How long before Zincolns are worth more than 1 cent?

[VWBEAMER]

After Copper pennies and Nickels, they are most valuable coins in terms of metal content vs, Face value. right now they are worth almost 7/10ths of a cent.

[shinnosuke]

Oh, yeah. I would love to stop sorting them. Go copper!

[Pachucko]

I read somewhere you could use them as-is for some type of casting as well.

[JadeDragon]

they have been over a penny of zinc and will be again. The US could not maintain a Gold Standard, could not sustain a silver standard, can't afford NI in the Nickel, has lost the ability to make copper pennies without losing money and rally can sustain the use of zinc in pennies. Plastic or steel is all that is left.

[Devil Soundwave]

Just prolonging the agony really. What happens when plastic and steel are too expensive?

[commoncents]

When I was a kid (1960s) the US mint made 100 pennies out of 20 cents worth of copper. The dollar has depreciated in value very far. When we get the point that a zinc penny contains more than one cent worth of metal, then the US dollar will perform the functions of money very poorly. At that point, I doubt many will have spare time for hording zinc pennies. More likely we'll have much more hand-to-mouth concerns occupying our time.

If currency no longer carries economic value efficiently nor stores it for long, then an economy no longer functions well. Barter is better than nothing but a poor substitute. The only other alternative is force and coercion. Too many politicos would resort to that and blame the coerced 'horders' for causing the problems. Of course, penny horders are utterly incapable of causing the destruction of the dollar's value. But when politicians intend to do harm to an "enemy", little things like facts and logic have no bearing on their demagogary. When the populace is desperate, they will grasp at anything that excuses and justifies their actions.

I suggest that hording zinc pennies would represent effort directed in an obsolete direction.

[shinnosuke]

When I was a kid (1960s) the US mint made 100 pennies out of 20 cents worth of copper. The dollar has depreciated in value very far. When we get the point that a zinc penny contains more than one cent worth of metal, then the US dollar will perform the functions of money very poorly. At that point, I doubt many will have spare time for hording zinc pennies. More likely we'll have much more hand-to-mouth concerns occupying our time.

If currency no longer carries economic value efficiently nor stores it for long, then an economy no longer functions well. Barter is better than nothing but a poor substitute. The only other alternative is force and coercion. Too many politicos would resort to that and blame the coerced 'horders' for causing the problems. Of course, penny horders are utterly incapable of causing the destruction of the dollar's value. But when politicians intend to do harm to an "enemy", little things like facts and logic have no bearing on their demagogary. When the populace is desperate, they will grasp at anything that excuses and justifies their actions.

I suggest that hording zinc pennies would represent effort directed in an obsolete direction.

Very well stated. I hope this website stays active as we slide into the next depression.

[wheeler_dealer]

I would suggest that the zincoln is actually worth more than one cent when you consider the labor costs combined with the metals value. I read somewhere recently that the value of zinc is increasing and may soon exceed the face value of the penny. Here's hoping.

[GTOJohn]

what a kick that would be - a major price increase in zinc!
how many lbs/tons have we handled, only to bring them back to the bank?

[PennyBoy]

Just prolonging the agony really. What happens when plastic and steel are too expensive?

By then we'll be a cashless society.

[VWBEAMER]

We are not far from the metal value of the zinc penny exceeding it's face value now. it will certainly be there by the time copper doubles, like many here dream of, including me.

So I should stop with all the pennies and start digging my shelter now?

When I was a kid (1960s) the US mint made 100 pennies out of 20 cents worth of copper. The dollar has depreciated in value very far. When we get the point that a zinc penny contains more than one cent worth of metal, then the US dollar will perform the functions of money very poorly. At that point, I doubt many will have spare time for hording zinc pennies. More likely we'll have much more hand-to-mouth concerns occupying our time.

