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Another "Get Rid of the Lincoln Cent" Thread
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<p>[QUOTE="whopper64, post: 7602475, member: 101364"]So a reasonable guess for possible coin shortages - Basic "hoarding" principles. The "Law of Reason" never applies when a sizeable number of people think there is a shortage, perceived or otherwise. Look at the past year panic buying and hoarding of toilet paper, and just recently a perceived shortage of gas that created hoarding and long lines in the East and Southeast. Getting back to coins, even though billions of pennies (cents) have been minted, many are being "hoarded" by collectors and non-collectors simply because of the "hoarding" principle at work. Simple stories or rumors that the U.S. Mint will stop producing pennies (cents) leads to keeping them "just in case". You-tube (boob-tube) exaggerated claims about the value of certain pennies (cents) continually create frenzies of "hoarding" and countless claims on CT by amateurs who think they are rich when they think they've found the holy grail in the form of a worthless penny (cent). And then there are the people who are saving pennies (cents) simply for a "rainy day" belief.</p><p><br /></p><p>As I've previously stated numerous times, if the U.S. Mint is capable of just one reasonable thought, the penny (cent) would be minted only for collector purposes (not for circulation) in the form of enhanced uncirculated and proof varieties with a small premium to pay for the process. IMHO there is too much history and tradition to completely eliminate the Lincoln cent. One more thing, the composition should revert to the original 1909 mix, zinc interests be danged.[/QUOTE]</p><p><br /></p>
[QUOTE="whopper64, post: 7602475, member: 101364"]So a reasonable guess for possible coin shortages - Basic "hoarding" principles. The "Law of Reason" never applies when a sizeable number of people think there is a shortage, perceived or otherwise. Look at the past year panic buying and hoarding of toilet paper, and just recently a perceived shortage of gas that created hoarding and long lines in the East and Southeast. Getting back to coins, even though billions of pennies (cents) have been minted, many are being "hoarded" by collectors and non-collectors simply because of the "hoarding" principle at work. Simple stories or rumors that the U.S. Mint will stop producing pennies (cents) leads to keeping them "just in case". You-tube (boob-tube) exaggerated claims about the value of certain pennies (cents) continually create frenzies of "hoarding" and countless claims on CT by amateurs who think they are rich when they think they've found the holy grail in the form of a worthless penny (cent). And then there are the people who are saving pennies (cents) simply for a "rainy day" belief. As I've previously stated numerous times, if the U.S. Mint is capable of just one reasonable thought, the penny (cent) would be minted only for collector purposes (not for circulation) in the form of enhanced uncirculated and proof varieties with a small premium to pay for the process. IMHO there is too much history and tradition to completely eliminate the Lincoln cent. One more thing, the composition should revert to the original 1909 mix, zinc interests be danged.[/QUOTE]
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Another "Get Rid of the Lincoln Cent" Thread
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