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starwarsgeek171
Penny Hoarding Member
USA
602 Posts |
 Posted - 01/14/2008 : 07:35:29
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I recently read the article in Coinage Magazine regarding the fact that there will be four different designs on the backs of the 2009 pennies (100th anniversary) relating to different periods of Abe's life. Does anyone know (or have a link to) what these designs will look like. Also, could these coins represent the end of Lincoln cents forever  !?
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Edited by - starwarsgeek171 on 01/14/2008 07:36:53 |
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Cerulean
Penny Hoarding Member
USA
652 Posts |
 Posted - 01/14/2008 : 13:16:24
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Here's a NYT article with sketches of proposed reverse designs:
http://www.nytimes.com/2007/10/30/washington/30coin.html?_r=1&oref=slogin
This will likely not spell the demise of the cent. The penny is the canary in the coal mine of inflation, the first thing to die if the fumes of inflation become to strong. Eliminating the penny would be an outright admission that the US inflation rate is out of control, kneecapping an already weak US dollar in international trading. Seeing as how the Gov't is currently tweaking the statistics in order to hide inflation, the last thing they will do is take steps to admit it through *any* currency reforms.
If anything will happen, the penny may change to copper-plated steel, just like Canadian, UK, and European pennies already have.
What does this mean for hoarding? I predict that as long as the government maintains its stance of active denial, it will not enact a composition change or discontinue cent, nickel, or dollar bill. Instead, it will keep minting pennies and nickels at a loss, relying on the melt ban and other legislation to punish those who take advantage of metal content against their wishes. I expect that the penny and nickel will not change, and the melt ban will stay in effect (or strengthen), until the world knows the US dollar is worthless and Uncle Sam cannot hide inflation anymore. When that happens, all bets are off. |
RUNNING TOTAL
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16857 zincs (1982-2008) 75.4%
5346 coppers (1959-1982) 23.9%
110 wheats (1920-1958)
50 Canadian (1959-2007)
1 dime (2004)
1 foreign (2005)
Sorting Map: http://www.frappr.com/?a=constellation_map&mapid=68719599394
2008 First Finds: http://realcent.forumco.com/topic~TOPIC_ID~1716.asp
Wanna take money away from the Fed? Spend dollar coins!
Listening is the linchpin of democracy. |
Edited by - Cerulean on 01/14/2008 13:24:27 |
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Cody8404
Penny Collector Member
USA
340 Posts |
Posted - 02/07/2008 : 04:52:47
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| Cerulean, I think you are right on the mark. |
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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just carl
Penny Collector Member
USA
397 Posts |
Posted - 02/07/2008 : 07:49:08
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Possible. However, all our coinage will eventually have to change into one monitary system for the entire world. Eventually all will be abandoned for just a plastic, computerized monitary system.
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Carl |
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2009 Penny Designs?
