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deleted
2 Posts |
 Posted - 10/03/2009 : 22:51:02
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I've read on this forum that the penny might be going away soon and even the bank teller said something about it today. So what is the status on this and is there any solid information?
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Megaman
Penny Pincher Member
USA
173 Posts |
Posted - 10/03/2009 : 23:02:03
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| no, i don't think the penny is going away, they're actually coming up with new designs for the 2010 penny as i've heard |
Must hoard more...... |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 10/03/2009 : 23:02:44
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| I also have not heard it is going away any time soon |
Inquiring minds want to know |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 10/04/2009 : 07:13:03
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| I also don't think that the penny is going away for a while. To bad for us hoping that it would to make our hoards worth more. |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 10/04/2009 : 07:57:10
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The penny will be around in 2010: You must be logged in to see this link.
After that...no one knows but I don't think it will last very long if our dollar keeps going down in purchasing value. |
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 10/04/2009 : 08:38:33
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quote:
Originally posted by Copper Catcher
The penny will be around in 2010: You must be logged in to see this link.
After that...no one knows but I don't think it will last very long if our dollar keeps going down in purchasing value.
Thanks for the link. Surprisingly, I was able to get there on my computer this morning.
I like the design on the left. I sure hope they choose that one. When I saw it, I was immediately reminded of the wheat cent and the LMC.
JMHO--I think that if the new designs this year had not produced such a fuss and such a frenzy of hoarding, that the penny might not have lasted for 2010.
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barrytrot
Administrator
USA
721 Posts |
Posted - 10/04/2009 : 09:09:48
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If the country is smart (they aren't) they should do 4 designs again this year. I know without the Lincoln 100 years thing it doesn't make as much sense but it should prove popular again if they keep production down and do release events. That way they can pump some income out of the cents to offset the negative production income.
Then do the same in 2011, etc. until they decide that the cent has served it's purpose and get rid of it.
Additionally all coins should be "steel" or something else as soon as possible to reduce costs further. |
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 10/04/2009 : 19:23:53
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quote:
Originally posted by BruceC
I've read on this forum that the penny might be going away soon and even the bank teller said something about it today. So what is the status on this and is there any solid information?
What did your bank say about the penny going away?
There is going to for sure be a penny in 2010. I think the only reason that there is is because legislation passed back in 2003 allowed for the new design in 09 and 10. I personally think they will either discontinue or change the composition in 2011. |
Copper Penny Investing
www.portlandmint.com |
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 10/04/2009 : 20:25:16
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The Penny won't go away any time soon.
It probably will have it's composition switched to a steel slug and have the minting farmed out to Canada, Eh?
But, the U$ofA will have a "Penny" for several years to come.
And, the Mint will attempt to sell the new designs for 10X what the market will allow (to try and recoup the loss incurred over the last 5, or more, years of minting the current Nickle and Cent).
Git your Cu now while the Gittin's good!!!! |
There's profit if you melt things!!
8{> |
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Last year for the penny?
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