Now that that Canadian cents are obsolete (after this year), how long before the US cent follows? Not long I suspect...nor do the many people that bid on uncirculated wheat rolls on eBay. It seems to me that the "realized" prices for these rolls has increased quite a bit over the past year. Question: Are you among those pushing up the prices for uncirculated wheat rolls? :thumb: (I just bought two (2) OBW rolls of 1951-D for $45/roll.)
I actually think if the cent U.S. cent becomes obsolete it will push down the prices of the series as a whole in the medium term. The only possible reason for the price of an 09 s vdb to be around a grand is the huge demand from baby boomers who started collecting their Lincoln cents when they were kids. If the next generation never starts a Lincoln cent collection, because they are not in circulation, then demand will eventually come down a lot for wheat cents.
Inasmuch as cents are a burden on the economy - I still like going through boxes and finding coins that have been circulating for as much as 100+ years - like the three weeks ago find of an 1882 IHC. I have four boxes of the little darlings coming into my credit union for me to pick up this afternoon.
Wow...I would think just the opposite would happen. Once the Mint stops making them, the FED will stop returning them to circulation...especially the 95% copper ones. I would expect that many folks (especially the Baby Boomers) to take up Lincoln Cent collecting again and share the fun with their grandchildren.
In 2011, a good friend at work had a seven (7) year old grandson (Jake) that was coming for a month long visit in the summer. His daughter lives in San Diego and her husband was going through an Air Marshall training course in the summer so she decided to bring her son out to visit with Grandma and Grandpa for a month. I noticed that folks at work would throw away their pennies in the cafeteria so I went to the local coin store and bought the "Harris" Lincoln cent folder (1975-Present). I put it on top of my cubical flipper and told everyone it was for Dave's grandson...folks had it filled in about a week! I went back to the coin store and bought the 1941 - 1974 folder and that one nearly filled, too. Everyone really had a great time looking through their coin jars and filling/upgrading the folders. Dave told us that he gave Jake the coins one evening...loose, in a bag. Jake had a ball "discovering" the dates and putting them back into the folders. That's pretty much how I got started collecting coins, too. I can't imagine that going away.
In all honesty, I doubt anyone alive today will see the cent come to an end in the US. They've been trying to eliminate it since the large cent days. Guy
It just ended in Canada...why not here? Up until the 1960's, you could actually buy something for 1¢...a stick of gum, some rock candy, etc. Today, the cent has no role in "commerce"...which is the reason for minting coins in the first place. ...and if you say, "We need it for change...so we don't get screwed over by The MAN!!"...that's just ignorant. :kewl:
Because Canada has a weak lobbying group. They got rid of cheap and non durable paper currency in favor of polymer, like most of the world has. Can you see the US doing that? Paper and cents will be around for as long as the US is around. Guy
even though i like collecting coins and currency you are implying that there will never be a majority of like minded commen sense people elected to congress:dead-horse: :devil:
Obama says the penny is a metaphor for "wasted government" in recent statement: Obama: Penny Is Obsolete, A 'Metaphor' For Some Of The Problems With Government
Penny says the Obama is a metaphor for "wasted government" in recent statement: Penny: Obama Is Obsolete, A 'Metaphor' For Some Of The Problems With Government
It's because the RCM is a Royal Corporation. They tell the government what they're going to do, and the government accepts it. In the States, the government (Congress) tells the Mint (and Fed) what to do, and the US Mint has to abide.
how about cheap items like this to minipulate the system if this happens...... if i buy one it would cost me 5 cents with the my local tax rate but if i buy 2 it would cost me 15 cents but if buy 2 of them seperate ...only 10 cents hmmm??
Are you sure about the part that i highlighted? To me it seems the Fed does whatever it darn well pleases and asks for no ones blessing or oversight, surely not a congress that cant even pass a real budget. The Federal Reserve is a business and as such has no time for silly little decision making from policy makers, they have money to print and loan out, thats all they are concerned about. Afterall, every dollar made is more money earned for them, its not like they loan it out a negative or TRUE zero interest rate. Oh and if you really think the Fed is beholden to our government and by extension its people, then tell me how their Audit turned out? Oh right, they denied access to all but their most trivial and unimportant information.
