Wheat cent spec-you-lation

[Eminem]

dawg, I think hoarding wheat cents are smart and will increase in value and here's why:

-The rising costs of copper make them automatically worth 2 cents

-When the U.S. decides to eliminate the cent, they will melt down hundreds of millions of cents including the wheat cent. This will give even the most common wheaties more value.

-When they discontinue the cent, demand for ALL cents will rise, especially indian head cents and wheat cents. It is the idea of supply and demand, if people can't find wheats in boxes or pocket change anymore they will pay more

-More and more wheat cents are getting destroyed and lost forever. Over the years this will have an impact of the supply of wheats available.

-The wheat cent book will always be many peoples' favorite series to collect. Lincoln is many peoples' favorite president.

What does you guys thinks??

 

[PhattyB]

Lincoln is many peoples' favorite president.

If you like tyrants that empowered the federal government thru a war to steal state's rights. Yeeehaw!

 

[50cent]

Calling cents pennies is like saying "I could care less" instead of "I couldn't care less." Just because most people do it, doesn't make it correct.

thripp you are spot on, good analogy, cause if we loose the basic fabric of meaning, we loose it all.

 

[MIhunter]

I could care less about using the word penny vs one cent, but I don't. Life goes on.......

 

[SilverForBrains]

Em glad to have you back. These are all great points, as well as some of the arguments against it. My thoughts, wheats will increase in value. While the silver coins didn't, it is because their silver value is large relative to their collector value. Pennies on the other hand, have higher collector value relative to bullion value. Therefore, melting large quantities will cause a higher relative price increase. And em is right, a few cents really makes a difference. If each wheat was worth ten cents, I'd be doing pretty good.

By the way, there are things called figures of speech - language used in a non literal or figurative sense. Penny is a figure of speech. When I call someone driving bad a *******, it doesn't mean I think they were born before their parents were married. By inference of these 'be correct arguments', should I instead yell out the window 'sir your driving is rather reckless and I fear we may crash?'

 

[Thorne]

I would love to see some yelling this.

 

[Owassokie]

Thorne,

Why do you care about someone using the term 'penny' when you use the term 'Indian Head'. It's not an Indian Head. It's Lady Liberty with a head dress. I don't have an issue with the I.H. term but I also couldn't care less about calling a cent a penny or a cotton swab a Qtip.?

 

[Thorne]

1. I made my comment in a joking manner hence the lol.
2. I call it a cent because all numismatic folders refer to them as cents.
3. Those same folders use the terms Indian head, Buffalo and mercury.
4. No local coin shop I've ever been on has used the term penny for a us cent. Nor have they used the term liberty head.
Also I heard today (haven't looked it up yet) that its the designers daughter on the coin not lady liberty.

 

[FloridaFinder]

4. No local coin shop I've ever been on has used the term penny for a us cent.

The correct sentence would read, "ever been to", not "ever been on". LOL

I say this jokingly because if we go correcting everyone on cent vs. penny we might as well correct all typos, grammatical mistakes, etc. This is the CRH section of the Treasure Hunting forum, so I'd love to see everyone share CRH finds, people helping others, and everything else CRH related. Let's leave the snooty numismatics term squabbles on other websites, and share the experiences of the treasures we find.

 

[50cent]

ITS NOT 'bout the grammar, its about ID, we gotta know what you are talking about. CENT vs PENNY, its only a matter of time before people start realizing that its not a grammatical issue but one for correct ID of said coins.

 

[FloridaFinder]

ITS NOT 'bout the grammar, its about ID, we gotta know what you are talking about. CENT vs PENNY, its only a matter of time before people start realizing that its not a grammatical issue but one for correct ID of said coins.

This is silly. Most of us live in the US or Canada. We don't live in England, so if someone here says penny or cent we know they're they're talking about the US or Canadian Cent. No confusion caused, no ID problem.

We'd all be better with less talk, and more opening of rolls of coins, right?

HH

 

[sagittarius98]

If you like tyrants that empowered the federal government thru a war to steal state's rights. Yeeehaw!

It's a fact many people like Lincoln, and let's get politics away from this thread.

 

[sagittarius98]

Also I heard today (haven't looked it up yet) that its the designers daughter on the coin not lady liberty.

It's Liberty. Why would there be "Liberty" on the coin otherwise? It may be modeled on her though.

 

[sagittarius98]

All valid points. However, I'm not sure the value will automatically increase if/when the cent is discontinued. First off, there will be no way to accurately track population numbers of both how many are in existence and how many get melted. MANY silver coins were melted during the Hunt Bros. silver run up in 1980. The values of common date Rosies, Washington quarters, etc did not rise even though millions of each likely got melted. I don't see why it would be any different with wheaties.

Good point, even if all but 500 of a year were melted, there would be no way to tell.