Copper cents off the market

[Dozer D]

Does anyone think that the U S will ever drop the penny (cent) from the current monetary system similar to what Canada did a few years ago? What does the U S stand to gain & loose if they did, I have no thoughts on this move. If they did, wouldn't the price of COPPER skyrocket or plummet like a rock? I've been copper cent (pre-'82 cents) hoarding for the past 4-5yrs hoping that they will become a small investment as a PM. Comments for discussion.

[kcm]

I think one day they will, but there's still a lot of money flying around. It has been said for many years that the Mint loses money on cents. That's most likely very true. Yet there MUST be a reason they're still minting them!!

When in doubt, I always follow the saying, "Follow the money", and I don't mean the cents they're stamping! For example (and I'm ONLY hypothesizing here!!), the Mint buys their blanks from a source. And their source gets the metals from their source. If the gov't is losing money in these dealings, is it possible they could be gaining in another way? Like maybe in PAC donations or some such?? ...This is the point I was trying to make. Again, just pondering. But it gets me to thinking sometimes!!

[Diver_Down]

I think one day they will, but there's still a lot of money flying around. It has been said for many years that the Mint loses money on cents. That's most likely very true. Yet there MUST be a reason they're still minting them!!

When in doubt, I always follow the saying, "Follow the money", and I don't mean the cents they're stamping! For example (and I'm ONLY hypothesizing here!!), the Mint buys their blanks from a source. And their source gets the metals from their source. If the gov't is losing money in these dealings, is it possible they could be gaining in another way? Like maybe in PAC donations or some such?? ...This is the point I was trying to make. Again, just pondering. But it gets me to thinking sometimes!!

You are overthinking it. Fact: The US Treasury is the only Federal department that returns a profit to the government. One word - Seigniorage. The difference in the cost to produce the coin and the face value. In the case of the cent, they lose money. Big deal. But look at the quarter, big money maker. The offset is overall a profit is made in making coins for circulation. Now, look at the programs for collectors. Massive profits are made.

[SorenCoins]

I mean, since 1982 they can make them for less than a cent to make, so I'm not sure. The day will come Im sure though.

[vpnavy]

IMHO - it will never ever happen. The penny will be with us forever - period!

[scruggs]

The Penny is here to stay!

[bakkhoe]

Cent is required only for sales tax. Other than that, it is a useless coin. It's value in purchasing power is insignificant. Note how many are just thrown away.... check out a parking meter area with your detector, you probably won't even need a detector to find a handfull.

[Johnnybravo300]

The lose of purchasing power more than makes up for the mass printing of worthless money. They dont lose money on printing DEBT, but you do.

[xr7ator]

I mean, since 1982 they can make them for less than a cent to make, so I'm not sure. The day will come Im sure though.

This is incorrect. It costs 1.8 cents to make one penny and 7 cents to make a nickel.

[Peyton Manning]

I too keep the copper ones, guess when the world ends I can melt them down and make water pipes!

[A2coins]

thats crazy

[Johnnybravo300]

There's not enough copper in them to affect the copper market. Maybe zinc but zinc is worthless anyway.