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84 Posts |
 Posted - 01/23/2009 : 21:55:36
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maybe this has been covered in the copper sorting section but I was thinking today about what could be the only hope for Obama to stimulate the economy and that would be to get rid of the penny after the new ones come out and turn every old penny's value into 5 cents.
Maybe we need to reconsider the need for dump banks after sorting 
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 01/23/2009 : 22:07:56
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Works for me, as I'm sitting on about 50lbs of coppers.
You do mean just the copper cents, right? |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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84 Posts |
Posted - 01/23/2009 : 22:13:44
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well I'm still sorting but there was a proposal by the federal reserve bank in Chicago not that long ago to make every penny out there worth 5 cents and simply eliminate the penny altogether
doing this is the ONLY way I can think of that Obama could drastically increase consumer spending |
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fb101
Administrator
USA
2856 Posts |
Posted - 01/23/2009 : 22:21:40
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OK. Then I can drop my withholding to zero, invest in pennies and make the quarterly payments to the IRS in pennies.
Heck, I'd be glad to put 10K into pennies and use that to pay my bills for the next few years. |
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84 Posts |
Posted - 01/23/2009 : 22:25:33
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the only realistic way I can even see this getting pulled off is to make it where you would have to change them into a bank and get .05 credit ea. This would get the public to put cash back in the banks instead of bank runs for what's left of their cash, it would renew faith by the masses in the banking system and therefore the economy, and most importantly it would get people spending money again in a big way
just a theory though |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 01/24/2009 : 05:07:01
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Some of us would make out pretty well on such a deal. But what would I do with all my Ryedales? With my luck, there would probably be some sort of 1 ton limit 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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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 01/24/2009 : 09:07:22
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quote:
Originally posted by HoardCopperByTheTon
Some of us would make out pretty well on such a deal. With my luck, there would probably be some sort of 1 ton limit or something.
I agree if every penny was worth a nickel that I have stacked up in the basement that would be GREAT. Someday I think they will be and maybe even more than a nickel, just don't know if I will live long enough to see it. But my kids or grandkids will sure be happy. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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redneck
1000+ Penny Miser Member
1273 Posts |
Posted - 01/25/2009 : 01:01:52
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quote:
Originally posted by Kurr
Those who set the prices of items will adjust for the re-valuation and you would gain nothing. My .02.
Exactly, it's all relevant...
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84 Posts |
Posted - 01/25/2009 : 15:50:28
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quote:
Originally posted by Kurr
Those who set the prices of items will adjust for the re-valuation and you would gain nothing. My .02.
I thought about this too but it's irrelevant and not even realistic. WAY too much competition out there and someone will always be willing to be the cheapest or not even adjust pricing to get business |
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