes an ounce. I keep them and seperate of wheat pennies that are common, after 1935 or so . The 1959 - 1981 copper cents in one storage , the 1935 to 1942 and 1944 - 1958 in another.The1943's are steel and worth around, at least 15 cents ea, the 44-46's are made of recycled shell casings from the war .The nickels from 1942 - 1945 are 35 % silver , easily identifiable without reading the date , flip it over, if there is a large mintmark , (P, D or S ) above the top of the dome , you are in.Quote:
Originally Posted by Zippyjuan
Oh, too bad there's a law against defacing US currency...Quote:
Originally Posted by oyarde
I am unconcerned .I save them , if I need them , there will no be no threat of enforcement , my guess :)Quote:
Originally Posted by PaulConventionWV
I mentally picture #1 buckshot balls, arrow heads and one ounce rounds :)
I'm in Canada and this is kind of a bummer. I use pennies for all sorts of things. If you fly RC planes they are great for weight/balance adjustment, and just weighting things in general.
Or you can make medieval armor out of them.
http://t1.gstatic.com/images?q=tbn:A...6xK11vQQF4gyQE