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.
It's not stupidity, it is intentional negligence. Insurance will always find a reason not to pay a claim no matter how many years and thousands of dollars you have paid in. It is the most crooked business in the world, more crooked than organized crime. Meanwhile I was at the self serve today and I was supposed to get back .04 cents and it gave me a nickel. STICKING IT TO THE MAN!
We've had several car insurance claims and at least one home insurance claim for a burglary. Not a moment's trouble with any of them...?
I wonder if anyone will figure out a way to make a dime elongating machine. Can't be that much harder than doing it to a penny, right? Unless I'm missing something. You can't legally make your own pennies, but you can make blank pieces of copper the size and shape of a penny... people trying to sell elongated pennies and the machines that make them surely could just get someone to do that. Maybe even the same companies that made penny blanks for the Mint... they could surely use the business now.
Side note: I've always loved elongated coins where you can still identify it on the non-printed side.
Here are 2 nickels I dug up. One looks elongated. The other just hammered flat. In hand you can see the details on both sides. New camera was supposed to be here today and I don't have it.