Realcent.org

Base Metal & Precious Metals Forum

Skip to content

Canadian Government Scraps Pennies

Forum for discussing any topic related to investing in, collecting and saving US, Canadian, UK, and other Copper Bullion Pennies for their metal content.
Post a reply

Canadian Government Scraps Pennies

Postby frugalcanuck » Thu Mar 29, 2012 4:04 pm

Well I guess Canadians will have a harder time searching for coppers once all the pennies are gone

http://www.theglobeandmail.com/news/pol ... le2386120/
"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent." John Kenneth Galbraith 1975
frugalcanuck
Penny Hoarding Member
 
Posts: 753
Joined: Sun Apr 25, 2010 10:00 am
Top

Canadian Government Scraps Penny

Postby frugalcanuck » Thu Mar 29, 2012 4:28 pm

Canada will stop producing pennies this April and begin pulling them out of circulation this fall.

Get them while you still can

http://www.theglobeandmail.com/news/pol ... le2386120/
"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent." John Kenneth Galbraith 1975
frugalcanuck
Penny Hoarding Member
 
Posts: 753
Joined: Sun Apr 25, 2010 10:00 am
Top

The end of the Canadian Penny

Postby mtalbot_ca » Thu Mar 29, 2012 4:29 pm

:shock:

Here is a link to the news: http://www.huffingtonpost.ca/2012/03/29 ... d%3D147741

Your thoughts?

Should I rush to get more pennies? :o
Common sense should prevail if not, misery will.
User avatar
mtalbot_ca
1000+ Penny Miser Member
 
Posts: 1101
Joined: Tue Nov 16, 2010 6:59 pm
Top

Re: Canadian Government Scraps Pennies

Postby ThePowersThatBe » Thu Mar 29, 2012 4:32 pm

Merged three identical threads.
User avatar
ThePowersThatBe
Realcent Admin
 
Posts: 509
Joined: Wed Sep 08, 2010 9:23 pm
Top

Re: Canadian Government Scraps Pennies

Postby AGCoinHunter » Thu Mar 29, 2012 4:33 pm

The US isnt far behind.
“Guard with jealous attention the public liberty. Suspect everyone who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are inevitably ruined.”
"The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests.”
- Patrick Henry
User avatar
AGCoinHunter
1000+ Penny Miser Member
 
Posts: 1933
Joined: Mon Oct 12, 2009 10:00 am
Location: Deep South
Top

Re: The end of the Canadian Penny

Postby frugalcanuck » Thu Mar 29, 2012 4:36 pm

mtalbot_ca wrote::shock:


Should I rush to get more pennies? :o



Yes

Yes you should
"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent." John Kenneth Galbraith 1975
frugalcanuck
Penny Hoarding Member
 
Posts: 753
Joined: Sun Apr 25, 2010 10:00 am
Top

Re: Canadian Government Scraps Pennies

Postby highroller4321 » Thu Mar 29, 2012 4:40 pm

My predictions are 8 months ahead of schedule! Step 1 of 3 is now in progess. T-minus 3 years or less untill the U.S penny is gone!!
highroller4321
Realcent Moderator
 
Posts: 7214
Joined: Sat Oct 25, 2008 10:00 am
Location: Portland,Oregon
Top

Re: Canadian Government Scraps Pennies

Postby John_doe » Thu Mar 29, 2012 4:54 pm

AGCoinHunter wrote:The US isnt far behind.




agree. that being said, we might see price increase/market developement for us smarter folks who did'nt throw our pennies into a coinstar.
Ancora Imparo

"You can't control the wind, but you can adjust your sails."

