No more pennies soon ?

[Doug]

Pennys may be a pain in the ass but they serve a purpose and I would hate for them to get voted down. If you only use 5cent increments the price of just about everything will go up.

Lets say the Price of gas is $3.00. If they got rid of penny insteed of going up to $3.01 or $3.02 per gallon they would have to go up to $3.05 per gallon. I know that does not sound like much but when you have simialar examples on small purchases 5 times per day and dozens of times per month it adds up to alot of money at the end of the year.

How would they charge 6% sales taxes on a bottle of soda at the 7-11. Would they charge you a nickle or a dime? You see, we do need pennys.

You could still have gas at $3.019, the rounding is on the final amount. $50.13 becomes $50.15, no changes on credit, it would be $50.13 on your Visa.

They will not produce them at a cost of 1.4 cents each, the mint makes billions of cents annually. Even worse is the nickel is getting tough to manufacture.

 

[Doug]

For the Canadians: What is your govt doing on this ?

 

[Woody0]

Still making pennies at 1.5 cents each, but we save on the $1 by using metal instead of paper that only lasts a few years.

 

[Doug]

Still making pennies at 1.5 cents each, but we save on the $1 by using metal instead of paper that only lasts a few years.

So your cents are made out of what ? If real copper they cost more than 2 cents to make.

You guys have the $1 Loonie coins, and $2 bills, no paper dollars, right ?

I guess we could make the cent smaller and thinner, say about the size and thickness of a thumbtack ?

Dollar coin never worked here because of paper dollar, you have to stop making paper for dollar coin to work.

US took all those golden colored Sacawaga ( sp) dollars and sent them down to Panama for use there.

 

[SportSavant]

For the Canadians: What is your govt doing on this ?

I think the penny will be history some day, but we are moving more towards coins in general,

as we now have the 'loonie' (1$ coin), the 'toonie' (2 dollar coin) & very soon we are introducing the 5$ coin.

 

[SportSavant]

doug, we no longer have 2$ bills either, smallest bill is 5$

 

[CHOPTALK]

I guess wallets are not as popular in Canada as they are here in the US. Hard to put a bunch of coins in a wallet.

Does Canada have $100 coins? I would hate the thought of losing one of those in the couch.

 

[Doug]

I guess wallets are not as popular in Canada as they are here in the US. Hard to put a bunch of coins in a wallet.

Does Canada have $100 coins? I would hate the thought of losing one of those in the couch.

Hell, they have $350 coins ( non-circulating)

http://www.taxfreegold.co.uk/canadian350dollars99999puregold.html

 

[CHOPTALK]

Damm I would hate to lose a $350 coin. I bet Metal detectors are real popular in Canada.

I would love to bring a metal detector to a ballpark in Canada and check underneath the bleachers for coins. I few good finds and you could make a full-time job out of that.

 

[Tulsa]

Let's say I had an aluminum penny... What is it worth and how would I sell it?

Assuming I had one of course...

I'm surprised that Doug didn't mention that apart from the 'stolen' aluminum pennies that were worked with a few years ago which I know nothing about, there were aluminum (I think they were aluminum, but they may have been steel....) pennies used during WWII quite extensively due to copper shortages from the war effort.

These WWII pennies are of some value (not much) and are collected. These would not be nearly as worthwhile to own as the aluminum pennies that Doug mentioned. If you have one or some aluminum (maybe steel) pennies and they are dated around the early 1940's, say 1943 or 1944, then enjoy your piece(s) of US history. If they are the uncirculated pennies that Doug mentioned from just a few years ago, that is a whole different ball game. tulsa

 

[Doug]

I'm surprised that Doug didn't mention that apart from the 'stolen' aluminum pennies that were worked with a few years ago which I know nothing about, there were aluminum (I think they were aluminum, but they may have been steel....) pennies used during WWII quite extensively due to copper shortages from the war effort.

These WWII pennies are of some value (not much) and are collected. These would not be nearly as worthwhile to own as the aluminum pennies that Doug mentioned. If you have one or some aluminum (maybe steel) pennies and they are dated around the early 1940's, say 1943 or 1944, then enjoy your piece(s) of US history. If they are the uncirculated pennies that Doug mentioned from just a few years ago, that is a whole different ball game. tulsa

Those 1943 cents are steel ( magnetic) not worth much ( like 10-20 cents). Steel is not an option. Nickels of the WW2 era some 1942, all 1943-45, all with a gigantic mintmark over the monticello on reverse contain silver, and are worth about 40 cents for that silver, they are usually dark in appearance, just look kind of funny, they are common as are the 43 cents.

 

[Doug]

Damm I would hate to lose a $350 coin. I bet Metal detectors are real popular in Canada.

I would love to bring a metal detector to a ballpark in Canada and check underneath the bleachers for coins. I few good finds and you could make a full-time job out of that.

Those don't circulate, it's a bullion coin, like this $50 US coin you will never get in change. They don't walk around with these things and use them. The average Canadian has probably never even seen one.

http://images.google.com/imgres?imgurl=http://www.coinfacts.com/bullion_coins/gold_bullion_coins/fifty_dollars/1995w_fifty_dollars_rev.jpg&imgrefurl=http://www.coinfacts.com/bullion_coins/gold_bullion_coins.htm&h=300&w=297&sz=81&tbnid=7besInWKJd0SwM:&tbnh=111&tbnw=109&hl=en&start=3&prev=/images%3Fq%3D%252450%2BAmerican%2Beagle%26svnum%3D10%26hl%3Den%26lr%3D%26sa%3DN

 

[Doug]

The silver war nickel

http://images.google.com/imgres?imgurl=http://collecting-us-coins.com/pictures/silver-war-nickel-reverse.jpg&imgrefurl=http://collecting-us-coins.com/nickels/silver-war-nickel-reverse.html&h=240&w=240&sz=8&tbnid=Q0cra19HJEcQLM:&tbnh=104&tbnw=104&hl=en&start=2&prev=/images%3Fq%3Dwar%2Bnickel%26svnum%3D10%26hl%3Den%26lr%3D%26sa%3DN

steel cent

http://en.wikipedia.org/wiki/1943_Steel_Penny

 

[Doug]

doug, we no longer have 2$ bills either, smallest bill is 5$

What do you guys give strippers at the titty bar ? :massage: :spanker:

 

[Doug]

So 150 pre-1982 pennies are worth about $3.00 in copper?

This resembles a 100% bonus, correct?

Fish: Believe it or not, I came across a forum that addresses the merits of collecting this "bonus"

http://realcent.forumco.com/forum~FORUM_ID~1.asp