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crispydollars
New Member
USA
7 Posts |
 Posted - 02/03/2010 : 23:53:02
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I can't imagine coins are used much these days. Most people use plastic or paper and with the value of the dollar being so low, coins are pretty useless by themselves, perhaps the quarter should be the lowest denomination. Do you know that 100 years ago, you could buy with a penny what you can buy with a quarter today? Having anything below a quarter in circulation today doesn't make much sense and the mint actually loses money making pennies and nickels, perhaps dimes in the near future.
The mint continues to waste money producing ugly, intrinsically worthless coins that most people don't even use, such as the Presidential dollar coins. Didn't they learn from all the failed dollar coins and even half dollars? Why would anyone want to carry around heavy coins when they could carry paper or plastic?
I wish we could submit our searched, clad coins for melting so other coin roll hunters don't waste their time going through the same coins. We could capture all the silver left in circulation, perhaps in a few short years. I would really get into searching if it weren't for this problem, I feel like I completely wasted my time everytime I get skunked. At least if I could submit my searched coins for destruction, I would feel as if I actually accomplished something.
Why are they storing all these boxes and boxes of half dollars for, they haven't been used in regular circulation in 40(?) years. All they are good for is mining for silver.
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simplicitycounts
Penny Hoarding Member
USA
535 Posts |
Posted - 02/03/2010 : 23:57:45
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| I want the penny to last forever because of taxes. Seriously, if a quarter were the lowest denomination, taxes would be 25 cents on the dollar everytime. That would be great! Perhaps someday they won't need to make the physical coins anymore but the value of a penny will still need to be there for taxes and percentages. |
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Nickelmeister
Penny Hoarding Member
Canada
588 Posts |
Posted - 02/04/2010 : 00:01:31
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quote:
Originally posted by simplicitycounts
I want the penny to last forever because of taxes. Seriously, if a quarter were the lowest denomination, taxes would be 25 cents on the dollar everytime. That would be great! Perhaps someday they won't need to make the physical coins anymore but the value of a penny will still need to be there for taxes and percentages.
By that rationale, the US should have minted 1/25 cent coins 100 years ago.
Your point is also moot if the future is completely cashless. |
www.WinnipegGoldBuyer.com
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<$100 USD worth - spot +25%, plus actual shipping
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/04/2010 : 00:22:40
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Well they did mint half cents 153 years ago. Several states also used to issue Tax Tokens for paying sales taxes that were fractions of a cent.
The answer to all the questions is "seignorage." This is why they like to mint larger demonination coins that noone uses. It is also why they can't melt down all the quarters nobody wants. If they melted the quarters down I think they have to recognize negative seignorage on the books. As long as they can pretend the coins are still in circulation.. even if stored in treasury vaults.. I don't think they have to reverse the seignorage.
I think the ratio between now and a century ago is probably closer to a dollar for what used to cost a penny rather than a quarter.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Kurr
1000+ Penny Miser Member
2906 Posts |
Posted - 02/04/2010 : 08:52:02
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I can't imagine coins are used much these days.
Sorry to hear that. I have several branches that sell me 10,000-30,000 in cents alone that they gather in the regular use for commerce. Thats not counting the other denominations of coins.
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Most people use plastic or paper and with the value of the dollar being so low, coins are pretty useless by themselves, perhaps the quarter should be the lowest denomination.
Bluegill nailed it on this one, want to pay 25% tax on everything? Or have everything rounded up to the nearest quarter, then a min .25 price raise every time, because that would be the lowest denomination.
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Do you know that 100 years ago, you could buy with a penny what you can buy with a quarter today? Having anything below a quarter in circulation today doesn't make much sense
Ok, what you are saying here is that in the last 100 years someone or something STOLE THE VALUE of our money. In stead of being upset at that, you want to consign the little things that remind you of that to the memory hole? Help to hide the evidence of their crime?
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and the mint actually loses money making pennies and nickels, perhaps dimes in the near future.
But for the past as you said 100 years they have paid what, .03 or less for a note with 100.00 value. That's a $99.97 profit PER NOTE. Does that not offset the extra 1-5 cent cost on coinage? Not to mention that using anything other than gold or silver coinage is unlawful as per our founding documents?
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The mint continues to waste money producing ugly, intrinsically worthless coins that most people don't even use, such as the Presidential dollar coins. Didn't they learn from all the failed dollar coins and even half dollars? Why would anyone want to carry around heavy coins when they could carry paper or plastic?
This is indeed the very same argument that the "goldsmiths" used when securing gold deposits at the start of the banking system we know, the one based in usury.
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I wish we could submit our searched, clad coins for melting so other coin roll hunters don't waste their time going through the same coins. We could capture all the silver left in circulation, perhaps in a few short years. I would really get into searching if it weren't for this problem, I feel like I completely wasted my time everytime I get skunked.
So only Silver coins have value? You are completely dismissing numismatics and numismatic value? What if eveyone on the past had that idea? You would have NOTHING to search. No Proofs, low mintages, errors, comemoratives, etc. You are assuming also that non silver coins do not go up in value.
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At least if I could submit my searched coins for destruction, I would feel as if I actually accomplished something.
Life is only about 2-5% of what happens to you. The rest is your perception of and reaction to those few events.
