No more pennies???

Nice!

 

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lots of copper for your coin books!

 

The inevitable demise of the cent coin.

Liberty Cap (1793-1796) 29mm 13.48g-10.89g Copper
Draped Bust (1796-1807) 29mm 10.89g Copper; reduction in weight
Classic Head (1808-1814) 29mm 10.89g Copper
Matron Head (1816-1839) 27.5mm-29mm 10.89g Copper; reduction in size beginning
Braided Hair (1839-1857) 27.5 mm 10.89 Copper; reduced size; end of half cent
Flying Eagle (1856-1858) 19mm 4.67g .880 Copper, .120 Nickel; reductions in all categories
Indian Head (1859-1864) 19mm 4.67g .880 Copper, .120 Nickel
Indian Head (1864-1909) 19mm 3.11g .950 Copper, .050 Tin and Zinc; reduction in weight, changed composition
Lincoln (1909-1962) 19mm 3.11g .950 Copper, .050 Tin and Zinc
Lincoln (1962-1982) 19mm 3.11g .950 Copper, .050 Zinc; composition change
Lincoln (1982-Present) 19mm 2.5g .975 Zinc, .025 Copper; reduction in weight, composition change

The cent coin is almost gone. A reduction in size would be the last step.

 

As could be expected. This will be a boon to retailers.

 

Which one is which? Lol.

 

Actually if you want pennies get a metal detector. I’ve seen areas where the ground was carpeted (in zinc).

Parents! Get your kids metal detectors and let them dig pennies ( leave the others for me) and you can pay cash for their Harvard education.

 

I agree!
My detecting finds -

 

Yep! I mainly ignore penny signals unless I’m at a site where wheats or injuns might live.

And then I clean them!

 

Congress can't pass a law requiring sales tax to round down. Sales tax is a State Tax not a Federal tax.

 

Well, Congress is sure going to make it so that sales taxes are collected off the internet. I know that's different, but Louisiana is not aggressive about collecting sales taxes from internet sales, yet Amazon collects them while ebay does not.

 

Although the Commerce Clause of the Constitution grants Congress the power to regulate interstate commerce - establishing rules concerning how a State calculates breakage on a State Tax - in my opinion would be quite an over-reach. As this would be a rule that affects both interstate and intrastate commerce.
Concerning sales tax collected on interstate commerce conducted through the internet - Congress did not address the issue - the Supreme Court did in Wayfair v South Dakota.

 

I guess we will have to wait and see if we still have the US Penny to use.

 

vanilla crown royal

 

https://coinweek.com/world-coins/ba...-cent-coin-but-will-the-united-states-follow/

 

Bad Idea. Rounding to the nearest.05 means half the time it will round up and half the time it will round down and in the long run it will even out to no change in the amount of tax collected. If you mandate always rounding down then the is a tax collection shortage on almost EVERY transaction. In the long run it results in roughly a 5% shortage in collected taxes. But the merchant has to remit the full amount to the state. To offset his loss, if such a law went into effect, you would immediately see a 5% increase in the prices of everything across the board.

The US mint doesn't make 1 oz copper rounds as far as I know. Private mints do and then charge high multiples of the spot price for them.

As mentioned Congress didn't, and the Supreme Court decision didn't get the Federal government into collecting sales taxes, it said that the individual states could collect sales tax from out of state sellers if they chose to do so.

 

I like hoarding my wheats. Copper not so much. If there were only value in what the corporate world sells us then perhaps the hoarding would me minimal but I digress.

 

I didn't know the US made a penny until I saw the Mint advertising with the 2017-W cents.

 

Ahh! Alas I get a look at your detector! Man, no wonder you do so well. That machine does all the work for you. No challenge. You need a two hundred dollar detector like mine. Does that thing dig them for you too? I'm just jealous man. Don't mind me.

 

So in a sense, this would make sense if you could make cents, but if you sent these cents to pay taxes, the scent of that would require incense to mask it. But this may not be the decent thing to do. Maybe we should ascent to a higher level & just use plastic? Does that make sense or are you incensed by this drivel?

 

Read the Bahamian article. Why can't the U.S. Mint stop producing circulating pennies and just produce copper pennies in UNC and Proof varieties for collectors? I would think that the U.S. Mint would at least break even since they would be able to charge a premium for them. Oh yes, please get rid of the zincolns, and go back to the copper pennies for collectors.