No more pennies will be minted

[Stann]

The guy who owned the convenience store near my old office never accepted pennies. Everything was rounded up or down. Some people actually complained, they wanted their 2cents in change. Let them complain. He just never used pennies.

The penny represented a lot more. It was tradition , represented stability and strength of our nation. If we consider it worthless , how long before we consider it all worthless. OuTye value of our money is based on the people's faith in it. That will be the end of US. When people lose faith in their government and that is what trump has ushered in all along. Criminals despise government and with good reason.

 

[justoffal]

Ever hear of currency re-evaluation ?

Sure something that happens 24/7 since forever.

 

[justoffal]

The penny represented a lot more. It was tradition , represented stability and strength of our nation. If we consider it worthless , how long before we consider it all worthless. OuTye value of our money is based on the people's faith in it. That will be the end of US. When people lose faith in their government and that is what trump has ushered in all along. Criminals despise government and with good reason.

YAWWWWWN.....the United States isn't going to end because of the penny. It's still there in digital form and soon so will all paper be.

 

[Stann]

YAWWWWWN.....the United States isn't going to end because of the penny. It's still there in digital form and soon so will all paper be.

Agreed , it's just one little factor in a plethora of others that will humble US..

 

[justoffal]

Agreed , it's just one little factor in a plethora of others that will humble US..

Cultural rot being the leading culprit

 

[justoffal]

There hasn't been a copper penny minted since 1982.

What do they use nowadays? Aluminum?

 

[22lcidw]

The nickel costs over 14 cents to produce.

 

[justoffal]

The nickel costs over 14 cents to produce.

How rediculous ....it should be stopped

 

[Cellblock2429]

Not sense to the consumer. The penny was basically worthless , a tenth of a penny means absolutely nothing.

/----/
The mil, or one-tenth of a penny, is important because it allows for precise calculations in various financial contexts. It is used in tax calculations, particularly for property taxes, where local governments set a tax rate in "mills." For example, a tax rate of "10 mills" means that for every $1,000 of your property's value, you would pay $10 in tax. This helps governments collect very specific amounts of money for public services like schools or roads. Additionally, mills are used in pricing gasoline, where the price is often shown in terms of a fraction of a cent. This small fraction can add up when buying many gallons of gas, making it essential for accurate pricing.
Wikipedia

 

[Cellblock2429]

Pennies were worthless when I was a kid

/---/ They were never worthless. 100 of them is worth a dollar.

 

[OhPleaseJustQuit]

It has everything to do with it.

Copper (you know, a REAL penny) is sneaking up on 3¢ in value with today's currency.

The "dollar" of today buys what about 5¢ did in 1913.

.

I used to search through rolls of pennies to save the real copper ones, for therapy. That'll be history soon.

My older brother was such a goof, he'd get $50 bags of pennies for me to search through. This was Montana winter when we'd get snowed in.

.

 

[Cellblock2429]

How rediculous ....it should be stopped

/----/ We still need small coinage. Perhaps private companies could produce it cheaper.

 

[JGalt]

/----/ We still need small coinage. Perhaps private companies could produce it cheaper.

The store chain I work for stopped charging pennies on cash transaction about a month ago, and rounding them down to the nearest nickel. We do however continue to use cents in credit and debit card sales. The "take a penny, leave a penny" dishes are gone from the counters, and those little plastic donation boxes on the counters are filling up with nickels, dimes, and quarters.

I still see customers come in with pennies once in awhile, and sometimes there are wheat pennies in with them. I try to keep some newer pennies in my pocket so I can exchange them for the older ones when I find them.

 

[JWBooth]

The store chain I work for stopped charging pennies on cash transaction about a month ago, and rounding them down to the nearest nickel. We do however continue to use cents in credit and debit card sales. The "take a penny, leave a penny" dishes are gone from the counters, and those little plastic donation boxes on the counters are filling up with nickels, dimes, and quarters.

I still see customers come in with pennies once in awhile, and sometimes there are wheat pennies in with them. I try to keep some newer pennies in my pocket so I can exchange them for the older ones when I find them.

Any lincoln and indian head penny minted before 1982 has the same metal content and melt value.
Today they are valued at $.0333 each.

Since you are working around coins, the coinflation app is handy as is https://www.coinflation.com/

 

[JGalt]

Any lincoln and indian head penny minted before 1982 has the same metal content and melt value.
Today they are valued at $.0333 each.

Since you are working around coins, the coinflation app is handy as is https://www.coinflation.com/

There's more in collectible value. A worn 1942 P wheat penny can bring up to $1.00 on Ebay, if someone wants to go through the trouble. I just like old shit, so I snatch them up and throw them in a jar.

 

[JWBooth]

The nickel costs over 14 cents to produce.

The 75% copper 25% nickel 5 cent coin has a melt value of $.0602. Treasury has for years been threatening to debase the metal content of this coin.

 

[OhPleaseJustQuit]

Any lincoln and indian head penny minted before 1982 has the same metal content and melt value.
Today they are valued at $.0333 each.

Since you are working around coins, the coinflation app is handy as is https://www.coinflation.com/

.

Actually, some of the 82 pennies are copper and some are not. Weigh them to find out whether they're copper or not. The copper pennies are heavier. They also sound different if you drop them on the table, but I don't have an ear for the difference.

.

 

[justoffal]

Any lincoln and indian head penny minted before 1982 has the same metal content and melt value.
Today they are valued at $.0333 each.

Since you are working around coins, the coinflation app is handy as is https://www.coinflation.com/

Soooo 3.3 cents?....

 

[JWBooth]

Soooo 3.3 cents?....

yep
That is today’s melt or bullion value.
Shrub Bush signed the bill making the melting down of nickel and penny coins for their metal illegal - Section 5111(d) of title 31, United States Code

 

[Stann]

Cultural rot being the leading culprit

When the main culture starts attacking it's subcultures it is cultural suicide. No one survives.