Message:

<p>[QUOTE=&quot;Conder101, post: 3165062, member: 66&quot;]The Mint was not running out of money, the depressed economy was not generating a demand for new coinage.&nbsp; The people were dipping into the coins they already had on hand to try to make ends meet.&nbsp; That returned a lot of coins to circulation and new coins were not needed.&nbsp; The Depression didn&#039;t peak for another two years and that was why the 1932 and 33 production was way down as well.&nbsp; The same thing happened in 2009.&nbsp; The crash of 2008 meant a lot of people couldn&#039;t make ends meet so they took their coin stashes back to the bank.&nbsp; The Fed was flooded with coins and had no reason to order more from the mint.&nbsp; Nickel and dime production ceased completely, cent and quarter production were greatly curtailed.</p><p><br /></p><p>Even though the mint makes billions of new cents every year, and there are hundreds of billions of them supposedly in circulation, if the mint were to stop production we would see cent shortages within a couple months, premiums being offered for cents within maybe four months, substitutes and the beginning of rounding before six months, widespread rounding before eight months and the cent would effectively cease to be a circulation coin before the end of the first year.&nbsp; And once it was gone it would not come back even if the mint began production again.&nbsp; Once the rounding was well established and commonplace there would be no reason for businesses to ask for cents at the banks anymore.&nbsp; They would no longer be needed for making change.&nbsp; After months of not asking for them, because the banks never had them, why would they start asking for them again?</p><p><br /></p><p>We don&#039;t make 8 billion new cents each year because the economy has expanded so much it needs 8 billion more.&nbsp; We make then to replace the 8 billion we made last year that are now in jars around the nation and not circulating.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in