Worst Article Ever...

Ever heard the word "buck" referring to a US dollar? It's called colloquial language. In the US it usually refers to a one cent coin, and in that sense the plural is "pennies". The British "pence" is not what "penny" is derived from but simply the plural of the unit name in the UK: 1 penny - 2 (or more) pence.

Christian

 

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Their idiots, they probably carry the sock full of pennies around in their pants. If there that concern about safety use a roll of nickels that way you dont damage them and can look through them later if your not arrested

 

Maby it was a mouth full of quarters

 

Pretty funny.

 

The current cent does cost about 1.5 cents to make, but that includes labor, etc. Its value is still less than a cent for its metal content.
Given enough time, and demand, the old copper cents will eventually have more than face value, but right now, their metal value barely exceeds their face value. Not to mention, it takes a LOT of cents to add up to real money.
If they ever stop making the cent due to costs, lots and lots of people will flood the market with hoarded copper cents, value will quickly decrease to below face value, at least until the vast supplies are expended.
If you want to save copper, save nickels. They are 75% copper, despite their name and appearance. and you don't have to squint at the date, or weigh the 1982 ones.
These are small denomination coins, and available easily in bulk, for face value. You can put them away, and let your kids or grand kids profit off them, eventually. Look at the market for common date Wheaties, because they are almost unavailable in circulation.
One day, the current coins of today will be the collectible coins of tomorrow.

 

I'm gonna kill that dude that told me that!

No wonder I still blew a .20! Dang.

 

Now for the REAL uses for coins. Note Coin World's disavowal of any claims made...

http://www.coinworld.com/voices/ger...campaign=cw_editorial_world-coins&utm_content

 

I am not sure where you are going in this dude.

 

And you never will - have fun wondering though!!

 

We may as well lighten up, enjoy a few laughs and not get bent out of shape about "mainstream" media outlets butchering stories about our hobby and coins in general.

What have been the stories we've critiqued lately: a couple of idiot articles about finding loose change worth scads of money and, of course, the graded nail.

 

Think I have an idea but I will keep it to myself.

 

OH - I almost forgot about the graded nail - how slutty is a TPG to even have the audacity to grade that?

 

Heritage Auctions used it to get free publicity. Two parties are guilty in that fiasco.

 

Actually 38 posts started.

 

Actually it just says Coin World doesn't bother to check the claims. Copper has almost twice the heat conductivity of aluminum, but aluminum has the highest specific heat of any metal, so copper coated Al would be perfect.

 

Anyone notice the jar is full of 5 euro cent coins. BTW, I didn't know AOL still existed.

 

AOL is owned by Verizon, and now has Yahoo on board too. Two dinosaurs, it seems. Those 5 cent coins, well, those are stock photos that simply show "copper" coins in a jar. Sure, somebody could have taken a new photo, with different coins, but why do that if the images merely illustrate the text? Keep in mind we're talking about free content here ...

Christian

 

Yes it does cost 1.5 cents to manufacture a cent BUT on the other hand it does not really cost that much.

The 1.5 cent unit cost more than likely includes allocated and overhead costs which would still be incurred if cent production was eliminated. Therefore these costs would therefore have to be allocated to the per unit production cost of other coinage denominations.

 

If your intent is to say that my posts have no merit, then I will find this humorous. Some folks are taking a funny article way too seriously.

 

So, in 2013 we lost $35 Million over face value on Cent production. In 2014, $40.7 Million. In 2015, $46.8 Million. Over that 3 years, it cost the Mint $122.5 Million in throwaway money to produce Cents (based on 1.5 Cents each; in 2014 that was 1.66 Cents in reality so the actual loss was over $50 Million).

Over the same period, we lost even more than that on Nickel production; Nickels cost over 8 Cents each to produce. So, a quarter of a billion dollars lost to produce two issues for three years. Those are numbers large enough to pay attention to.

And as you mention, justafarmer, some of those costs would affect the cost of other issues if we eliminate that coinage. Not all of it, as labor, utility use and the amortization of no longer necessary equipment would be reduced, and those costs would be easily-absorbed by the much more "profitable" other issues struck (a Quarter costs only a little more than a Nickel to strike, for instance, under 9 cents).