What happened with the Canadian Cents after 2012?

baseball21 · Aug 27, 2021

Jim Dale said: ↑

If I buy something for a dollar, stores will have to add 7 cents to the price, which will now be $1.07. Will the public expect to pay up $1.10, there for losing 3 cents on every dollar purchased? Will the taxing agency, stores, or the public expected to lose the 3 cents? I know it's redundant, After the cent/penny is taken off the market, will the nickel, and then the dime be also taken off the market
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Exactly, and you can see that in many countries but you won't change anyone's mind on a forum. Those that want it gone want it gone for whatever reason

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Cheech9712 · Aug 30, 2021

Good Cents said: ↑

Another poster started a thread about the "Death Watch" of the US Cent, asking:

"The Canadian cent ended in 2012. How long before the U.S. cent goes Bye-Bye?
I'm kind of rooting for the cent to end because I think it will give the hobby a boost."

Here's the thread:
https://www.cointalk.com/threads/death-watch.385368/

As I posted there, I don't think the US Cent is going anywhere because the US Mint is self-supporting with all the collectors items they sell and the cost of materials to produce the US Cent have not gone up.

MY Question Is: What happened with the Canadian Cents after 2012? Was it hoarded? Are the Canadian Cents worth more now? Do they sell for a lot of $ on Canadian eBay? Or are they only worth half a Canadian Cent now?
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I know for a fact that trucks brought them to the old American Brass in Buffalo. I have a few of the canceled ones

Cheech9712 · Aug 30, 2021

norantyki said: ↑

Having been working in the industry in Montreal in 2012, I can tell you that yes, many people started hoarding them. There was also a successful campaign in the subsequent years by the Banks / Govt to bring in / get people to turn in the extant population of Pennies.

Your question as to value is very broad, but broadly speaking, the scarce / valuable dates identified before 2012 continue to be the better dates, while common dates are made readily available by the ones already in collections / hoarded in the leadup to the elimination of the Penny. No, they will do not better on Canadian Ebay (many Canadian users are on .com, and the two sites have very little enforced boundary), and most Pennies will be worth very little.
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Yeah but

Cheech9712 · Aug 30, 2021

Conder101 said: ↑

That's what I expected, and what I predict will happen once the US cent ends. Within a year they will effectively be gone form circulation. Doens matter that we make 6 + billion of them a year, within 6 months there will be cent shortages within 9 months everyone will be rounding and within a year they will be gone form circulation. During the shortage period merchants will be clamoring for cent s from their customers and banks, but once they all start rounding they will STOP asking for cents from customers or banks. Once that happens any cents that do get turned in at the banks will at first just sit there because the businesses are no longer asking for them (They don't need them, they are rounding) and eventually will be shipped back to the Federal Reserve so as to become productive assets on the banks books again and not just taking up space in the vault. Since no banks will be asking for them it will end up as a one way trip from change jars back to the Fed. What the Fed will do with them I have no idea. Send them to the Mint in payment for new coins? If so what does the Mint do with them?
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Send them to the Brass

Cheech9712 · Aug 30, 2021

Cent haters

Cheech9712 · Aug 30, 2021

baseball21 said: ↑

Exactly, and you can see that in many countries but you won't change anyone's mind on a forum. Those that want it gone want it gone for whatever reason
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I don’t think I’ve changed anyone’s mind

Cheech9712 · Aug 30, 2021

Wizank said: ↑

Hoarding, or collecting coins IN CASE they become valuable has never worked out for me. I have tried with Bi-Centennial quarters and halfs, and with Maryland State quarters, now with Tuskegee Airmen and Washington Crossing quarters - all still worth face value. I will not live long enough for pennies to increase in value, and if they do, the market will be flooded by other hoarders in far greater numbers than I can possibly save.
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You just broke my heart. We’re small fry. I get it. But just think no loss no gain. Pick another coin.

Wizank · Aug 30, 2021

Cheech9712 said: ↑

You just broke my heart. We’re small fry. I get it. But just think no loss no gain. Pick another coin.
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It’s not that, I just seem to pick the wrong ones to save. My crystal ball doesn’t work.

Conder101 · Aug 31, 2021

Jim Dale said: ↑

We have a 7% sales tax now. If I buy something for a dollar, stores will have to add 7 cents to the price, which will now be $1.07. Will the public expect to pay up $1.10, there for losing 3 cents on every dollar purchased?
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Nope it will round down to $1.05 cents. 50% of the time it will round up 1 or 2 cents, 50% of the time it will round down 1 or 2 cents and in the long run it balances out to zero.

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What happened with the Canadian Cents after 2012?

baseball21 Well-Known Member

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What happened with the Canadian Cents after 2012?

baseball21 Well-Known Member

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Cheech9712 Every thing is a guess

Cheech9712 Every thing is a guess

Cheech9712 Every thing is a guess

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Cheech9712 Every thing is a guess

Cheech9712 Every thing is a guess

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