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Thread: Canada eliminates penny, will collect & melt down, will round to nearest 5 cents

  1. #1

    Default Canada eliminates penny, will collect & melt down, will round to nearest 5 cents

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  3. #2

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    The nickel will be next.
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    Quote Originally Posted by otherone View Post
    The reason we have an evil, immoral empire is that it is populated by evil, immoral peons. The State isn't a faceless monster...it is composed of all our petty, ignorant, self-righteous and self-absorbed neighbors.

  4. #3

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    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.
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  5. #4

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    This was announced last year. Canadian pennies have been steel for about 10 years already, which cost a fraction of a cent to mint.

  6. #5

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    I wouldn't mind if they did that here. After all, it costs what, 1.7 cents to mint a cent?
    “The nationalist not only does not disapprove of atrocities committed by his own side, but he has a remarkable capacity for not even hearing about them.” --George Orwell

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    Canadian pennies were made of copper to 1996 .

  8. #7

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    Quote Originally Posted by kcchiefs6465 View Post
    I wouldn't mind if they did that here. After all, it costs what, 1.7 cents to mint a cent?
    because of inflation. As Ron says, they can't even keep a zinc standard.

    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.
    "Integrity means having to say things that people don't want to hear & especially to say things that the regime doesn't want to hear.” -Ron Paul

    "Bathtub falls and police officers kill more Americans than terrorism, yet we've been asked to sacrifice our most sacred rights for fear of falling victim to it." -Edward Snowden

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    In the US , to 1981 .

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    Canada also used silver a few years longer than the US.
    Last edited by oyarde; 02-06-2013 at 10:55 AM.

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    Quote Originally Posted by kcchiefs6465 View Post
    I wouldn't mind if they did that here. After all, it costs what, 1.7 cents to mint a cent?
    Last I looked , about two cents for a penny and around 11 cents for a nickel.

  12. #11

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    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.
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

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  13. #12

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    Without the inflation from central banking they could still make pennies from solid copper.
    Insanity should be defined as trusting the government to solve a problem they caused in the first place. Please do not go insane!

  14. #13

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    Ironically, stray pennies found will probably be worth much more as a result of this.
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    Quote Originally Posted by oyarde View Post
    Last I looked , about two cents for a penny and around 11 cents for a nickel.
    That's a pretty accurate tesitmony to the 'great work' the Federal Reserve has done.
    “The nationalist not only does not disapprove of atrocities committed by his own side, but he has a remarkable capacity for not even hearing about them.” --George Orwell

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    Quote Originally Posted by PaulConventionWV View Post
    Ironically, stray pennies found will probably be worth much more as a result of this.
    A US copper penny has about 2 1/2 cents of copper in it , Copper running about $3.76.

  17. #16

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    So if I bring them 2,3, o4 4 pennies will they round up for me?
    Best of luck in life.

  18. #17

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    Quote Originally Posted by TonySutton View Post
    Without the inflation from central banking they could still make pennies from solid copper.
    Screw that.

    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.
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    Quote Originally Posted by bolil View Post
    So if I bring them 2,3, o4 4 pennies will they round up for me?
    Or maybe you are not suppose to have those.

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    The Canadian mint even has minted a silver ounce with the maple leaf commemorating the death of the penny.

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    Quote Originally Posted by PaulConventionWV View Post
    Ironically, stray pennies found will probably be worth much more as a result of this.
    Some , a few , before 1932 are worth hundreds

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    Quote Originally Posted by oyarde View Post
    Canada also used silver a few years longer than the US.
    Till 1968 vs 1964 for the US.

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    Quote Originally Posted by Confederate View Post
    Till 1968 vs 1964 for the US.
    Yeah , but some of the 1968 were 50 % silver.

  24. #23

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    Quote Originally Posted by oyarde View Post
    A US copper penny has about 2 1/2 cents of copper in it , Copper running about $3.76.
    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.
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    Quote Originally Posted by Zippyjuan View Post
    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.
    So we should use it as leverage to bring the Fed in line with non inflationary sound money, right?
    "Integrity means having to say things that people don't want to hear & especially to say things that the regime doesn't want to hear.” -Ron Paul

    "Bathtub falls and police officers kill more Americans than terrorism, yet we've been asked to sacrifice our most sacred rights for fear of falling victim to it." -Edward Snowden

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    Quote Originally Posted by Zippyjuan View Post
    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.
    The 95 % copper pennies are before 1982.

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    Quote Originally Posted by Zippyjuan View Post
    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.
    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.

  28. #27

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    Quote Originally Posted by oyarde View Post
    A US copper penny has about 2 1/2 cents of copper in it , Copper running about $3.76.
    Oh, too bad there's a law against defacing US currency...
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    Quote Originally Posted by PaulConventionWV View Post
    Oh, too bad there's a law against defacing US currency...
    I am unconcerned .I save them , if I need them , there will no be no threat of enforcement , my guess

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    I mentally picture #1 buckshot balls, arrow heads and one ounce rounds

  31. #30

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    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.
    Last edited by Expatriate; 02-12-2013 at 03:38 PM.
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