US Pennies: Go the way of Canada or keep 'em?

[Pennybug]

Interested in hearing the vote here. PLEASE... chime in on your reasons for your vote too!

Me... Jury's still out for my decision. I really don't know yet what to think. This poll may help!....

[henrysmedford]

It time to go. Things change. I a sure people did not like the Coinage Act of 1857 which forbade the use of foreign coins as legal tender, repealing all acts "authorizing the currency of foreign gold or silver coins". Specific coins would be exchanged at the Treasury and recoined. The act was approved on February 21, 1857.
Before this Act, foreign coins, such as the Spanish dollar, were widely used and allowed as legal tender by the Act of 1806.
And the loss of the Half cent are the loss of the large cent are the loss of gold and silver coins. So until our government works on a stronger doller it is time to go.

[hobo finds]

They will have to go cheaper first, steel then after that, maybe the end for the cent unless they go plastic or cardboard with a recycling sign stamped on the back of it!

[Pennybug]

It time to go. Things change. I a sure people did not like the Coinage Act of 1857 which forbade the use of foreign coins as legal tender, repealing all acts "authorizing the currency of foreign gold or silver coins". Specific coins would be exchanged at the Treasury and recoined. The act was approved on February 21, 1857.
Before this Act, foreign coins, such as the Spanish dollar, were widely used and allowed as legal tender by the Act of 1806.
And the loss of the Half cent are the loss of the large cent are the loss of gold and silver coins. So until our government works on a stronger doller it is time to go.

Interesting! I tend to lean this way too... but I'm not sold on the idea yet. What are your thoughts on what this would do to the value of clad pennies and on that NICE find-o-$100 Cu's you got this week (nice find by the way!)

[henrysmedford]

Interesting! I tend to lean this way too... but I'm not sold on the idea yet. What are your thoughts on what this would do to the value of clad pennies and on that NICE find-o-$100 Cu's you got this week (nice find by the way!)

As you are newer here I am no expert I just got into the coin thing to keep my son Franklin busy he has autism. This is are fourth year sorting for the first year all the non-wheats "coppers too" went back to the bank and one day we found realcent and we have saved all the copper after that. In Canada it will still be unlawful to melt the Canadian cents for the Canadian people but the government will do . As to the US cent it worth will go by the price of copper just as junk silver moves by the price of silver. If history keeps moving the same way the zinc in the clads will be worth more than face. I think it is all about space, gold not much space needed but it is real hard to find for free.

I love the coins as much are more than Franklin . Joe

[jacer333]

If you ask my heart, I hope it sticks around so I can hoard a few more tons!

But my brain tells me that the end is inevitable, and coming soon. The Canadian penny was surprising news and we won't be too far behind regardless of how many people try to save it.

[TwoAndAHalfCents]

I voted to do what Canada did and stop making them. That was the closest choice for me. I believe the mint should stop making them but I don't agree with the idea of going about it exactly the way Canada has announced. The plan in Canada is to pull the coins from circulation for metal recovery. I say just leave all the cents in circulation where they will continue to be used. As the supply diminishes then merchants and consumers can decide whether or not to use them or just round prices. Leave that part up to the free market to decide.

[cupronickel]

Obama will go down as the President who killed the penny.
After he begins his second term, of course.

[everything]

Heck, it don't matter at this point, since they don't make the good copper ones any more anyway.

[adagirl]

Obama will go down as the President who killed the penny.
After he begins his second term, of course.

He will go down as more than the "president" that killed the penny.

[henrysmedford]

Found a fun read the law making the small cent.It looks like they offed the use of Spanish silver at the same time. The links are more readable.
Page 1
Page 2

[Copper Catcher]

I know a lot of folks here want the US Mint to announce that they will cease production of the penny all together so we call all cash in. However let’s look at this logically and not emotionally.

Permission has been given change the metal content and currently this is being studied and a report is due shortly. If you remember in 1974 they made an aluminum cent and then at the last moment pulled it....Why? My guess is the copper and zinc lobby had a little something to do with it. Maybe the steel lobbyist will be on top this time.

Step back and ask yourself; who would benefit if the penny was discontinued? Maybe the hedge fund that purchased tons of copper? Maybe the folks in the scrap metal business? But really who does this benefit in a big way? Not many!

Now who would benefit in a metal content change? Obviously, the people making the alternative metal, right.

So who do you think is contributing more money to make this happen? Follow the money my friend…

For now I will make a prediction... The penny and nickel will remain but the metal content will change to a cheaper metal. Sure, I might be wrong and hope I am because I have a few pennies I’ve love to sell for the copper value too!

[cupronickel]

Obama will go down as the President who killed the penny.
After he begins his second term, of course.

He will go down as more than the "president" that killed the penny.

Sorry, I meant to say "He will go down as the President who killed the penny and the American Healthcare System."