Pennies will be History......

[Fuj]

Somewhere in the safe, I have 26 rolls of wheat pennies. Most are
San Fransisco mint. I'm meaning to see our local dealer about them.
If he won't haggle, I'll look at scrap price. If the government stops
making them, and there's a point they will no longer be excepted,
they should then be legal to scrap. Then there's Canadian. Should
have stocked up every time I went up. i would have a t least doubled
my money in the scrap price. if not much more because of exchange
rate......

 

[jds holler]

Somewhere in the safe, I have 26 rolls of wheat pennies. Most are
San Fransisco mint. I'm meaning to see our local dealer about them.
If he won't haggle, I'll look at scrap price. If the government stops
making them, and there's a point they will no longer be excepted,
they should then be legal to scrap. Then there's Canadian. Should
have stocked up every time I went up. i would have a t least doubled
my money in the scrap price. if not much more because of exchange
rate......

I'll give ya 2 cents each for them. jd

 

[CJ6]

As long as they're still blanks available they will be made though they are not making anymore blanks.
They will still be legal tender as long as they exist though.

 

[Kracken McGraw]

When we were kids we would put them on the RR tracks to get them flattened.

 

[dryhumor]

And Gold is GOD. 1 oz of gold is worth way more than the same $$ amount printed on paper.

Gold is a finite resource. I’ve read that all the gold on the planet would only fill a few olympic sized pools. Paper money here in the US is worth something like 91-92% less than it was in 1960. In some countries, paper money is the equivalent of toilet paper…

FWIW. I did use 3 pennys this morning when I bought some mineral rocks at the feed store.

 

[mikeinct]

That means more copper for bullets.

pretty good thought new guy. mike in ct damit

 

[mikeinct]

So I guess everything will be rounded up to a nickle......Now.....What will they do
about the 9 tenths of a cent pricing on gasoline ?? Our area gas is now at 3.199.
And no more giving someone my 2 cents.....LOL I guess it will be a nickles worth
now......I wont miss them.

I stand alone gentlemen. I want "Money" that retains value. Federal Reserve Nonsense since 1913 scheming n planning the demise our children's future. Book it. I'm not normally wrong in serious money matters. Plan your futures accordingly. Mike is still in CT Damit

 

[mikeinct]

I'll come back to this topic later. Let me say this about money. We are being Hosed on a level unseen in History. This Debt? Money "bob" ? Yeah, let's just call it a BoB. I'm frustrated I'm the only one this upset with our current state of "money" ??? A poor joke...Our Affairs.? State of the Union our Republic ? I give up the floor mr. chairman sir. Mike in Ct, out to fishing w madam. amen

 

[Gary in MD]

Pennies?
Not worth the time to bend over and pick up off the grocery store parking lot.

 

[Toolbreaker]

I've got two pickle jars in the den, about 4-5 gal. each: one for pennies & the other silver that I empty my pockets in daily. The pennies are full to the neck and silver ~70% full.

I rolled $1500 of silver last month for a new set of AT tires for my truck. Hardly made a dent in the pickle jar, and I got something I wanted.

 

[Downhill]

I have a dozen or so of the old WW II steel pennies. Drag a magnet through the change jar at the end of the year and get one every now and then.

 

[Straightshooter1]

That means more copper for bullets.

Penney's made today are mostly zinc. . . .like, 98% with just a thin copper plating. That's been going on since the early 80's. So, it's not going be that much more copper available as one might think . . . though a few billion of the penny's are still going to be made until they run out of penny blanks.

I've got a couple penny collections that my father and I started back in the 50's and I've been adding to the collection every year.

 

[M-61]

Many businesses charge extra (3-4%) more if u use a credit or debit card

Debit, no it’s a rip off.
Credit, the merchant pays the CC company a negotiated % for taking the card.
I have no idea about any area other than where I live. Don’t take credit cards? You’re going out of business, as your competitors will eat you alive by taking the plastic. Fact is folks aren’t walking around with pockets full of cash. Need a car repair or tires for example. Number of people with that cash is nearly nonexistent.
The credit card company I referred to as my ‘silent partner’ who never showed for work, but never failed to take what they call ‘merchants discount.’

 

[JFrank]

Well there are millions of penny in circulation now, unlikely we’ll run short on change.

 

[gdbleb]

Debasement of the currency has been going on for thousands of years. It used to be done to ease the repayment of war debt. You see old gold coins with shaved edges which was done when the nominal value of a coin was less than the value of the gold content. Now debasement/inflation is a permanent ill as the political classes overspend to buy votes.

A gentleman I shot with for years put it succinctly - "Everybody wants free stuff".
The academics will cite "The tragedy of the commons".

Us oldsters remember the 80's and the Volker years.
The youngsters who only know near-zero interest rates and low inflation are in for a very rude shock.

 

[Mark W]

Just another step towards all digital currency. IMO, of course.

 

[jackieschmidt]

Hey, I didn’t not say I did not carry cash.
I just said I didn’t use it very often.

 

[Jayplace]

I think we can survive without the penny. For many years now, when I get Penneys the first thing I do when I get home is take them out of my pocket and put them in a container and they stay there. Nickels dimes and quarters may get taken to be used, but not Penneys.

As far as it being devastating to not having the pennies, just remember, there used to be 1/2 cent coins and we survived that change.

Gold may have value, but it doesn't work well as a medium of exchange. Most people can't say what the value is of a piece of gold and most places won't accept it. Try buying a loaf of bread at the market.

 

[Jayplace]

Just another step towards all digital currency. IMO, of course.

Digital can be just another form of currency. Most places still take cash, but for the sake of convenience and often security, digital is becoming more common.

It varies with what it's used for, but nearly everything I buy is ordered on line. The purchase is instant and the business doesn't have to wait for a check and I'm provided with some security it's a valid purchase. Not everyone is set up for digital sales with security, so there can be risks there and often times people want payment by check.

 

[Mark W]

Digital can be just another form of currency. Most places still take cash, but for the sake of convenience and often security, digital is becoming more common.

It varies with what it's used for, but nearly everything I buy is ordered on line. The purchase is instant and the business doesn't have to wait for a check and I'm provided with some security it's a valid purchase. Not everyone is set up for digital sales with security, so there can be risks there and often times peopl want payment by check.

yeah, I’m aware of all that……lol. My comment was more because there are those who would like to do away with all forms of cash and move to digital currency only. That is not something I like, although like you I make most of my purchases online with a credit card.