Realcent.org

henrysmedford wrote:The government website has charts of how to round up and down. http://www.budget.gc.ca/2012/themes/theme2-eng.html

What's going to happen to the pennies that are in circulation?

Starting in the fall, businesses will be asked to return pennies to financial institutions. The coins will be melted and the metal content recycled.

henrysmedford wrote:Look like my hand my son Theodore and highroller4321 sorter was on ABC last night!
From --http://abcnews.go.com/blogs/headlines/2012/03/u-s-penny-to-be-kept-as-canada-bids-coin-farewell/

jacer333 wrote:Hmm, so are you guys saving all Canadians you run across whether they are zinc or copper now? As a midwestern U.S. sorter I don't run across a ton of them, but I may as well keep them now that they are all being melted right?

crazypennyguy wrote:The way I see it, there are only two choices:

1) Be as appealing as you can to the tellers in any branch you can find - a hangdog look may help - and wheedle them into letting you interdict the process, particularly come fall;

2) Get out of the racket and move on (perhaps to nickels.)

The Royal Canadian Mint all but said, "All your pennies is belong to us."

John_doe wrote:This may in turn drive up demand on U.S. coppers as well. With limited supply of Canadian, some may turn across the border for coppers. This is just a possibility obviously.

JadeDragon wrote:

John_doe wrote:This may in turn drive up demand on U.S. coppers as well. With limited supply of Canadian, some may turn across the border for coppers. This is just a possibility obviously.

I believe that most banks and businesses are welcoming the change. Tellers I've talked too are happy to see pennies eliminated. Why would we want US pennies?

henrysmedford wrote:

JadeDragon wrote:

John_doe wrote:This may in turn drive up demand on U.S. coppers as well. With limited supply of Canadian, some may turn across the border for coppers. This is just a possibility obviously.

I believe that most banks and businesses are welcoming the change. Tellers I've talked too are happy to see pennies eliminated. Why would we want US pennies?

I think he was talking about penny hoarders. But you can not carry more the $5.00 over the boarder with out breaking US law so I do not see that as a problem.

]yes I was speaking of hoarders/investors. You could probably ship them over under a copper tariff, as opposed to a monetary unit. I might be wrong here?

Specifically, the new regulations prohibit, with certain exceptions, the melting or treatment of all one-cent and 5-cent coins. The regulations also prohibit the unlicensed exportation of these coins, except that travelers may take up to $5 in these coins out of the country, and individuals may ship up to $100 in these coins out of the country in any one shipment for legitimate coinage and numismatic purposes. In all essential respects, these regulations are patterned after the Department of the Treasury's regulations prohibiting the exportation, melting, or treatment of silver coins between 1967 and 1969, and the regulations prohibiting the exportation, melting, or treatment of one-cent coins between 1974 and 1978.

The new regulations authorize a fine of not more than $10,000, or imprisonment of not more than five years, or both, against a person who knowingly violates the regulations. In addition, by law, any coins exported, melted, or treated in violation of the regulation shall be forfeited to the United States Government.

henrysmedford wrote:

]yes I was speaking of hoarders/investors. You could probably ship them over under a copper tariff, as opposed to a monetary unit. I might be wrong here?

From --http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=724

Specifically, the new regulations prohibit, with certain exceptions, the melting or treatment of all one-cent and 5-cent coins. The regulations also prohibit the unlicensed exportation of these coins, except that travelers may take up to $5 in these coins out of the country, and individuals may ship up to $100 in these coins out of the country in any one shipment for legitimate coinage and numismatic purposes. In all essential respects, these regulations are patterned after the Department of the Treasury's regulations prohibiting the exportation, melting, or treatment of silver coins between 1967 and 1969, and the regulations prohibiting the exportation, melting, or treatment of one-cent coins between 1974 and 1978.

The new regulations authorize a fine of not more than $10,000, or imprisonment of not more than five years, or both, against a person who knowingly violates the regulations. In addition, by law, any coins exported, melted, or treated in violation of the regulation shall be forfeited to the United States Government.

No one knows what "in any one shipment for legitimate coinage and numismatic purposes" is on time in you life to one person. So at " fine of not more than $10,000, or imprisonment of not more than five years, or both" no one wants to try.

slvrbck wrote:Just had to share this. Long time hand sorter here. At dairy Queen tonight after my 13 yo step daughters soccer practice whom I have also gotten interested in sorting when she looks up and says. So what do u think about Canada scrapping the cent. I've been suPer busy the last few days and somehow missed the news. I thought she was full of it.

JobIII wrote:I for one, won't be selling off my Canadian pennies.

crazypennyguy wrote:hangdog and wheedle

uthminsta wrote:welcome to our newest member: HoardCanadianByTheTon