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When will the penny be retired?
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<p>[QUOTE="calcol, post: 2850835, member: 77639"]The penny will probably end when it contains more than a penny's worth of zinc. If you can get $110 for the zinc in $100 face value of pennies, they'll be turned into zinc ingots pretty quickly. Get your $110 dollars from the scrap dealer. Use $100 to get more pennies. Repeat. Similar thing happened with silver in the 60's.</p><p><br /></p><p>There is no metal that is significantly cheaper than zinc that is suitable for coinage. Steel is cheaper but presents problems in terms of die wear, rusting and magnetism. We might see a return of steelies, but I doubt it. Lead is cheaper but too soft and is toxic. All other metals cost about the same or more.</p><p><br /></p><p>Plastic and natural fiber (wood, paper, cotton, etc.) are probably unacceptable.</p><p><br /></p><p>The penny could be shrunk in size, but it's already pretty small.</p><p><br /></p><p>Just a matter of time until inflation of metal prices kills it.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 2850835, member: 77639"]The penny will probably end when it contains more than a penny's worth of zinc. If you can get $110 for the zinc in $100 face value of pennies, they'll be turned into zinc ingots pretty quickly. Get your $110 dollars from the scrap dealer. Use $100 to get more pennies. Repeat. Similar thing happened with silver in the 60's. There is no metal that is significantly cheaper than zinc that is suitable for coinage. Steel is cheaper but presents problems in terms of die wear, rusting and magnetism. We might see a return of steelies, but I doubt it. Lead is cheaper but too soft and is toxic. All other metals cost about the same or more. Plastic and natural fiber (wood, paper, cotton, etc.) are probably unacceptable. The penny could be shrunk in size, but it's already pretty small. Just a matter of time until inflation of metal prices kills it. Cal[/QUOTE]
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When will the penny be retired?
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