Canadian Melt Ban Poll

[frugalcanuck]

Answer yes or no and then explain your thoughts / reasoning behind your pick.

[frugalcanuck]

The Canadian government loves to paint hoarders in a negative light and calls them crazy and harmful to society. One of the reasons they are giving for scrapping the penny is that too many people have all their pennies sitting in a jar somewhere and thus not using them. The government is not stupid.. its just idiotic.. I dont think it will allow any benefit to those who hoard pennies. Even if they have no idea as to the scale of their hoarding.

That is point one... Point two.. There is only a melt ban for the public. The mint is allowed to melt pennies. There is no reason from the governments stand point to lift the ban. Its not like there are people who would like to melt pennies and sell the metal and make a profit.... Note the sarcasim.


Why would the government go through the work of changing a law that only punishes people. The Canadian government is trying to fill the prisons beyond capacity to show how much money it costs to incarcerate people and create a need for privatization.


As you may have figured out I dont think the melt ban will ever be lifted in Canada

[TXBullion]

I think this is interesting. Everyone always talk about "when" the melt ban be lifted not "if". Im not opinionated one side or the other. Just looking forward to see the responses of why

[whatsnext]

I stated that they would ask for them back, pay face at your whim, but thats overly complicated compared to the mint just getting them back slowly and toasting them.
Just allow time to bring it back home.

I'm not against penny farming though. Dont worry I'll take as much out of you averages as possible til then.

A long time it would eventually be melted by the holders one way or another.

EDIT - assuming they used copper pennys for the last 30 years in cuculation rather than melting them MAYBE I'M DEAD WRONGE.

[misteroman]

WOW 50-50! I say no but think they will change it in the future

[highroller4321]

No, they won't! I don't belive there is even a slight chance that they will. They already have the allow recovery program in place and they already have the 2 foundries where they get rid of their coin. Why on earth would the give this up to just let someone esle do it?

[Copper]

As soon as they discontinue the penny,(or 1 yr. after) they are saying it is no longer legal tender, so what is the difference in melting scrap wire or pennies? If it is not legal tender, it is a commodity, Right??

[west77]

I think copper has it right: at some point they will declare that a penny is no longer legal tender. I think when that happens it will be up to individuals what they want to do with a coin that is lo longer legal tender.

So, I will say a few years after the discontinuation of the penny the ban will be lifted.