If currency no longer carries economic value efficiently nor stores it for long, then an economy no longer functions well. Barter is better than nothing but a poor substitute. The only other alternative is force and coercion. Too many politicos would resort to that and blame the coerced 'horders' for causing the problems. Of course, penny horders are utterly incapable of causing the destruction of the dollar's value. But when politicians intend to do harm to an "enemy", little things like facts and logic have no bearing on their demagogary. When the populace is desperate, they will grasp at anything that excuses and justifies their actions.

I suggest that hording zinc pennies would represent effort directed in an obsolete direction.

[exbingoaddict]

Market Harmony has a plastic coin he puts out at some shows. The flip is labled "Money of the future". At one time I thought it was a joke. Now I'm not so sure.

[Pennybug]

Just prolonging the agony really. What happens when plastic and steel are too expensive?

By then we'll be a cashless society.

This is EXACTLY where we are headed. That's exactly what "electronic" money IS! It's step 1. How much of our money based on this already? 25 years ago... that hadn't been invented yet. Now... how many of us get paid through direct deposit and are OK with it? Here's the 1st country to take the 3rd major step (step 2 is to create a multi-nation currency that ALL would accept... AKA the Euro) ...

http://www.walletpop.com/2009/12/18/che ... er-checks/

I'd give it about 30 years max before we as a world are there... but we will get there. Sound Biblical?... well it is.

[VWBEAMER]

Truthfully, 95% of the money I spend I do so electronically already.

I get it direct deposit, my house payment and utilities are all paid on line, i use credit cards for shopping to get the cash back ......about the only thing I pay cash for is eating out because I don't like them to have my credit card.

I buy a few cokes at work with change, but alot of machines have card slots now.

Just prolonging the agony really. What happens when plastic and steel are too expensive?

By then we'll be a cashless society.

This is EXACTLY where we are headed. That's exactly what "electronic" money IS! It's step 1. How much of our money based on this already? 25 years ago... that hadn't been invented yet. Now... how many of us get paid through direct deposit and are OK with it? Here's the 1st country to take the 3rd major step (step 2 is to create a multi-nation currency that ALL would accept... AKA the Euro) ...

http://www.walletpop.com/2009/12/18/che ... er-checks/

I'd give it about 30 years max before we as a world are there... but we will get there. Sound Biblical?... well it is.

[misteroman]

Just prolonging the agony really. What happens when plastic and steel are too expensive?

By then we'll be a cashless society.

was just going to post that. very soon I'm afraid. within 10yrs I bet

[hejira11]

Very well stated. I hope this website stays active as we slide into the next depression.

I feel like I am already in the middle of it.

[shinnosuke]

Very well stated. I hope this website stays active as we slide into the next depression.

I feel like I am already in the middle of it.

But just being an active participant here makes you farther ahead than most North Americans. Knowledge is power. Keep your chin up.

[theo]

Just prolonging the agony really. What happens when plastic and steel are too expensive?

By then we'll be a cashless society.[/quote]
was just going to post that. very soon I'm afraid. within 10yrs I bet

Transforming into a completely cashless society is far easier said than done. IMO the only reason that we accept our mostly cashless state right now is that everybody knows that they can get cash and coin on demand. In order to make a totally electronic currency work the Government would have to impose strict rationing and price controls. Without such controls during times of inflation, an electronic currency would likely have a very high volicity causing prices to flucturate wildly (usually upward). Also, I doubt the Government would have the enforcement power to stop the all the black markets that would almost certainly appear. Finally electronic currency would require a dependable supply of energy. If chronic brown outs cause people to routinely lose access to their money for hours or even days at a time, they will lose confidence in their slick looking debit (ration?) cards.

[Sheba]

At 4.50 something per lb. for pure copper, I think I will just keep my little ('very little ) stash of copper pennies. I personally think in a shorter time then we realize, copper will be much higher. Every zincoln I keep (and I keep very, very few, mostly like the 2009s) is one less copper I could keep!

Actually, my small stash wouldn't go very far no matter what takes place

I appreciate very much, however, all the different view points for this is one of the main values of this great forum.

sheba