-Albert Einstein
User avatar
John_doe
Post Hoarder
 
Posts: 2502
Joined: Sat Apr 02, 2011 10:38 pm
Top

Re: Canadian Government Scraps Pennies

Postby TXBullion » Thu Mar 29, 2012 4:58 pm

who cares, they are just lowly pennies. I did not even know those things had any value anymore
User avatar
TXBullion
Too Busy Posting to Hoard Anything Else
 
Posts: 4779
Joined: Fri Apr 09, 2010 3:00 pm
Top

Re: Canadian Government Scraps Pennies

Postby CanadianCopper » Thu Mar 29, 2012 5:03 pm

This is really disappointing. Can't say I didn't see it happening, but I was hoping it was 10 years from now. Obviously wishful thinking in hindsight :( :(
Videos of all my coin roll hunting finds can be seen here: http://www.youtube.com/user/CanadaCoinHunting
Check out my blog: http://www.canadacoinhunting.blogspot.com
CanadianCopper
Penny Sorter Member
 
Posts: 60
Joined: Fri Mar 16, 2012 1:03 am
Location: Canada
Top

Re: Canadian Government Scraps Pennies

Postby SilverDragon72 » Thu Mar 29, 2012 5:11 pm

Very interesting indeed. I don't have many Canandian pennies now, but we'll see what happens here in the US in the next couple of years.
User avatar
SilverDragon72
1000+ Penny Miser Member
 
Posts: 1609
Joined: Mon Feb 27, 2012 6:16 pm
Location: South Central Wisconsin
Top

Re: Canadian Government Scraps Penny

Postby Z00 » Thu Mar 29, 2012 5:22 pm

frugalcanuck wrote:Canada will stop producing pennies this April and begin pulling them out of circulation this fall.

Get them while you still can

http://www.theglobeandmail.com/news/pol ... le2386120/

?????? Why continue to produce if only to pull them back in the fall?
Sounds like the 2012 penny will get a big boost in numi value.
Grab all you can NOW!
“Politicians are like diapers; they need to be changed often and for the same reason.” ― Mark Twain

"America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards." -- opening lines of 101 Things To Do 'Til The Revolution by Claire Wolfe
User avatar
Z00
Penny Hoarding Member
 
Posts: 709
Joined: Tue Aug 09, 2011 12:44 am
Top

Re: Canadian Government Scraps Penny

Postby highroller4321 » Thu Mar 29, 2012 5:42 pm

Z00 wrote:
frugalcanuck wrote:Canada will stop producing pennies this April and begin pulling them out of circulation this fall.

Get them while you still can

http://www.theglobeandmail.com/news/pol ... le2386120/

?????? Why continue to produce if only to pull them back in the fall?Sounds like the 2012 penny will get a big boost in numi value.
Grab all you can NOW!



You realise April starts in 3 days right?
highroller4321
Realcent Moderator
 
Posts: 7214
Joined: Sat Oct 25, 2008 10:00 am
Location: Portland,Oregon
Top

Re: Canadian Government Scraps Penny

Postby TXBullion » Thu Mar 29, 2012 5:44 pm

highroller4321 wrote:
Z00 wrote:
frugalcanuck wrote:Canada will stop producing pennies this April and begin pulling them out of circulation this fall.

Get them while you still can

http://www.theglobeandmail.com/news/pol ... le2386120/

?????? Why continue to produce if only to pull them back in the fall?Sounds like the 2012 penny will get a big boost in numi value.
Grab all you can NOW!



You realise April starts in 3 days right?


Is that some type of april fools joke high roller?
User avatar
TXBullion
Too Busy Posting to Hoard Anything Else
 
Posts: 4779
Joined: Fri Apr 09, 2010 3:00 pm
Top

Re: Canadian Government Scraps Pennies

Postby knibloe » Thu Mar 29, 2012 5:50 pm

Can a guy buy bags of cents from the mint? I

I didn't see any on their website
knibloe
Post Hoarder
 
Posts: 2551
Joined: Fri Mar 14, 2008 7:00 am
Location: Western, NY
Top

Re: Canadian Government Scraps Pennies

Postby mtalbot_ca » Thu Mar 29, 2012 5:54 pm

I going to the bank tonight to see what they can sell me.
Common sense should prevail if not, misery will.
User avatar
mtalbot_ca
1000+ Penny Miser Member
 
