Re: ¢ Hoarding Zincolns? ¢
Posted: Sat Jun 08, 2013 3:49 am
zKott wrote:cresh, . . .
I realize there have been nearly 300 Billion zinc pennies minted since 1982 BUT when Canada discontinued their pennies, all banks shipped back their pennies to the Royal Mint to have them melted down for industrial purposes.
Don't you think that if the US does away with pennies, the Mint would collect them and melt them down as well to remove them from circulation? If so, subsequently there would no longer be even remotely close to 300 Billion pennies available, which could make them extremely rare and full of numi value . . .
zKott:
Welcome to the forum. I like the way you think. I've read a few of your posts and think you are getting it figured out. For your answer to the above, I would suggest you track the numi value of the Canadian, Oz, etc. (non-copper) pennies. I think they would give you an idea of what the future value of the US zinc penny are headed. Give or take number in circulation, condition, etc.
Personally, I'd suggest as others above have. Pump all you can from your wife and dump them on e-bay. When you no longer make a premium that is worth your while, stop. Use the extra cash to buy more real metal coinage.
Zinc has a history for making industrial brass & galvanizing via the hot dip system (1800s) so it looks like it will be a low-tech metal for the future. However, there seems to be enough of it around right now to avoid hording at this time.
(edit to add)
zKott wrote:I think the idea that is most important here that I don't believe the majority (of) this community . . . realize is the actuality of the currency debasement paradigm. (emphasis mine)
Debasement has been going on for far longer than 49 years. (since 1964)
The long-term goal of the United States government has not been to debase your pennies, nickels, dimes, quarters, halves and dollars. (Coin Currency) . . .
Once consumers no longer hold a tangible currency, value is value based upon the what the person in charge tells the consumer value is worth.
...and the consumer left holding the debt (whether current or potential) must repay whatever he was duped into - thus leaving a life of barbarian slavery to the system to each average citizen. ...
No argument from me on the goals of our govt. I think you are spot on. However, I think you need to give more credit to our membership regarding debasement and debt = slavery awareness. You will find a ton of posts regarding debasement. One of my favorites being comparing the 1933 (the last year they made real gold coinage) value of a dollar's worth of gold vs todays spot price. Making today's dollar worth about 1.5 (1933) cents. Also, a number of posts on Debt/Slavery (if you do a search,) by many of our long established members. As a community, we are most aware and are glad to count you as one of us regardless of your age. Keep posting and keep stacking.