How would you like to "Dive" into this!

100 Million Pennies!

Rhubarb

http://cityroom.blogs.nytimes.com/2007/12/10/making-cents-for-children-at-rockefeller-center/

 

Log in or Sign up to hide this ad.

Interesting article. Thanks for sharing.

 

huh? what? wheres the board? Even scrooge McDuck had a diving board for his money bin!

that looks cool!!!

 

You would think that Spitzer would have something better to do with his time.

 

That's cool.:kewl: Can you imagine the look on a tellers face when you tell them you have some change that needs counting!! Mabey they will wheel in a few coin star machines when they are done with the display.

 

Could you imagine the fees they would rack up?

 

I inadvertently started a separate thread on this 100 million cents and they're all unsearched!!!!!. An article says they are going to suck up the pennies with vacuum trucks and put them into duffel bags. It didn't say how they are going to count them or where they think they can take them to be cashed in.

Maybe they should move to Ohio, buy a congressman to change the law and melt the coins. That would be worth more.

 

Interesting ! If the intent is to help people, that may not be a bad idea.

What's the metal value in a 1c these days ? 1.3c ? If so, that's 30%, so the $1 million dollars worth of pennies has $300,000 extra dollars in there (minus melting / processing costs).

 

I would check every single date no matter how long it took me. My back would hurt and my eyes would go in and out of being able to see. Id prob stay up all night long for months until I went through them all. Well, at least thats what happened when I bought all my grandmothers Pennies. I bought 6, 5 gallon buckets off my grandmother. I went through them all, took me almost 2 weeks. I even sorted them and did a roll set while I was at it. I had so many coins and just couldnt stop checking dates till they were all gone. I even set aside all the dates that had double dies and other varieties. Then I went back through everything I set aside.

 

Whos going to sort the copper from the zink??

 

Wow, imagine going through all that. Man. Thanks for sharing man!

Phoenix

 

I don't think they would be sorted per se. Probably you separate them after melting while mixed in the molten state.

Mixed metals are purified all the time... that's how they get .999 fine gold or silver. It's all about chemical processing and metallurgy.

One can look up the details, but I'm not going to delve that deep into it.

 

does anyone see a problem?

Does anyone see a problem with taking this many coins out of circulation each year? I know the mint makes billions of cents each year but over 20 years! Imagine if each year kids collected 400,000 more than the year before. Over the years, the numbers would be mind boggling. That doesn't say much for the future collector's. As for melting for copper, which is what is going to happen from every display they have over the years. Once these coins are counted and returned to the government for cash do you really think they are going to return these into circulation! Yes, the 30% return if fine now, but is anyone thinking of the damage is will be do to the future of the licoln cent? Can this be the governments way of abolishing the lincoln cent? sounds easy enough, just let the kids collect them and then melt them. How can any collector have an accurate mintage if the government melt's millions or even billions of cents each year. This is added to the millions they must melt each year now. Why stop at pennies, why not start a collection of nickels or dimes! Does anyone see a problem here? Or am I the only one? i find this very disturbing to say the least. Just my 2 cents worth.

Ron

 

I was just thinking that post 82 cents had less than 1 cent worth of copper in them, but I may be wrong.
I guess if the zink could salvaged also they may get over 1 cent worth each in bulk when melted.

 

theres probaly all kinds of wheats, indian heads, flying eagles!:rolling:

 

Diving into that pool would be extremely painful and hazardous to one's health.

That aside.

Auction time! The biggest lot of unsearched coins ever!
Think of the shipping fees!

 

Very cool post

 

Yes, I do.

When I was a kid, I noticed that Lincoln cents had mintages of 4 billion a year (Philly alone). Now, on this thread, I find out that the number of cents in circulation is over 600 per person !

600 per person ???!??!? Where the heck are all those pennies ?

I rarely have more than 4, b/c that's all that's needed to make change. I spend 'em.

I think most non-numismatists simply don't bother making exact change and wind up with 100s of 'em at home in a jar.

And we complain that the mint is inefficient, b/c the metal in a penny is more than 1c !

For those concerned about the cost of making cents, we should not ask the mint to make 600 per person.

 

600 per person, thats only $6.00. I probably have that many in my change jar at home.

 

It's all good. Coin collectors will collect !

But for the vast majority who aren't coin collectors... and for those concerned that it costs more to make pennies than they're worth, and advocate ending the cent...

Maybe we're better off not having 200,000,000,000 pennies lying around
collecting dust. Commerce doesn't require all 300,000,000 Americans to have 600 pennies each.

No big deal.