Can someone give me a logical explanation of why there is such a higher mintage of pennies now than before. Is there additional need or demand that has been created every year moving forward? Is it due to increased financial transactions. Especially with the increased use of credit and online payments, why are there so many pennies being minted? Is it really all to try and give us worse percentages on sorting
It is weird; I was not finding any 2010 pennies up until this month. Now I am finding at least 2 per roll.
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson
I haven't found a single 2010 in any rolls or change, however I picked up a $50.00 bag from the Publix coin machine the other day and pulled 60 of them. Still haven't found one in a box yet??? Oh well 40 more and I will put my two rolls back and that will be good for me.
You also have to factor in that many coins are simply lost every year.
I remembering reading that 6-7% of all pennies ever made disappear from circulation every year due to hoarding and lost coins. At that rate all pennies would be gone in less than 14 years without replacements
It was in one of the GAO documents I posted earlier, but if I remember right it said in one of the studies that something like 65% or more of the pennies produced are just kept and not put back in circulation, so in order to keep the supply more have to be minted.
You also have to factor in that many coins are simply lost every year.
I remembering reading that 6-7% of all pennies ever made disappear from circulation every year due to hoarding and lost coins. At that rate all pennies would be gone in less than 14 years without replacements
actually say if there were 100 pennies in the world and you lose 7% thats 7 pennies but then then next year it would be 7% of 93 pennies so you lose about 6.51 pennies the number of pennies lost going down each year. so it would actually be quite a bit more than 14 years
Mintage quantities
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Posted - 05/11/2010 : 15:43:22
