Zinc

[bankmining]

Maybe we'll need a new forum for zinc penny investing Zinc pennies now have a melt value over 90% of face.

[Recyclersteve]

If you do one for zinc, then you will likely need to add aluminum. And if you have aluminum, then someone will suggest adding something else. Where does it stop?

One thing about zinc is that it is roughly half the price of copper, yet lots of people on this forum would probably LOVE to sell their copper cents if they felt they could get a decent price. I'd say that if someone offered 1.5X face and offered to pay the shipping as well, they would end up buying tons (LITERALLY TONS) of copper.

That said, not sure I understand the immediate appeal of zinc. Now if the composition of the penny was changed to eliminate zinc, then that might be different. But even if it was changed, copper already takes up lots of storage space. Not sure I want to commit additional storage space to something worth half as much.

Someone like Adam Youngs, who has more space than I do, might be able to profit from a composition change if it happened.

I have to admit, I wonder what they would substitute for zinc- steel? Or would they just get rid of the cent altogether?

[bankmining]

I was just suggesting it in jest, but the recent rise in zinc prices did remind me of something I read years ago about a USGS study to determine which metals we would run out of first and I think zinc was at the top or near the top of the list (?). Of course if you took it seriously, we should be getting close to running out of copper and silver too .

[hobo finds]

It has happened in the past, I tried to locate old posts when zinc cents were worth more than a cent!

[hobo finds]

Historically, Zinc reached an all time high of 4603 (2.3015 lb.) in November of 2006 and a record low of 176.37 (.088185 lb.)in September of 1962. Currently Zinc Price 1.64 USD/lb (3,609.41 USD/t)

[hobo finds]

If you do one for zinc, then you will likely need to add aluminum. And if you have aluminum, then someone will suggest adding something else. Where does it stop?

One thing about zinc is that it is roughly half the price of copper, yet lots of people on this forum would probably LOVE to sell their copper cents if they felt they could get a decent price. I'd say that if someone offered 1.5X face and offered to pay the shipping as well, they would end up buying tons (LITERALLY TONS) of copper.

That said, not sure I understand the immediate appeal of zinc. Now if the composition of the penny was changed to eliminate zinc, then that might be different. But even if it was changed, copper already takes up lots of storage space. Not sure I want to commit additional storage space to something worth half as much.

Someone like Adam Youngs, who has more space than I do, might be able to profit from a composition change if it happened.

I have to admit, I wonder what they would substitute for zinc- steel? Or would they just get rid of the cent altogether?

Plastic or cardboard first before they get rid of the cent... They made sales tax tokens out of both plastic and cardboard.

[coppernickel]

What is zinc used for?

I see people collecting the other copper coins, nickels and dimes/quarters, before zinc.

What would you name a zinc cent site? Perhaps "ZincLincoln," or "I zinc I can?"

[hobo finds]

https://youtu.be/6ji4zycScUE

[coppernickel]

Name the zinc site, "I zinc I cent." or, "I cent therefore I zinc."

Very long day, hope it gets at least a smile.

[DANZIG]

There will most likely not be another change in coin composition. The next market crash will probably end all coin and paper money. The government would go to a digital money system. The banks would then own all the money. After the housing crisis ten years ago our central bank owned congress passed Dodd-Frank. It was advertised as a law to never bail out the banks again. But buried in the back of the law is rules that now any deposits in the bank is owned by the bank as loans from us. When a bank then goes bankrupt their debt is wiped clean like some guy who overspent on his credit cards. Account balance zero.

[Recyclersteve]

There will most likely not be another change in coin composition. The next market crash will probably end all coin and paper money. The government would go to a digital money system. The banks would then own all the money. After the housing crisis ten years ago our central bank owned congress passed Dodd-Frank. It was advertised as a law to never bail out the banks again. But buried in the back of the law is rules that now any deposits in the bank is owned by the bank as loans from us. When a bank then goes bankrupt their debt is wiped clean like some guy who overspent on his credit cards. Account balance zero.

I've heard that something like 20-25% of people don't have bank accounts- I even know of one. When they receive a check they go to those Checks Cashed type places. What would happen to them- would they be told their cash is worthless?

