| Author |
 Topic  |
|
|
CommandD
New Member
22 Posts |
|
|
NiBullionCu
Penny Pincher Member
USA
168 Posts |
Posted - 10/10/2007 : 15:49:06
|
The short article doesn't mention the cent shortage of 1974.
I had a paper route then and by turning in $25 in pennies got a certificate from the mint for helping alleviate the shortage.
May 21, 1974
MINT APPEALS FOR RETURN OF THE PENNY
I’m calling on every American to get the penny back in circulation and keep it there, Mrs. Mary Brooks, Director of the Mint, said today. I’m calling on the banking industry to welcome the return of pennies during the month of June. I’m urging schools, churches and charities to examine ways and means to involve their members in collecting pennies for deposit.
The price of copper has retreated, closing at $1.15 per pound on May 20. There will be no aluminum penny. The 62 billion pennies produced during the past 15 years have no numismatic value and because of the huge mintage they will never attain great value....
For every $25 worth of pennies cashed in at a bank, the Treasury and the Mint are prepared to issue a Treasury Department certificate to the individual or group responsible.
from: You must be logged in to see this link. |
 |
|
|
coincollector101
Penny Sorter Member
86 Posts |
Posted - 10/14/2007 : 13:53:43
|
Do you Guys think we will cause another Penny Shortage?
CC |
|
|
|
Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 10/14/2007 : 16:49:11
|
I think when you look at things there could be only a few cents in the mint, but the mint will tell us there is a sufficient supply.
The determiner will be how fast they disappear after the law allows a change in composition. Canada melted their copper pennies after the composition change. I hear that copper pennies are near nonexistent in Canada.
I think when the times comes US Cents will disappear in a matter of days, more due to inflation than to change in composition. Both factors will need to be watched.
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. |
|
|
|
Cerulean
Penny Hoarding Member
USA
993 Posts |
 Posted - 10/15/2007 : 13:04:08
|
quote:
Originally posted by Cody8404
Canada melted their copper pennies after the composition change. I hear that copper pennies are near nonexistent in Canada
I was in Newfoundland in August, and still found handfuls of copper cents in circulation there. The solid-nickel dimes and quarters were quite common too.
RUNNING TOTAL
---------------------------------------
3501 zincs (1982-2007) 75.4%
1106 coppers (1959-1982) 23.8%
31 wheats (1920-1958)
7 Canadian (1968-1995)
1 dime (2004)
Wanna take money away from the Fed? Spend dollar coins! |
|
|
|
fiatboy
Administrator
912 Posts |
Posted - 10/15/2007 : 14:48:39
|
quote:
Do you Guys think we will cause another Penny Shortage?
No.
|
|
|
| |
Topic |
|
History of Penny Shortages
Forum Locked
