Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Rising zinc price to doom the penny?
>
Reply to Thread
Message:
<p>[QUOTE="calcol, post: 2484431, member: 77639"]Once the value of the metal content exceeds face value, it's game over. They'd be melted as soon as they came out the door of the mint. There'd be no way to keep up or pay for it regardless of how much "profit" was made from other activities. Even minting trillions wouldn't put cents into circulation. Every time a billion came out the door, they'd be melted for profit, and the zinc sold back to the mint to make the next billion. If melt value exceeded face by 10%, then for every cycle of a billion cents, the mint would pay $11 million for zinc that they could "sell" for only $10 million. And that's just the metal, not the even more expensive manufacturing costs. It would be the ultimate, no-limit government handout! All you would need to get it would be an iron pot and a hot fire.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 2484431, member: 77639"]Once the value of the metal content exceeds face value, it's game over. They'd be melted as soon as they came out the door of the mint. There'd be no way to keep up or pay for it regardless of how much "profit" was made from other activities. Even minting trillions wouldn't put cents into circulation. Every time a billion came out the door, they'd be melted for profit, and the zinc sold back to the mint to make the next billion. If melt value exceeded face by 10%, then for every cycle of a billion cents, the mint would pay $11 million for zinc that they could "sell" for only $10 million. And that's just the metal, not the even more expensive manufacturing costs. It would be the ultimate, no-limit government handout! All you would need to get it would be an iron pot and a hot fire. Cal[/QUOTE]
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
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Rising zinc price to doom the penny?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...