[DANZIG]

People today are already being paid on " gift cards ". Like many Walmart employees receive Visa cards to buy stuff anywhere. But like any digital money, it's in the control of whichever bank Walmart is using. Small banks borrow from bigger banks, bigger banks borrow from huge banks, and so on. When one domino falls it becomes everyone for themselves, and the first to get locked out of their digital money won't be huge banks. It will be Joe Schmo taking his Walmart pay card to the grocery store and being locked out. He and Americans everywhere will be told in big words that we won't be able to use the bank owned money for awhile. It's called a " Bank Holiday ". During the bank holiday the banks will be closed for maybe weeks. The Federal Reserve (private bank owned monopoly) will force congress to pass new regulations constricting our access, use, and value of their money. In recent years this has already happened in Cypress and Greece, except they're not using digital only money yet. This whole money system could be fixed very easily, but the non-government Federal Reserve and other countries central banks control nearly all the worlds economies and destroys anyone who gets in front of them.

[DANZIG]

The short answer. The check cashing places would die out because people would get payed on cards.

[sparechange]

Welcome DANZIG and thanks for insightful posts

[DANZIG]

Thanks. I've been hoarding copper cents since 2013. I don't use the computer as much as the average guy but I still didn't find this site til reCENTly. I don't even own a smart phone.

[Recyclersteve]

The short answer. The check cashing places would die out because people would get payed on cards.

How would that handle a situation where someone does yard work or minor construction work for another person and demands to be paid in cash? Lots of physical labor is done that way.

[Recyclersteve]

Thanks. I've been hoarding copper cents since 2013. I don't use the computer as much as the average guy but I still didn't find this site til reCENTly. I don't even own a smart phone.

Welcome to the site, DANZIG.

Just curious- do you sort by hand or use a machine like a Ryedale? Are you having any issues getting or returning pennies?

[DANZIG]

Have you seen the commercials where people tap phones to exchange money? Or where some kid breaks a vase and the dad gets out his phone and wires the money to pay for it. That's digital person to person payment. For someone without a smartphone there will be some card to card system. Something like a gift card to pay at the pump gas, except there's something to convert between cards.

[DANZIG]

I sort by hand. My job has me driving in my car 50 to 60 thousand miles a year. I just stop at random banks and pick up boxes here or there. One local bank was giving me 2 boxes a week for 4 years , but stopped doing it for me. I'm down to just one credit union (all branches) who let me dump coins for free. The ladies there on their own have been pulling wheat and steel cents for me. Last week the self dump machine jammed and when this happens they let me have whatever is in it. Monday it was 2 Eisenhower dollars. A big help to my copper cent saving is this guy I know who sells copper cents and other coins/stuff on e-bay. When I find uncirculated rolls I put them in boxes and he trades me copper cents for those. $25 box unc. for $25 copper and he makes the same amount selling those on e-bay.

[coppernickel]

I don't even own a smart phone.

Never give in, your life will never be the same if you do.

Welcome.

[Recyclersteve]

Last week the self dump machine jammed and when this happens they let me have whatever is in it. Monday it was 2 Eisenhower dollars.

Pretty cool that they do this for you. Save up the foreign coins you get. There is a guy from Portland, OR on this site who buys non-numismatic foreign stuff. The fact that they just let you have the 2 Ikes is impressive.

[DANZIG]

Yes. I think the policy is that coins left behind can't be picked up by credit union employees so they just give whatever to the next guy. Sometimes it's quarters, dimes, and so on. Other times it's foreign, silver coins, steel cents and such.

[Recyclersteve]

We have a small bank in our area that says that by policy they have to throw stuff from the overflow cup into the trash and cannot give it to customers or keep it for themselves. That sucks. I don't want to go through 3-4 bags of trash for the little return I'd get. Not worth the time.

[maxwellsilverhammer]

Maybe we'll need a new forum for zinc penny investing Zinc pennies now have a melt value over 90% of face.

that may be but an awful lot of zincs in circulation are already showing considerable corrosion. what a bad idea using zinc in the first place i think.