I just heard on the news last night (Fox) that Elon Musk is looking to eliminate the penny as it costs over 3 cents each to make. A few months ago Chicago Fed President Austan Goolsbee discussed the possibility of converting all pennies to a 5-cent valuation (like the nickel).
I’m not at all married to my boxes of zinc pennies. I just want to be able to make a little extra money on the side.
So, here are my questions:
1) When Canada discontinued their penny, did Canadian collectors and others hoard them in any meaningful way?
2) If I were to sell a bunch of Canadian pennies in Canada right now, how much of a premium could I expect to receive? Would it matter whether the Canadian pennies were copper or not or a combination of copper and steel mixed together?
3) Does anyone realistically foresee zinc pennies in the U.S. being worth something extra anytime soon?
Did Canadians Hoard Pennies When They Were Eliminated?
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Did Canadians Hoard Pennies When They Were Eliminated?
by Recyclersteve » Sat Jan 25, 2025 3:46 pm
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
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Re: Did Canadians Hoard Pennies When They Were Eliminated?
by Silver4face » Sun Jan 26, 2025 12:00 am
I'm willing to convert ALL of my post 1939 pennies to a 5 cent Valuation!!!
Buy rolls NOW while you still can!
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Re: Did Canadians Hoard Pennies When They Were Eliminated?
by Recyclersteve » Sun Jan 26, 2025 2:53 am
Silver4face wrote:I'm willing to convert ALL of my post 1939 pennies to a 5 cent Valuation!!!
Ditto!
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
- Recyclersteve
- Too Busy Posting to Hoard Anything Else
- Posts: 4640
- Joined: Sun Jan 20, 2013 5:59 am
- Location: Where I Want To Be
Re: Did Canadians Hoard Pennies When They Were Eliminated?
by Lemon Thrower » Sun Jan 26, 2025 5:49 am
Recyclersteve wrote:I just heard on the news last night (Fox) that Elon Musk is looking to eliminate the penny as it costs over 3 cents each to make.
Fox must read Realcent!!!!!
viewtopic.php?f=7&t=46851
Lets Go Brandon!
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Lemon Thrower - Too Busy Posting to Hoard Anything Else
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