Posts: 1101
Joined: Tue Nov 16, 2010 6:59 pm
Top

Re: Canadian Government Scraps Pennies

Postby Cu Lung » Thu Mar 29, 2012 5:57 pm

So does this mean as of this fall the melt ban is gone? :D
Opportunity is missed by most people because it is dressed in overalls and looks like work.
User avatar
Cu Lung
Penny Pincher Member
 
Posts: 113
Joined: Sat Feb 25, 2012 4:34 pm
Top

Re: Canadian Government Scraps Pennies

Postby John_doe » Thu Mar 29, 2012 6:17 pm

http://money.msn.com/personal-finance/l ... 901814837b


The us probably would have already done it, if it were not for the inflationary spanking they will surely suffer as a direct result of the debasement.
Ancora Imparo

"You can't control the wind, but you can adjust your sails."

-Albert Einstein
User avatar
John_doe
Post Hoarder
 
Posts: 2502
Joined: Sat Apr 02, 2011 10:38 pm
Top

Re: Canadian Government Scraps Pennies

Postby Copper Catcher » Thu Mar 29, 2012 7:34 pm

All aboard....the train has left the station....next stop USA! :D

When it is announced that the US is doing away with the penny....I say we all meet in Vegas to celebrate and then ask the casinos if they planning to rename the penny machines something different....even though not one of them actually takes a penny! :P
User avatar
Copper Catcher
Too Busy Posting to Hoard Anything Else
 
Posts: 5206
Joined: Sat Jan 26, 2008 3:00 pm
Top

Re: Canadian Government Scraps Pennies

Postby cesariojpn » Thu Mar 29, 2012 7:46 pm

Image
User avatar
cesariojpn
Penny Hoarding Member
 
Posts: 954
Joined: Sun Nov 29, 2009 3:00 pm
Top

Re: Canadian Government Scraps Pennies

Postby John_doe » Thu Mar 29, 2012 7:54 pm

cesariojpn wrote:Image




everyone else should panic, everyone here is fine. LOL'Z


chalk another one up for the crazies. :lol:
Ancora Imparo

"You can't control the wind, but you can adjust your sails."

-Albert Einstein
User avatar
John_doe
Post Hoarder
 
Posts: 2502
Joined: Sat Apr 02, 2011 10:38 pm
Top

Re: Canadian Government Scraps Pennies

Postby woodyh » Thu Mar 29, 2012 8:00 pm

this happened sooner than i thought
life is like a box of pennys , you never know what your gonna get
woodyh
Penny Collector Member
 
Posts: 337
Joined: Sat Oct 15, 2011 10:50 pm
Location: northeast georgia
Top

Re: Canadian Government Scraps Pennies

Postby reddirtcoins » Thu Mar 29, 2012 8:13 pm

This should give us a good idea of where the price will go when the US cent follows. I'm interested to see what happens. Price increase for a CTU or worthless flop...? Time will tell and soon. Also we get to see what happens with melting values..
"Truth, like gold, is to be obtained not by its growth, but by washing away from it all that is not gold."- Leo Tolstoy
User avatar
reddirtcoins
1000+ Penny Miser Member
 
Posts: 1478
Joined: Tue May 17, 2011 7:19 pm
Location: Oklahoma
Top

Re: Canadian Government Scraps Pennies

Postby ceddy2 » Thu Mar 29, 2012 8:34 pm

It is high time for the US Govt to follow suit. If they cost more to produce than their face value, time to shut it down.
ceddy2
 
Posts: 15
Joined: Sat Dec 03, 2011 11:18 pm
Top

Re: Canadian Government Scraps Pennies

Postby John_doe » Thu Mar 29, 2012 8:58 pm

ceddy2 wrote:It is high time for the US Govt to follow suit. If they cost more to produce than their face value, time to shut it down.




they shut down= we shut down.
Ancora Imparo

"You can't control the wind, but you can adjust your sails."

-Albert Einstein
User avatar
John_doe
Post Hoarder
 
Posts: 2502
Joined: Sat Apr 02, 2011 10:38 pm
Top
Next
Post a reply

Return to Copper Penny Bullion Investing

Who is online

Users browsing this forum: No registered users and 0 guests

Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group