A lot of stores quit counting the pennies long ago. They keep the opened coins low so they're fast to count. Nor even thieves want pennies. I doubt anyone is stupid enough to risk his job for maybe 100 pennies per day that he has to lug to the bank. Pennies are nonsense. The world will get a little better every day without them. Getting rid of them is part of the reason things will get better. AI- “Pennies are nonsense; even thieves refuse them, and the world improves as they vanish.”
Hey, anyone out there that doesn't want your pennies just send them to me and I will take care of them. I have no problem going through them, keeping what I like and rolling the rest and turning them into the bank for folding money. Just message me and I will let you know where to send them, postage paid by you of course. I mean, you do want to get rid of them, right?
I am referring to your statement that people should sell all their pre-81 cents and invest the proceeds into a mutual fund or ETF. There are many people, myself included, who would rather have something physical, like 95% copper cents, than a paper promise issued by Wall Street.
Go for it. I'm not telling 'people' en masse, what to do. I'm explaining to Collecting Nut that an offer of 50% return on common date, pre 1982, Lincoln Memorial copper cents can earn a better return, 50%, than any bank interest. Note the quote from CN and my response to him below.
I do know a business model that this could damage and that would be coin rolling / elongating machine industry. I stay stocked up on pre 83 just for that and a few old coppers stashed just in case an old house fuse blows.
If you use a penny, and there is a problem because of it, your insurance will not pay your claim. Everything should have been replaced to circuit breakers by now anyway.