So What Happens When They Discontinue Pennies?

[willy13]

I need to start hoarding nickels. Nickels are making more and more cents these days.

[Silver4face]

After reading recent comments from others, I can feel the hoarding craze starting to intensify!!!! Are we fearing the apocalypse of coins?

[Catfish4u]

The 'discontinuance of all physical money' is in full swing! Daily I see physical signs of 'the mint is limiting coins due to the physical cash shortage' and today I saw where Aldi's will not accept cash unless you have the exact change. TPTB are obsessed with getting physical cash/coins eliminated! They can then track every single dollar we have and also impose negative interest rates!

Also, 'Zincoln's' are up to 96% of melt value! Save ALL nickels and pennies! I am also utilizing cash and trying to keep transactions cost to a minimum! jmho

[Cu Penny Hoarder]

The 'discontinuance of all physical money' is in full swing! Daily I see physical signs of 'the mint is limiting coins due to the physical cash shortage' and today I saw where Aldi's will not accept cash unless you have the exact change. TPTB are obsessed with getting physical cash/coins eliminated! They can then track every single dollar we have and also impose negative interest rates!

Also, 'Zincoln's' are up to 96% of melt value! Save ALL nickels and pennies! I am also utilizing cash and trying to keep transactions cost to a minimum! jmho

Yes, yes, yes, yes and yes!

[Cu Penny Hoarder]

I need to start hoarding nickels. Nickels are making more and more cents these days.

Starting thinking this way sometime in 2020. My bank is charging me $7 per box. Now have many 5gal buckets full. For every $300 searched I usually find a war nickel and a couple buffalos.

Cu pennies have been disappearing from circulation. Most penny boxes I'm getting these days have 0-5% copper in them, maybe 10% if I get lucky. 2 years ago I starting keeping the zincs too... they're almost at face value now.

[willy13]

I need to start hoarding nickels. Nickels are making more and more cents these days.

Starting thinking this way sometime in 2020. My bank is charging me $7 per box. Now have many 5gal buckets full. For every $300 searched I usually find a war nickel and a couple buffalos.

Cu pennies have been disappearing from circulation. Most penny boxes I'm getting these days have 0-5% copper in them, maybe 10% if I get lucky. 2 years ago I starting keeping the zincs too... they're almost at face value now.

Do you know if the coinstar machines and the like will accept war nickels? In other words, If I buy a bag, is there a chance that a war nickel will be in their?

[Cu Penny Hoarder]

Do you know if the coinstar machines and the like will accept war nickels? In other words, If I buy a bag, is there a chance that a war nickel will be in their?

I didn't know you could buy coin bags from Coinstar... really?

Don't really know, but I've found many silver coins in the coinstar reject bin. My guess is the machine would reject war nickels, although I've never found one in the reject bin.

[willy13]

Do you know if the coinstar machines and the like will accept war nickels? In other words, If I buy a bag, is there a chance that a war nickel will be in their?

I didn't know you could buy coin bags from Coinstar... really?

Don't really know, but I've found many silver coins in the coinstar reject bin. My guess is the machine would reject war nickels, although I've never found one in the reject bin.

A local bank has a coin counter that might sell bags, I have not asked.

[shinnosuke]

Do you know if the coinstar machines and the like will accept war nickels? In other words, If I buy a bag, is there a chance that a war nickel will be in their?

I didn't know you could buy coin bags from Coinstar... really?

Don't really know, but I've found many silver coins in the coinstar reject bin. My guess is the machine would reject war nickels, although I've never found one in the reject bin.

Both the current Jefferson nickel and the war nickel weigh 5 grams according to coinflation.com. If the Coinstar goes by weight, and I believe it does, then it will consume war nickels that aren't culls.

[Silver4face]

I know people that will consume war nickels. LOL

[Recyclersteve]

To anyone who hoards pennies. Dad joke alert...

I've got a disguise for you. Imagine going into a bank. Two tellers are talking. One says to the other- "Oh it's them again." The other one replies, "I've known them since the early 80's. They're the Lincoln family, Victor and Penny. Victor says his favorite comedian of all-time is David Brenner and that his wife is a perfect 70."

[Recyclersteve]

Do you know if the coinstar machines and the like will accept war nickels? In other words, If I buy a bag, is there a chance that a war nickel will be in their?

I didn't know you could buy coin bags from Coinstar... really?

Don't really know, but I've found many silver coins in the coinstar reject bin. My guess is the machine would reject war nickels, although I've never found one in the reject bin.

Both the current Jefferson nickel and the war nickel weigh 5 grams according to coinflation.com. If the Coinstar goes by weight, and I believe it does, then it will consume war nickels that aren't culls.

I don't remember finding any war nicks in the local machines, so that makes sense. Lots of silver dimes and quarters in about 15-20 years of checking, but no halves or war nickels that I remember.

[JerrySpringer]

Also, 'Zincoln's' are up to 96% of melt value! Save ALL nickels and pennies! I am also utilizing cash and trying to keep transactions cost to a minimum! jmho

wow, had to look that up on coinflation. as of today, 02/28/2022, zincolns are at about 95.6% face value metal.

what is up with zinc prices?

[Cu Penny Hoarder]

Also, 'Zincoln's' are up to 96% of melt value! Save ALL nickels and pennies! I am also utilizing cash and trying to keep transactions cost to a minimum! jmho

wow, had to look that up on coinflation. as of today, 02/28/2022, zincolns are at about 95.6% face value metal.

what is up with zinc prices?

I keep them all now.

[JerrySpringer]

Also, 'Zincoln's' are up to 96% of melt value! Save ALL nickels and pennies! I am also utilizing cash and trying to keep transactions cost to a minimum! jmho

wow, had to look that up on coinflation. as of today, 02/28/2022, zincolns are at about 95.6% face value metal.

what is up with zinc prices?

I keep them all now.

I will turn in the zincolns to buy more rolls of cents to look for copper ones.

I am wondering if other countries had such an arbitrage opportunity on this inverse seigniorage for common circulating coins whether they would do the Gresham's Law thing. Seems to me that when a copper cent is worth 3x in metal value vs. face, then it is apparently a screaming opportunity. Are there any other countries with such a dramatic coin Metal % of Face Value ?

[Silver4face]

Yes there is- Canada with pre 1982 nickels. They are worth more than 2x face, but getting very difficult to find.

[TXSTARFIRE]

Zincoln melt value now more than face value, keep them all boys!

[willy13]

Zincoln melt value now more than face value, keep them all boys!

Never thought Zinc would see such a surge!

[willy13]

Will little Joey let the penny go?

[Cu Penny Hoarder]

Zincoln melt value now more than face value, keep them all boys!

Never thought Zinc would see such a surge!

Oh yeah! Been keeping them for a few years now. Got several 5gal buckets full. Viva Zinc!

[Silver4face]

Will little Joey let the penny go?

Sleepy Joe might not even know or care what a penny is.

[Silver4face]

BUMP! It is almost 2025 and there are still no plans to discontinue the penny. Also, when this thread was last active base metal prices were significantly higher than they are now.

At this point, discontinuance is unlikely to be an isolated thing, but rather part of a monetary overhaul or reset. For example, when canada eliminated the penny in 2012, it was a singular event as no other changes were made that year.

[hirbonzig]

Now that Elon will be in charge of government efficiency the cents days are numbered.

[coindood]

Now that Elon will be in charge of government efficiency the cent's days are numbered.

I dunno...

Legislation to make coins is already in place beyond the July 4th, 2026 deadline that Trump has given the DOGE boys to clean things up. I'd love to see the penny discontinued, but it could very well outlast Trump's 2nd term.