POLL - How would you feel if they stopped making pennies ?

[Xxray]

Didn't see the create poll option available in most forums.

No matter, simple question.
Would you be in favor of elimination of pennies from being minted ?

I myself would be elated, I'd go further and outlaw their use, ban them from circulation.
They make them so cheap now that the logic that future detectorists will enjoy finding clad is invalid, there will be nothing to find of modern pennies in years, to say nothing of decades.
They rank slightly above a bottecap for me, I very often ignore them especially at tot lots. As far as spending them, very rarely are they ever used, most stores round up or round down to the nearest nickel at least, they are literally useless and a nusiance, not to mention they cost more to make than they are worth.

 

[vmc1161]

I was told once that they cost 3.5 cents to make. I think if they don't do away with them they should offer 2 cents each to return them. They clean them up and get rid of the yucky ones. That way at least maybe some money is saved, just remember we are talking about the government so who knows.

 

[LovestheShiny!]

Technically, the USA does not mint pennies, we mint cents. England had the penny, we had the cent (1/100th of a dollar). As to continue minting them, young people today (our future) just toss them on the ground and use plastic to buy stuff, so no loss to stop minting them.

 

[hoser]

Scrap copper is going for approximately $2.80 a pound. There are 181 copper pennies to 1 pound weight. Buy or build your own gas melting furnace and melt all of the pre 1982 pennies into bars. $.99 profit over the 181-penny value per pound. Zincolns roll up and give them back to the government. A win win in my feeble little mind.

 

[Tpmetal]

Scrap copper is going for approximately $2.80 a pound. There are 181 copper pennies to 1 pound weight. Buy or build your own gas melting furnace and melt all of the pre 1982 pennies into bars. $.99 profit over the 181-penny value per pound. Zincolns roll up and give them back to the government. A win win in my feeble little mind.

This is not legal and can land you in trouble. But if one were to do such a thing(not recommending it), be sure to add a little something to the melt so the composition doesn't match the one for a copper cent(95 copper 5 zinc i think). Also do not mass collect them in a fashion that attracts attention.

 

[hoser]

This is not legal and can land you in trouble.

Yep right now it is. But to my point, if they stop making them and they are no longer used for valid currency, that will negate the legalities. Besides, if you don't tell someone you are doing it how are they to know. And NO, I don't own a melting furnace.

 

[Longhair]

I hope that you realize that it means an automatic tax increase everywhere that you pay sales tax. They will bump up tax to the next nearest increment of five, so states like mine that have a 6% sales tax will see a 4% jump, and that sucks!

 

[Tpmetal]

Yep right now it is. But to my point, if they stop making them and they are no longer used for valid currency, that will negate the legalities. Besides, if you don't tell someone you are doing it how are they to know. And NO, I don't own a melting furnace.

Not hard to build one. Some black iron pipe parts, mig welding tip, propane regulator, ball valve or two. Then some refractory or ceramic fiber and an old cooking pot. Then get a crucible. Built one for a student one time that wanted to make a small mobile glass furnace to melt materials she gathered out in nature.

 

[hoser]

I hope that you realize that it means an automatic tax increase everywhere that you pay sales tax. They will bump up tax to the next nearest increment of five, so states like mine that have a 6% sales tax will see a 4% jump, and that sucks!

Well said Longhair.

 

[Longhair]

Well said Longhair.

I just hate the idea of having to give government more money just for convenience. It seems like a self-defeating proposition. I won't do it willingly!

 

[Xxray]

I hope that you realize that it means an automatic tax increase everywhere that you pay sales tax. They will bump up tax to the next nearest increment of five, so states like mine that have a 6% sales tax will see a 4% jump, and that sucks!

Nothing is "automatic" unless the powers that be mandates that it is so, especially when the proposition is neither logical nor necessary.

 

[Cherry Picker]

I thought they quit in mid-1982?

 

[GroundSweeper]

I thought they quit in mid-1982?

I was going to say the exact same thing!

 

[Xxray]

I thought they quit in mid-1982?

As a tot lot guy, would have thought you know better than that.

 

[Rudy]

I thought they quit in mid-1982?

I was going to say the exact same thing!

Pennies are still minted at the Philadelphia and Denver mints.

The Mint's official reason for minting pennies is that the Federal Reserve orders them. Specifically, the Federal Reserve “buys” coins from the Mint at face value and stores them in bags all over the United States for distribution to banks.

 

[Xxray]

Pennies are still minted at the Philadelphia and Denver mints.

The Mint's official reason for minting pennies is that the Federal Reserve orders them. Specifically, the Federal Reserve “buys” coins from the Mint at face value and stores them in bags all over the United States for distribution to banks.

I think he meant when they changed the composition to majority zinc he doesn't consider them pennies anymore, that was my take

 

[$MELTER-1]

I was told once that they cost 3.5 cents to make. I think if they don't do away with them they should offer 2 cents each to return them. They clean them up and get rid of the yucky ones. That way at least maybe some money is saved, just remember we are talking about the government so who knows.

Don't be surprised if they stop minting coins period.

 

[Longhair]

Don't be surprised if they stop minting coins period.

That's not going to happen in my lifetime. A cashless society is nothing but fantasy at this point.

Only a fool would give up personal control over their money. Neither cyber security nor trust in government are anywhere near where it needs to be for any of that to happen, much less trust in the banks themselves.

 

[Cherry Picker]

As a tot lot guy, would have thought you know better than that.

In my opinion, they, the government, started screwing the people in 1690 with paper instead of gold & silver.

 

[Xxray]

In my opinion, they, the government, started screwing the people in 1690 with paper instead of gold & silver.

All modern currency is just an IOU worth only the trust & solvency of the government minting and backing it, nothing much to be done about that.