The official Goodbye to the one cent

[pepperj]

I know it will take years and years yet of digging them. But they're not not going to be minted anymore.

 

[RobNC]

Why not bring back the 2 cent piece? Would be nice to see one again.

 

[signal_line]

Why not bring back the 2 cent piece? Would be nice to see one again.

Three cents with inherited inflation

 

[pepperj]

Why not bring back the 2 cent piece? Would be nice to see one again.

Been 13 years in Canada since they stopped minting them.
Sometimes its fun to mess with a teller. If something is 1.08 they'll round up to a $1.10
Oh I have the correct change, and I give them 8 cents.

 

[AusTexDude]

Holy ship this is a chance to make mega bucks. Get tons of pre 1982 pennies, when they go out of circ sell them for scrap value.

 

[AusTexDude]

I have a feeling the price of a pre 1982 penny will shoot up to 3 cents right out of the gate.

 

[Blackfoot58]

Holy ship this is a chance to make mega bucks. Get tons of pre 1982 pennies, when they go out of circ sell them for scrap value.

I’ve been saving them for a long time.
I have 8 two-pound coffee cans full of them and 1 partial jar. I’m not sure how many that is: all from 1960 up through 1981. Not really a fortune by any standard.
I’ll probably just keep them for the grandkids to have.👍🏼

 

[AusTexDude]

I’ve been saving them for a long time.
I have 8 two-pound coffee cans full of them and 1 partial jar. I’m not sure how many that is: all from 1960 up through 1981. Not really a fortune by any standard.
I’ll probably just keep them for the grandkids to have.👍🏼

Each coffee can must weigh about what, 30 lbs?

 

[Blackfoot58]

Each coffee can must weigh about what, 30 lbs?

I’ll try to bring one in a weigh it tomorrow.

 

[AusTexDude]

I’ll try to bring one in a weigh it tomorrow.

I'm taking an educated guess because I have a 2 lb coffee can filled with lead sinkers and that weighs about 40 lbs and lead is more dense than copper.

 

[Tesorodeoro]

I know it will take years and years yet of digging them. But they're not not going to be minted anymore.

View attachment 2192743

Cash prices will be rounded to the nearest nickle. This will result in a much higher demand for nickles. Anybody want to guess what a nickle costs to mint and distribute? $0.1378 for a $0.05 coin! Doesn’t sound like there will be a net savings.

 

[AusTexDude]

Cash prices will be rounded to the nearest nickle. This will result in a much higher demand for nickles. Anybody want to guess what a nickle costs to mint and distribute? $0.1378 for a $0.05 coin! Doesn’t sound like there will be a net savings.

They will probably start minting nickels out of Nickel plated zinc.

 

[ConceptualizedNetherlandr]

I admit not investigating, but doesn't congress have a say in minting coins?

 

[FreeBirdTim]

Sales tax is 7% in my state. How are they going to work around that? Round it up to 10%? I like the idea, but it's not practical when so many states charge more than 5% for sales tax.

 

[AU Seeker]

Sales tax is 7% in my state. How are they going to work around that? Round it up to 10%? I like the idea, but it's not practical when so many states charge more than 5% for sales tax.

Sales tax is based on 1 dollar, so the sales amounts less than 1 dollar will still be less than 5 or 10 cents, so don't know how the states will work that out, I'm sure to their advantage!!

 

[jrf30]

Sales tax is 7% in my state. How are they going to work around that? Round it up to 10%? I like the idea, but it's not practical when so many states charge more than 5% for sales tax.

It will still be 7%. And if you spend exactly $1, it shall be 5 cents. If you spend $2, then it is 14 cents and rounded to 15 cents. It rounds to the closest five cent level. Over time, it will even out. No reason to round it up to 10%, because there are so few things that sell for exactly $1.

 

[jeff of pa]

unless they do away with sales tax , I'm a Wanting 5Cents if the store has no Pennies to give me.



They will have to Round Down - Not Up



don't short me

I'll Take my Business Elsewhere and leave the counter full of groceries

 

[beepbleep]

Well, bye to the crusty metallic junk.

 

[jewelerguy]

I admit not investigating, but doesn't congress have a say in minting coins?

That's how it's supposed to work. As long as I can remember, congress has always been the ones to approve changes to coinage. I know the idea of doing away with the penny has been discussed at some time in the past. Maybe if this actually happens, someone might actually get excited when they dig a stinkin' zincoln.

 

[ToddsPoint]

I have 60 lbs of pre ‘82 cents. Roughly 6,000 coins. They have never been checked for collector coins. All accumulated from change from ‘74-‘82. What happens when the value of a pre ‘82 cents reaches $.05? I’m thinking they will be used again. Perhaps illegally and underground, but I think they’ll be with us for a while.