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coincollector101
Penny Sorter Member
86 Posts |
 Posted - 10/14/2007 : 13:47:04
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Hey Guys,
Im wondering how many years you think till copper pennys are hard to come by?
Im guessing about 3 years.
Happy Hoarding,
CC
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 10/14/2007 : 15:19:11
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Welcome to the forum Coincollector101.
It is hard to say when the copper cent supply will dry up, considering all of the cents minted form 1959-1981 it could take about 5-8 years before pre 82 cents become as scarce as wheats. Probably 10-14 years for pre 82s become as scarce as indian heads. (I didn't factor in the copper 1982 cents since no one knows how many were produced, the Mint didn't keep records of how many were zinc/how many were copper so the amount that can be found in circulation is uncertian.)
These are just best guesses, the eventual decline in copper cents in circulation will be determined by:
the increased hoarding of copper cents
increase in hoarders
increase in a copper cents melt value due to inflation
the lifespan of a penny, use & abuse, pennies tossed away by accident or intentionally, etc.
(This applies to other blogs/forums, didn't mean to annoy anyone here with this)
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Destroy the Moonbat breeding caves.
Moonbat, A winged troll. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 10/14/2007 : 16:42:02
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I think pencilvanian is right. When you sort cents there are some wheats that you find, you can even get them back in change. I personaly haven't found any indian cents.
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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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 10/15/2007 : 13:08:39
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It all depends on how long the penny survives as a denomination. The penny is being used as the canary in a coal mine, the first to die if the fumes of inflation become overpowering. As long as the gov'ment wants to downplay inflation, it will steadfastly protect the penny. When the gov'ment finally admits to inflation, the cent's day will be numbered. Once the penny is longer used for daily commerce, it will vanish like the large cent, the silver dollar, and the half dollar.
RUNNING TOTAL
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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! |
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fiatboy
Administrator
912 Posts |
Posted - 10/15/2007 : 14:25:13
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quote:
It all depends on how long the penny survives as a denomination. The penny is being used as the canary in a coal mine, the first to die if the fumes of inflation become overpowering. As long as the gov'ment wants to downplay inflation, it will steadfastly protect the penny. When the gov'ment finally admits to inflation, the cent's day will be numbered. Once the penny is longer used for daily commerce, it will vanish like the large cent, the silver dollar, and the half dollar.
What he said.
Also, I think the nickel will have a similar fate.
And when the penny dies, I think it'll be quick. People will want to hoard them, but it'll be too late. We'll have already pulled most of the good ones, maybe the Mint will demonetize them, banks simply won't sell 'em anymore, or maybe the Amero will take care of the whole monetary/inflation crisis in one fell swoop. Whatever happens, I'm glad I'm saving them now and not later. |
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 10/15/2007 : 16:30:05
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i agree that they wont be hard to come by until the denomination is no more. my thoughts are that 2009 dated coins will be the last. kind of a nice 100 year farewell send off.
look at how many new members are joining each month. word is getting out. ive seen mention on more than a couple other blogs about hoarding. the time is now to get whatever you can.
also im really curious as to how many ryedale machines are out there. i would love to know how many of each type have been sold and so forth but i suppose thats information he may not want to release. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/15/2007 : 19:16:04
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quote:
Originally posted by coincollector101
Hey Guys,
Im wondering how many years you think till copper pennys are hard to come by?
Im guessing about 3 years.
Happy Hoarding,
CC
It depend on what you meand by "hard to come by". Right now the mint continues to issue new zinc cents each year. That in of itself dilutes the copper to zinc mixture so it decreases our sorting percentages year by year. IMO, the production of new zinc cents is decreasing our percentages more so than what is being sorted out and hoarded by people like us.
It is only a matter of time before the zinc cents return to over 100% melt value and stays there. Inflation alone will cause that to happen. When that does happen, then I expect that more penny hoarders will join us and speed up the process of of removing both the coppers and zincers from circulation. I expect this to all occure within 4 years. Two years tops before we see a flood of steel cents.
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coincollector101
Penny Sorter Member
86 Posts |
Posted - 10/15/2007 : 19:31:18
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Sounds to me I need to buy another Reydale machine and Buy TONS MORE PENNIES.....
Thanks For the Great posts guys,
Cc |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 10/15/2007 : 19:42:13
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quote:
Originally posted by Cerulean
It all depends on how long the penny survives as a denomination. The penny is being used as the canary in a coal mine, the first to die if the fumes of inflation become overpowering. As long as the gov'ment wants to downplay inflation, it will steadfastly protect the penny. When the gov'ment finally admits to inflation, the cent's day will be numbered. Once the penny is longer used for daily commerce, it will vanish like the large cent, the silver dollar, and the half dollar.
If I am not mistaken, I believe it was New Zealand that did away with their 10 cent, 5 cent and 1 cent coins, so eliminating the smaller denominated coins is a real possibility.
(This applies to other blogs/forums, didn't mean to annoy anyone here with this)
Starve the Trolls, don't feed or encourage them.
Destroy the Moonbat breeding caves.
Moonbat, A winged troll. |
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fiatboy
Administrator
912 Posts |
Posted - 10/15/2007 : 21:27:48
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quote:
It is only a matter of time before the zinc cents return to over 100% melt value and stays there. Inflation alone will cause that to happen. When that does happen, then I expect that more penny hoarders will join us and speed up the process of of removing both the coppers and zincers from circulation. I expect this to all occure within 4 years. Two years tops before we see a flood of steel cents.
Good points!
quote:
If I am not mistaken, I believe it was New Zealand that did away with their 10 cent, 5 cent and 1 cent coins, so eliminating the smaller denominated coins is a real possibility.
I could be wrong, but I think they still have their 10 cent coin, but they changed its size, I think, making it smaller (i.e. less metal).
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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How Many years do we have left for copper Pennies?
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