Myers Depot Metal Detectors

Drop the penny?

I actually saw a news story about this not too long ago. It was saying how pennies (and I think nickels and dimes) here in the states cost more to produce than the actual face value of the coins. They were discussing how much money would be saved if pennies were eliminated, and weighing the benefits of making a $1 coin to replace the dollar bill.

I for one would not mind getting rid of the pennies. Our money has already been so devalued by cheap "filler" metals that it already has practically no value. :mad: And then there'd be less crusty eroded Zincolns to pick up.
 
I can't tell you how much your missing out on $1 and $2 coins. Doesn't take much to add up to a lot of clad. I do feel sorry for some clerks though seems like they can't round too well without a penny
 
Dollar Coins

We have dollar coins here in the U.S., and still make the penny. I am waiting tell we quit making the penny, cause I have about 160 lbs of the copper cents. I heard that most people want to keep making the penny. Most people here in the states don't like the dollar coins, and the stores don't have a pocket in their cash register to put them.
HH everyone
 
hikerdude said:
We have dollar coins here in the U.S., and still make the penny. I am waiting tell we quit making the penny, cause I have about 160 lbs of the copper cents. I heard that most people want to keep making the penny. Most people here in the states don't like the dollar coins, and the stores don't have a pocket in their cash register to put them.
HH everyone
Click to expand...

True about the cash drawers not having a place for dollar coins unless... we get rid of the penny. That frees up a spot for dollar coins. Take the penny out, and shift everything to the left one slot. Still though, it takes a lot to change the culture of having pennies and dollar bills.
 
I'll tell you who would loves those one and two dollar coins-pan handlers,
and charitable organizations out on the streets trying to collect money.
People will grab what ever loose change they have in their pockets to throw
In a hat and that includes dollar coins.
And yes that also means people's clad counts would go way up.:lol:
 
the penny might cost more to make than it's value but if they would go back to making them out of copper they would probably be worth it. You can dig a zinc a few years old that is toast and a wheat decades old that is still in fairly good shape.
 
hikerdude said:
We have dollar coins here in the U.S., and still make the penny. I am waiting tell we quit making the penny, cause I have about 160 lbs of the copper cents. I heard that most people want to keep making the penny. Most people here in the states don't like the dollar coins, and the stores don't have a pocket in their cash register to put them.
HH everyone
Click to expand...

Yeah we have $1 coins, but they're mainly for collectors. No one buys anything with them.

I actually didn't know Canada axed their pennies. I still find quite a few of them just across the border in Wisconsin. I wouldn't mind if we got rid of ours- they're practically worthless anyway. I don't see it happening in the near future, though. We here in the U.S. tend to be pretty resistant to change- hence why we still use the English Imperial standard of measurement instead of the metric system.
 
I like pennies. I CRH penny rolls a lot. I suppose the US will get rid of them eventually, but I'm going to get them while I can.

Canadian pennies still show up in US coin rolls, but of course, they are getting harder to find. They're certainly more common than wheats.
 
GabbityGabby said:
Yeah we have $1 coins, but they're mainly for collectors. No one buys anything with them.

I actually didn't know Canada axed their pennies. I still find quite a few of them just across the border in Wisconsin. I wouldn't mind if we got rid of ours- they're practically worthless anyway. I don't see it happening in the near future, though. We here in the U.S. tend to be pretty resistant to change- hence why we still use the English Imperial standard of measurement instead of the metric system.
Click to expand...

Yeah, Once I gave the store cashier a dollar coin in my payment and she counted it as a quarter, till I told her "that there is a dollar coin". I think if they do drop the paper dollar and we HAD to go with the dollar coin they would (begrudgingly at first) become accepted by the public. As a MD'er, I wouldn't mind that at all. They add up MUCH quicker than quarters. :D
 
GLASSHOPPER1955 said:
Yeah, Once I gave the store cashier a dollar coin in my payment and she counted it as a quarter, till I told her "that there is a dollar coin". I think if they do drop the paper dollar and we HAD to go with the dollar coin they would (begrudgingly at first) become accepted by the public. As a MD'er, I wouldn't mind that at all. They add up MUCH quicker than quarters. :D
Click to expand...

True, lol. :grin: I found a dollar coin while metal detecting last year and was pretty thrilled. Imagine if finding dollar coins was common. :shock: :D
 
But then the sales people couldn't make prices sound better ($99.99 vs $100.00). This country's economy would collapse :lol:
 
Silversmith45 said:
the penny might cost more to make than it's value but if they would go back to making them out of copper they would probably be worth it. You can dig a zinc a few years old that is toast and a wheat decades old that is still in fairly good shape.
Click to expand...

Exactly...I've found some of those shield pennies on the beach about 6 months after they were released, completely toasted in half.

I've been hearing the US planning on getting rid of the penny for many years. Who knows if its rumors or what but I think with all the money the government will be saving they should put it into educating teenagers that have cashier jobs on how to add .01 to .99. It blows my mind how people can not do simple math in their head. If they put their phones down for 3 seconds and pick up a book they might just learn something.
 
Without the penny how would you get your exercise bending over picking them up? It's at least worth keeping them in circulation for that reason. And without the penny how would people pay you "a penny for your thoughts"? We would never be able to say "A penny saved is a penny earned" anymore. I just don't see it going away any this soon.
 
You must log in or register to reply here.

Similar threads

Rudy
Magnet Fishing Yields New Evidence
Replies
6
Views
151
mudwhale
mudwhale
maxxkatt
Fun comparison of our members with the members of the Danbury Metal Detecting Club
Replies
5
Views
143
CountyWorker
CountyWorker
GTimberMT
Short story about pull tabs! You never know!!
Replies
0
Views
128
GTimberMT
GTimberMT
60streeter
FAVORITE TIME OF YEAR
Replies
4
Views
113
cellrdwellr
cellrdwellr
C
My new display case
2
Replies
21
Views
287
maxxkatt
maxxkatt
Back
Top Bottom