Copper bullion?

:desk: :desk:


:headbang:


The ASE is Based off of Walkers...

Which many rounds are also based off of....

They stole the design from the Mint...

Mercury Dime 1 ounce round...

Read that and continue thinking that the mint may 'steal it'...

 

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i know the mint used the design first but if this story is true then i dont think its right to make some one stop making something just because the mint wanted to cash in on it

 

There are still people making bullion that uses the same design, as of 2011 (the date I saw on the bullion 1oz, 1/2oz and 1/4oz Silver bullion rounds at the auction at my local coin club a few months ago)...


Also, can you please use capitals and punctuation...

Please?

 

You're digging a hole here. The mint has every right to pull one of its own designs out of retirement, and as legal tender, it cannot be reproduced by a private mint. The private mints had no claim to the design.

 

nope

 

i know what your saying im not even sure why im defending this story when i cant even find a article on it so i dont even think its true any more

 

I save most of my pre-1982 cents in large ziplock bags just in th event that the government would allow the melting of copper coins. Not likely to happen anyti,e soon, but it's not like I'm losing money by holding onto them. At the end of the day, if I decided I don't want to wait for the day where we can melt them down, I can always turn them in at the bank for face value.

 

It's such edited that they won't repeal it already. They did so fast for silver. Give up. It's never going under face value. Just end the danm penny and let people melt it already.

 

Umm... nice attempt at bypassing the chat filter. It's in place to protect YNs and other minors who visit the site, BTW.

Beyond that, the silver melting ban lasted from 1967-1969. That was at least partially because they still had 40% silver coins in circulation, so it would have been simply moronic for the Mint to produce silver coins simply to replace the silver coins that were being melted.

I don't think having a ban on melting pennies/nickels is a bad thing. It costs the government 2-cents to make/distribute a penny and 10-cents to make/distribute a nickel. If they didn't attempt to take a stand to curb destruction of coinage, since the government is still producing nickels and pennies made from copper, there would be an unnecessary cost occurrence to replace the coins each time there was a spike in the price of nickel.

A better solution than getting rid of the penny might be to change the composition of the coins. They could go to a steel or aluminium coinage system.

Before anyone argues that pennies aren't copper anymore, since 1982 (when the switch was made to copper plated zinc), all pennies in circulation have been copper plated. If the law weren't in place to obviously impede the destruction of pennies and nickels, people might get into trouble by removing the copper layer or something.

Lastly, I think, if the government decides to end the penny, they should do so silently through a recall process. Issue less and less of them (similar to Thailand's treatment of the 1-/5-/10-Satang pieces). This way, banks could still use them to balance books annually, and you wouldn't have unnecessary rounding off of interest. Yes, rounding off. There's no incentive for a bank to round up, after all.

 

Attempt? I think I was quite successful if I do say so myself. What does YN stand for? Young Noob? I find the word noob rather immature.

The nickel melting ban makes sense, although I don't like it. The penny one needs to go. The economic value of copper is twice what it's being utilized for in coinage. There are plenty of zincs already. I don't think there would be a coin shortage if they legalized melting them, and if there is, either make more coins or just give up already. Canada just eliminated the penny. Many other countries have too. The nickel has less purchasing power now than the half cent did when the dollar began, and much less than the cent did in 1900. We could get by without the penny just fine. Interest wouldn't need to be rounded, unless you withdraw it every year. They would still keep track of it to the cent. Only in cash transactions would rounding be necessary.

I doubt there's much profit in gleaning the tiny bit of copper off of zinc pennies. It isn't silver. And if need be, a rule can still be in place against that.

 

This thread is cracking me up, young noob

 

A successful attempt. Are you jealous of my great success? I can't see why else you would attempt to discredit it.

How am I supposed to know you meant "young numismatist"? Who in the world outside of this forum has ever even heard that phrase? I think you really did mean young noob and won't admit it because you see how immature you were being.

The situation was very different for silver. Silver is a precious metal, and a mere handful of coins has an appreciable value. Copper only really has value in bulk. That's why copper cents haven't disappeared from circulation yet. Most of the silver was already gone by the time it reached 2x face, as copper has been for years now. You're right in saying that an increase in zinc prices will make zinc pennies worth melting, but it will never be worthwhile to strip the copper of off zinc pennies for scrap. If copper ever increases in price enough to make that worthwhile, then the zinc will also be well above face value. They'll just melt the whole thing.

I consider Gresham's Law a good thing, while you apparently think it's something to be feared and prevented under threat of imprisonment. If a coin is worth 2 cents, why should it continue to be valued at one cent? It's economic idiocy. Copper pennies should be allowed to be melted, since they are more valuable as scrap copper than as coins. If zinc pennies end up being worth more than face value, then they should be melted too. If the government wants to continue making pennies for tradition or whatever other reason, it can make them out of steel. Then their metal value will be almost zero, and the government won't have to worry about people melting them. The nickel should also change to steel (although I guess zinc would be fine too for the nickel).

But I still say it would be better to just stop making pennies, since they have very little value, and aren't really necessary anymore.

 

Your "Great Success" is against the rules.

Therefore, I will discredit it.

Let's 'dissect' this statement.


You are on a forum about numismatics.

People who study numismatics are called numismatists.


The most ironic statement of the day is that last line...

I'm being truthful...

My greatest weakness is I seek out the full truth, even when it would be better hidden.

And, I'll bet, when gold was taken away, the same argument was made for silver.

What?

