Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
What happened with the Canadian Cents after 2012?
>
Reply to Thread
Message:
<p>[QUOTE="Conder101, post: 7851213, member: 66"]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?[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 7851213, member: 66"]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?[/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
>
Coin Chat
>
What happened with the Canadian Cents after 2012?
>
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...