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theo
Penny Hoarding Member
USA
588 Posts |
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realpenny
New Member
22 Posts |
Posted - 05/28/2010 : 23:41:15
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The Canadian Senate... the useless-good old boys-overpaid-unelected-unqualified- ya, I could go on forever is going to decide a very minor issue for us!!!! The Mint (huge profit maker) and banks (huge profit maker) need more money. We'll all be getting big tax breaks with the savings... oh actually for some reason taxes will go up. Never mind the government waste and corruption that cost way more than the cent ever could... no, lets make sure government and business do better and focus on some minor issue so we don't focus on them. I sometimes wish they were more corrupt so things would fall apart faster. Flaherty keep the deficit going and you'll be able to eliminate all coinage... then we'll really be saving some money!
I think the US would put up a fight, either interests groups, lobbists... In Canada we have the Senate (who aren't allowed to decide on any matters of importance) influencing the finance minister?!? Ultimately it's a minor issue. There are big issues and corruption in Canada and the US that are being ignored and North America's days on top are numbered. |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
 Posted - 05/29/2010 : 00:03:29
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A few thoughts come to mind...
Does it really costs more than 1¢ to make a plated penny?
Are there that many pre-'97 pennies still in circulation that hoarders are causing shortages?
Are there really that many hoarders in Canada?
I can't help but think this is a preemptive excuse for something...
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Nickelmeister
Penny Hoarding Member
Canada
588 Posts |
Posted - 05/29/2010 : 00:19:08
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quote:
Originally posted by Bluegill
A few thoughts come to mind...
Does it really costs more than 1¢ to make a plated penny?
Are there that many pre-'97 pennies still in circulation that hoarders are causing shortages?
Are there really that many hoarders in Canada?
I can't help but think this is a preemptive excuse for something...
1) I would say that yes, it does cost more than one cent to produce, handle and ship even a plated penny. In fact, you could probably make a penny out of a hypothetical "free" material and it would still cost more than one cent to manufacture, handle and ship it out to banks and distribution centers.
2) I don't believe the author of this piece uses the word "hoarding" in the same manner that we do on the message board. For the purposes of this article, hoarding pennies simply means that pennies are taken out of circulation and not put back (change jars, piggybanks, under couch cushions, thrown in the garbage, etc). Thus new pennies are required constantly even though there should theoretically be enough in circulation. It is a vicious circle because most people cannot be bothered to "cash in" their pennies at a bank. |
www.WinnipegGoldBuyer.com
Standing offer for sale of quality, second-hand solid gold jewellery:
<$100 USD worth - spot +25%, plus actual shipping
$101-500 worth - spot +20%, plus actual shipping
$501-1,000 worth - spot +15%, plus actual shipping
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realpenny
New Member
22 Posts |
Posted - 05/29/2010 : 00:55:32
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"...Beverley Lepine, the mint’s chief operating officer, that it costs a penny and a half to produce one."
- Plus, there's the shipping and high wages and retirement packages and extra holiday's.... it's the government. Plus, the government lies and their facts are distorted to say the least.
Doubt it. Any bank I go to has lots of cents. I can't give exact pre-97 percentages but it's got to be ~20% of a box. Hoarders (grandma and her big ass jar) causing shortages see: Plus, the government lies and their facts are distorted to say the least.
Doubt it. There is some, but most people I talk to have no clue about "money" - which is everyone. Also see: Plus, the government lies and their facts are distorted to say the least.
Yes, the mint will melt all the copper and nickel, making more money. They will also get to destroy all the work that was done previously and remake it, thus make more money. Somehow rounding in North America will work in the governments and businesses favour, more money. Plus, the government lies and their facts are distorted to say the least. The government never admits to a mistake... it always the citizens fault or the natives or hoarders... the government is perfect.
It's the Canadian way. You don't go take all the $20.00 bills first. You take the penny's, put them in your pocket - no one will bitch. You take the nickels... Things are cheaper in the US (food, housing, junk made out of plastic etc...) because Americans bitch and stand up for themselves but, I can see your glory days may be in the past as well. People don't think critically anymore. As long as you provide an excuse, most will never question it (or even know how to) and be content. It's a minor issue. There is HUGE waste and corruption but pennies are the new threat and the government will gladly take them all. When they are no longer currency they can say the stopped inflation by the amount of all the pennies ever minted and pocket the copper value. |
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realpenny
New Member
22 Posts |
Posted - 05/29/2010 : 01:43:52
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Nickelmeister: under couch cushions? :)
quotes from here: You must be logged in to see this link.
"Currently, there are about 30 billion pennies in circulation in Canada, but the Royal Canadian Mint has to pump about 500 million new ones into circulation each year - at a cost of 1.5 cents per penny - because so many end up between couch cushions or in fountains or jars."
***500 million cents / 33 million canadians = how many cents in the typical Canadian's couch? lol
It's the couches fault! If Canadians weren't suck pigs with all their cents in their couch the government wouldn't have to take the cent away!!!! |
Edited by - realpenny on 05/29/2010 01:58:23 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/29/2010 : 02:39:37
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*Is not in Canada*  |
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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fb101
Administrator
USA
2856 Posts |
Posted - 05/29/2010 : 10:11:19
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| If the Canadian senate thinks a as clearly, thoroughly, and honestly as the U.S. senate thank God they're worrying about pennies instead of something really dangerous. |
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Nickelmeister
Penny Hoarding Member
Canada
588 Posts |
Posted - 05/29/2010 : 10:36:16
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quote:
Originally posted by realpenny
Nickelmeister: under couch cushions? :)
quotes from here: You must be logged in to see this link.
"Currently, there are about 30 billion pennies in circulation in Canada, but the Royal Canadian Mint has to pump about 500 million new ones into circulation each year - at a cost of 1.5 cents per penny - because so many end up between couch cushions or in fountains or jars."
***500 million cents / 33 million canadians = how many cents in the typical Canadian's couch? lol
It's the couches fault! If Canadians weren't suck pigs with all their cents in their couch the government wouldn't have to take the cent away!!!!
"Couch cushions" - I was speaking metaphorically and perhaps hyperbolically. The fact is that pennies are removed from circulation one way or another. |
www.WinnipegGoldBuyer.com
Standing offer for sale of quality, second-hand solid gold jewellery:
<$100 USD worth - spot +25%, plus actual shipping
$101-500 worth - spot +20%, plus actual shipping
$501-1,000 worth - spot +15%, plus actual shipping
$1,001+ worth - spot +10%, plus actual shipping |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 05/29/2010 : 21:04:18
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30 billion divided by 33 million = 909.090909 pennies per head. I think I'm doing my fair share of that hoarding.
I would agree it must cost more than a penny to make a penny. Seriously can anyone manufacture and distribute any durable good for less than a penny each? If so, what? |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
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Coin Hoarders Cost Canadians a Pretty Penny
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