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Copper Catcher
Moderator
USA
594 Posts |
 Posted - 08/13/2008 : 18:54:19
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It was reported in the July 28th Coin World that The U.S. Mint contracts with its lone supplier for the finished copper plated zinc cent expires on September 30th and there were no indications whether another contract is being considered.
Mint officials would not disclose if another contract was in the works or if another supplier was being considered. Also the Mint would not discuss if other compositions for the cent are being studies. A helpful bunch wouldn't you say?
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DISCLAIMER: The opinions expressed in this message are those of the author and are considered for entertainment purposes only. It is not the intent of this author to provide legal, investment or medical advice and nothing posted here should be considered to be so. You are advised to seek independent counsel to act upon any laws discussed in this communication. |
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Ardent Listener
Administrator
USA
2625 Posts |
Posted - 08/13/2008 : 19:01:12
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| Maybe the Mint will just stop minting the penny and allow a shortage to develop so as to help push a penny metal change through Congress. ???????????? |
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legacypac
Administrator
Canada
1653 Posts |
Posted - 08/13/2008 : 19:01:12
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| I'll add that there is always the possibility of switching to the Canadian Supplier (RCM or?). Due to the high number of US in my Canadian pennies, I tried and have found my Ryedale can very accurately seperate US zinc out of Canadian zinc. Does an even better job between US and Cdn zinc then between copper and zinc. If they switch suppliers or composition, that will really add a burden to our sorting job, especially if you sort zinc accept. |
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PennehChaos.
Penny Pincher Member
USA
194 Posts |
Posted - 08/15/2008 : 15:35:40
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| i don't think they're going to stop minting cents at this point... i believe they're already committed to minting four different designs on the existing composition for next year. |
Nothing of value is an investment unless you possess it. If all you've got are paper, pixels, or promises, you're gambling. |
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Cody8404
Penny Collector Member
USA
340 Posts |
Posted - 08/15/2008 : 15:45:05
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| Contracts mean very little any more. If the contract expires the supplier will just raise the price. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Ardent Listener
Administrator
USA
2625 Posts |
Posted - 08/15/2008 : 18:30:51
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quote:
Originally posted by Cody8404
Contracts mean very little any more. If the contract expires the supplier will just raise the price.
Raise the price? In this current market the Mint may be holding out for a lower price. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for entertainment purpose only. It is not the intent of realcent.forumco.com to provide investment, medical, legal or tax advice and nothing posted here should be considered to be so. All rights reserved. |
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legacypac
Administrator
Canada
1653 Posts |
Posted - 08/16/2008 : 11:11:47
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quote:
Originally posted by Ardent Listener
quote:
Originally posted by Cody8404
Contracts mean very little any more. If the contract expires the supplier will just raise the price.
Raise the price? In this current market the Mint may be holding out for a lower price.
The Mint is a always saying they loose money even on zinc cents, so it is plausable they are trying to drive the price down. Penny production is going to SOAR next year as they mint a gazillion 100 Yr Lincoln Anniversery pennies |
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Jarden Zinc Products Contract With Mint
