http://www.philly.com/inquirer/magazine/37132404.html Interesting article today in the Inquirer. Thoughts, Comments? Greg
It's old news and isn't about to change as long as the zinc and copper cartels have lobbiests and the Congress remains as feckless as it has been over the past years. Maybe the new administration will have some affect but somehow I doubt it.
I always suspected that someome actually reads that thing. My suggestion is to buy a coin book and just sit back and read something realistic. :smile
Haha yes. I just posted it to read the views of the collectors here, not to stir any controversy! Greg
What cartel nonsense are you talking about the metal market? If there are any, it's almost negliable. Please kindly provide me with names. Thanks in advance.
Depraved indifferance.....are we so lackadaisical that we just sweep these things up and deposit them in the garbage? (as per op's article in the Enquirer). Says something about us all. Ask your grandparents and great grandparents (if any still are among us) if they would ever perform such a sacrilege. Those people saw the great depression and money was scarce indeed. Granted a Penney (cent) bought more back then but the general attitude is the same. Those folks would never throw away money. We folks today seem more inclined to......just a thought
Two sides to every story...... I think it would be a shame to see the cent retired. If it did happen, would the value of existing pennies increase? http://www.pennies.org/index.php?option=com_content&task=view&id=12&Itemid=26 http://www.retirethepenny.org/
Waste of time:[FONT=Helvetica, Arial, sans-serif] Most cash transactions involve the exchange of pennies, leading to an increase in the time for the transaction to take place. The National Association of Convenience Stores and Walgreen's drug store chain estimated that handling pennies adds 2 to 2.5 seconds to each cash transaction (remember that we are including the occasional customer who spends 30 seconds looking for the penny in his pocket). [/FONT] [FONT=Helvetica, Arial, sans-serif][/FONT] [FONT=Helvetica, Arial, sans-serif]Oh crap, the industrial engineering guys are at it again. Might save two cents and in the course of a year that could really add up. Please....give me a break!! [/FONT]
http://www.manufacturing.net/Saving-The-Penny.aspx?menuid=280 http://money.cnn.com/2002/04/11/pf/q_pennies/
I routinely give cents to make the right change in a purchase. Doesn't add emough time to the transaction to make any difference. For there to be an increase in productivity in eliminating the time to "find a penny" you would have to assume that there was a continuous making the sale, with no down time in between customers. This is just not the case.
I don't think Congress wants to get rid of the cent coin because it would just be another admission of the inflation that they continue to deny in the government statistics. So in a sense they are acting consistently, if deceptively. Also, gasoline is still priced in mils and rounded to the nearest cent. How would that work?
an interesting article. when prices of copper were high (LAST SPRING) i calculated the copper content of a penny as greater than 3 cents.ARE WE ALLOWED TO SEND THEM TO A SMELTER LEAGALLY ??
No. Congress passed legislation that bans melting cents and nickels. You also cannot export them to be melted.