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Why are they storing all these boxes and boxes of half dollars for, they haven't been used in regular circulation in 40(?) years. All they are good for is mining for silver.
They have been used. Many people here get halves from gas stations grocery stores, as they still circulate and are used for commerce.
Have you seen or "I want the world plus 5%"? It deal with the subject matter of how we got here. You must be logged in to see this link.
Welcome to the forum brother, there is a lot to learn here! |
The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b]
He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
KJV Bible w/ Strong's Concordance: http://www.blueletterbible.org/
The book of The Hundreds: http://www.land.netonecom.net/tlp/ref/boh/bookOfTheHundreds_v4.1.pdf
The Two Republics: http://www.whitehorsemedia.com/docs/THE_TWO_REPUBLICS.pdf
Good reading: http://ecclesia.org/truth/government.html
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
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Edited by - Kurr on 02/04/2010 08:53:51 |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 02/04/2010 : 09:22:10
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quote:
Originally posted by crispydollars
I wish we could submit our searched, clad coins for melting so other coin roll hunters don't waste their time going through the same coins. We could capture all the silver left in circulation, perhaps in a few short years. I would really get into searching if it weren't for this problem, I feel like I completely wasted my time everytime I get skunked. At least if I could submit my searched coins for destruction, I would feel as if I actually accomplished something
You could always destroy them yourself...just throw your searched coins in a river, or a pit. That way, you would be helping all the other searchers who wouldn't be wasting their time looking through your rejects.
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Trust the government? Ask an Indian. |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/04/2010 : 09:35:07
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| I'll play melt value plus shipping. I have banks begging me for my machine rolls of quarters.. guess they must need them for commerce or something. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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crispydollars
New Member
USA
7 Posts |
Posted - 02/04/2010 : 10:15:54
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Coins were made for a time when you could actually buy things for under a dollar, now they are just not worth the weight in your pocket. You could also make the argument that if we start removing coins, people might catch on to the fact that the value of our money has been damaged.
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Kurr
1000+ Penny Miser Member
2906 Posts |
Posted - 02/04/2010 : 10:36:47
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 So a pre-1933 $20 $10 $5 and $2.50gold pieces, were made for purchases under a dollar, huh? You'll have to explain that one to me!
I' make the argument they already HAVE removed the coins, replaced them with tokens, then revalued the tokens to correspond with the value of a paper instrument, which they CONTINUE to cause to be made worth less (worthless). I think we would be better off to ban the Paper Note, and keep the coinage, preferably gold and silver, and conduct our affairs with money rather than debt.
Did you read the link? |
The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b]
He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
KJV Bible w/ Strong's Concordance: http://www.blueletterbible.org/
The book of The Hundreds: http://www.land.netonecom.net/tlp/ref/boh/bookOfTheHundreds_v4.1.pdf
The Two Republics: http://www.whitehorsemedia.com/docs/THE_TWO_REPUBLICS.pdf
Good reading: http://ecclesia.org/truth/government.html
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
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country_bumpkin
Penny Sorter Member
USA
86 Posts |
Posted - 02/04/2010 : 11:24:48
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quote:
Originally posted by HoardCopperByTheTon
I'll play melt value plus shipping. I have banks begging me for my machine rolls of quarters.. guess they must need them for commerce or something.
I'll pay you melt value AND I'LL PICK THEM UP AT YOUR HOUSE WITH MY TRUCK. Clad coins only, tho.
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“He who goes a-borrowing, goes a-sorrowing.”
- Benjamin Franklin |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 02/04/2010 : 13:07:19
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I don't think there is a melt ban on the dime or quarter, so melt away. Just don't be surprised when you loose 83% of the value when you sell your big melted glob.
country bumpkin, when you show up, there won't be any left. You'll only see tire tracks from when I was there. |
You don't have to be the BEST you just have to be.......SLICK
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 02/04/2010 : 15:15:14
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| I hope coins never go away. If a penny becomes truly worthless - and its getting there - we should just make higher denomination coins, not do away with them. Look at Great Britian; their 2 pound coin is equivalent to over 3 American dollar. Or the Swiss 5 Franc, just under 5 American dollars. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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dixiebooks
Penny Sorter Member
USA
92 Posts |
Posted - 02/07/2010 : 11:30:36
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| I'm with Kurr. Keep the coins - including the penny. If anything needs to go it is the dollar bill. We can use $1 coins and $2 bills. Those $1 just wear out too fast which is why (I think) most countries have already eliminated them. -js |
James.M.Wagner
eBid, my faorite greedBay alternative: http://us.ebid.net/perl/normal.cgi?ref=800619&mo=register-main |
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 02/07/2010 : 12:39:46
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You could also make the argument that if we start removing coins, people might catch on to the fact that the value of our money has been damaged.
Gosh...I thought that was what a lot of the members on here were already doing. Besides being into bullion many are into collecting coins for various reasons and if they are collected then they are no longer in circulation.
Enjoy your coin searches, everyone.  |
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 02/07/2010 : 12:41:39
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BTW...welcome to the forum, crispydollars. I like your name.
I enjoy getting nice crisp dollars back from the bank so I can look through those too for anything that might be collectible.
Enjoy your coin searches, everyone. |
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I wish our searched clad could be melted
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