Myers Depot Metal Detectors

New Penny Make-Over

Although some of you may consider this balsphemy...we need to get rid of pennies. We should no longer make them. As reported last year, they cost more to make than what they're worth and people could care less about picking a penny off the floor.
 
Hmmmmmm......

FelixtheCat said:
Although some of you may consider this balsphemy...we need to get rid of pennies. We should no longer make them. As reported last year, they cost more to make than what they're worth and people could care less about picking a penny off the floor.
Click to expand...

No offense, but we pick up every penny (and other coin) we find! They all go in big jar in the kitchen, and it gets rather full. The last thing I want my kids thinking is that we have so much, we can ignore money laying in a parking lot! ;)

Also, the penny is the most exchanged coin out there--the US Mint has looked into eliminating it, but current usage of the penny slows this effort. I do agree though, the penny would not be missed by me. But as long as it's laying around, I'll pick it up--picked one up this morning at the gas station in fact!

:cool:
 
I think that EVERYBODY in this forum would pick a penny up! :yes: We dig for them, one lying on the ground is just easy pickens! :D
 
I think there's a big difference between picking up pennies, which is finding money for free, and paying to mint pennies, which is throwing money away (unless we change the composition to something cheaper).

There will always be pennies in the ground for us to find, and we'll always be able to spend them: they will remain legal tender even if we stop making them. However, they cost so much to make that we should phase them out. I think we could get by with nickels being the smallest coin.

Or we could switch to aluminum, and man, wouldn't that show up like a pull tab?
 
FelixtheCat said:
Although some of you may consider this balsphemy...we need to get rid of pennies. We should no longer make them. As reported last year, they cost more to make than what they're worth and people could care less about picking a penny off the floor.
Click to expand...

Maybe they've been keeping the penny around just for the 100th anniversary (1909-2009), and will do away with it soon after. The Mint does make a profit on these special issues (State Quarters, Jefferson nickels) for collectors. I hope they dump the penny soon, then in 10 years or so all the zlincolns will corrode away in the soil. :lol:
 
I do not think it will take ten years for the zincolns to disappear... at least in most soil...dry sand would be an exception. I always pick them up, as most of us do... The new cents will celebrate the centennial of the Lincoln cent.. with four reverse designs to be issued quarterly. Will be interesting for collectors. One of the big hangups with eliminating pennies is the sales tax.. people just do not trust the 'round-up/round-down' concept. Several articles have been written about this in coin magazines. RickO
 
RickO said:
I do not think it will take ten years for the zincolns to disappear... at least in most soil...dry sand would be an exception. I always pick them up, as most of us do... The new cents will celebrate the centennial of the Lincoln cent.. with four reverse designs to be issued quarterly. Will be interesting for collectors. One of the big hangups with eliminating pennies is the sales tax.. people just do not trust the 'round-up/round-down' concept. Several articles have been written about this in coin magazines. RickO
Click to expand...

I wasn't even thinking of the rounding issue with tax--I agree...will be difficult. If they round down, I'm OK with it!

;)
 
People still want the penny. Rob
 

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The one thing I love about the penny is that little reminder printed on the front, if they remove that they should just dump the stupid penny.......
 
a nickel for your thoughts?

FelixtheCat said:
Although some of you may consider this balsphemy...we need to get rid of pennies. We should no longer make them. As reported last year, they cost more to make than what they're worth and people could care less about picking a penny off the floor.
Click to expand...

Maybe if we get rid of the penny, the value of what we have will go up, nickels will become more ubiquitous and more frequently dropped, and in 30 years I'll be pulling old nickels out of the ground like I'm pulling pennies now.

Of course in 30 years the nickel won't be worth a penny. . .
 
I personally am not a fan of all these collector style coins... these, and the State Quarters are kinda meh. Though I think the Tennessee Quarter is worth like $0.75, haha. Anyway... bah, they should just stick with the memorials, and maybe make special $5 bills instead with Lincoln.
 
Not concerned with the cost of a penny..

everyone says it cost 1.3 cents to make 1 cent. So what. The government doesnt make things to make money. They make it to support our commerce. There are plenty of things they waste money on that are wayyy less important than the penny, Trust me I know, I work for the government....
 
Notice there is no In God We Trust on the new design.
 
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