by Romalae » Sun Dec 02, 2012 11:04 am
In a scenario in which cent composition was altered, I would anticipate that the older pennies would be sent from circulation back to their origins in favor of the circulation of the newer pennies. Plus, it might make the people otherwise indifferent to the penny phenomenon more inclined to remove the coppers. So there would indirectly be a shortage of coppers in circulation, most likely, and what little left of them would become diluted to a great degree. I wouldn't say the same about the zinc ones however, because though it costs the mint well over two cents to make them, the melt value still does not come close to reaching or exceeding face value, so there's no reason they can't be left in circulation (besides the potentiality of their surface to start bubbling up as is common in the older zinc pennies from the mid 1980s). If the whole denomination were to be eliminated altogether, first of all, you'd have to remember that pennies would not be obviated immediately; they'd be gradually phased out. So I think you'd still have the opportunity to get them from the banks, but you'd want to do it with greater haste and exigency because many others will likely do the same and it'd be only a matter of time before the penny became a rarity.
The moral of the story is to be ahead of the game and prepare for whatever happens. Even if the cent continues to be produced and circulated, coppers will still gradually dissipate from circulation so it's best to be on top of it and continue sorting while we still have this great opportunity to invest and to obsess.