Did you even read what I had written...

Which was about how Gresham's Law is a natural event, not to be interfered with PERIOD

:desk::desk:

Steel-Plated pennies still cost more than a cent to make and distribute...

Look up North for an example of this (as talked about below)

Where I live, there are no pennies.


Guess what happened in the last six months (at least in my area)?

Almost all of the coppers were withdrawn, as were the steel cents.

Gresham's Law had taken into effect...


I don't have to deal with them anymore (no bills below a fiver either )

 

I see now. I assumed I was still talking to the same person as before. You jumped into the argument I was having with North Korea, so I thought I was still talking to the same person, but in fact it was someone else. My mistake.

Nonetheless...

Doesn't matter still success.

What truth have you uncovered which would have been better left hidden?

DURAIYWPTUY.

What argument? That it was only worth hoarding in large quantities? Obviously that wasn't true, since all kinds of people did hoard silver coins. And obviously it is true for copper, since very few people hoard copper pennies now. Copper pennies have been worth well over face value for many years now, and yet they're still very plentiful in circulation. Silver disappeared quickly after the composition changed, even though it was illegal to melt. Therefore, silver and copper are obviously different. I don't know what's so hard to understand about that. Do you have any argument against this point, or can you just say "I bet they said that about silver too"?

Great, we agree on that! Gresham's Law is a natural event and should not be interfered with. North Korea was in favor of the ban on melting coins, which interferes with Gresham's Law. Since you jumped into the argument in his place, I assumed you agreed with him (or rather, I thought you were him).

:desk::desk:
That doesn't mean a composition change wouldn't be useful. If Gresham's Law isn't interfered with, people will simply melt coins that have a higher melt value than face value. If you change it to worthless steel, that won't happen. The government would lose less money on steel coins than zinc if zinc coins were being melted for scrap, because the steel coins wouldn't be. So while they would still lose money making an unnecessary coin, steel is better than zinc. Get it?

Sounds great! We should do the same thing here (both getting rid of pennies and switching to $1 coins). That's not exactly Gresham's Law though, since it was the government that melted the zinc and steel pennies (as well as the coppers). If the government hadn't acted at all, only the coppers would have been melted, since the others were still worth more as money than as metal.

 

Recognition 1 of the 6...

Now, to see if you can recognize the rest...

To quote (I forgot who [possibly paraphrased]):

I can't say...

I think it is trying to communicate with us

That it wasn't worth hoarding (better to be put in savings accounts in banks)...

Until it was too late... and people couldn't hoard as much as they wanted too..

Nope, just the stupidity you had with your (correct) argument...

Putting in laws to stop Gresham's Law is taking away economic freedoms, something I do NOT agree with

They should lose money on production of steel cents...

They are loosing money to make money!

I'm not sure you are even thinking about my posts...

Which state completely logical reasons for no penny, as you still lose money when making steel pennies..

Read that back...

Within the last six months, Before the Government Acted at all, that happened.

So it is Gresham's Law....

 

Doesn't matter had success.

What a surprise.

It stands for "don't use random acronyms if you want people to understand you". I thought that was obvious

Your point?

You haven't been able to give any examples of my stupidity. We've seen plenty of yours, though.

Good.

Are you retarded? I've said many times that they should stop making pennies, because they aren't necessary and cost taxpayers money. But if they insist on continuing to make them for whatever reason, they should use a cheaper material that people won't melt or hoard so that they lose less money. What is hard to understand about that?

Where do you live? I was assuming Canada. I know that isn't the case in Canada.

 

All I can say is it involved Viruses, School, and students...

That may be too much, but w/e

You just made that one up...

Just a single google hit (this page!)

No.

I am a genius who has had teachers approach me on taking university courses.


Edit: I just realized I'm interacting with a forum troll.

You have no idea how hurtful the word 'retarded' is, do you?

Stop, and think before you post.

You've been wording it so it sounds like you want them to make steel cents, not stop making them..

In that case, end of this part of the story..

Really..

Do you live in Canada, know all about every area in every city in Canada?

Because I KNOW that I went from 50%-75% copper to 0%-0.5% copper within a few weeks...

Steel was better, but down to 10%...

 

I don't care which of your high school homies had AIDS. What have you uncovered in this thread?

:jumping-jack::thumb: You're really smart to figure that out all by your- oh, wait, even that isn't true since you used google. My point still stands-DURAIYWPTUY.

:too-funny: Yep, you're a genius, xGAJx is an expert coin dealer, and gold will still be as valuable as it is now a thousand years from now. Good one:thumb:

Make up your mind, rere. Am I an intentionally insensitive troll, or do I just not know better? You're contradicting yourself.

Again, bullʃit. I made it very clear several times that they should stop making pennies.

Progress!

Nope. But I know the what you said is false.

Oh really? And what was the other 89.5-90%? Zinc? I'm gonna have to call more bullʃit on that. Srsly bro, you must be:too-cool-for: if you expect anyone to believe that.

 

Trying to get you to see the truth...

And by Viruses, come to the 21st century...

I mean computer viruses...

There are many obscure acronyms

TEOTWAWAKI


[/quote]Yep, you're a genius, xGAJx is an expert coin dealer, and gold will still be as valuable as it is now a thousand years from now.[/quote]

Maybe look at my other posts or ask ancient coin collectors if I am a genius..

A mix of both...

Btw, rere is spelt here.

I'm reporting actual data, and you are just :too-cool-for: something


This is my last reply to a troll...