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n/a
deleted
478 Posts |
 Posted - 05/16/2009 : 10:36:41
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This is probably what will happen when the penny is eliminated or when the metal content of other US coins is changed. It's already happened in New Zealand in 2006.
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New Zealand's old 50, 20, 10 and 5 cent coins are no longer legal tender. This means that retailers do not have to accept them as payment for goods or services.
The coins will always be redeemable for face value at the Reserve Bank, No 2 The Terrace, Wellington.
On 31 July 2006, smaller and lighter 10, 20, and 50 cent coins were introduced into circulation. The new coins have retained the same designs, but the new 10 cent coin is copper-coloured, and the 20 cent coin has a distinctive edging. The $1 and $2 coins are unchanged.
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Edited by - n/a on 05/16/2009 10:58:54 |
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scooter
Penny Pincher Member
240 Posts |
Posted - 05/16/2009 : 12:07:29
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| melt ban should end that day............................first post in a while, hi Guys |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 05/16/2009 : 13:52:48
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If the worst happens and the dollar collapses, I don't believe there will be a lot of melting. In fact the copper penny might actually be useful in commercial transactions.
The only time melting would make sense is if the economy was relatively healthy and there was a serious shortage of copper. Based on what I've read, I think it would be at least twenty years before that might happen. If you believe Ted Butler we will see a silver shortage first. |
Edited by - theo on 05/16/2009 13:53:28 |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 05/16/2009 : 14:33:36
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quote:
Originally posted by CuproNickle
This is probably what will happen when the penny is eliminated or when the metal content of other US coins is changed. It's already happened in New Zealand in 2006.
You must be logged in to see this link.
New Zealand's old 50, 20, 10 and 5 cent coins are no longer legal tender. This means that retailers do not have to accept them as payment for goods or services.
The coins will always be redeemable for face value at the Reserve Bank, No 2 The Terrace, Wellington.
On 31 July 2006, smaller and lighter 10, 20, and 50 cent coins were introduced into circulation. The new coins have retained the same designs, but the new 10 cent coin is copper-coloured, and the 20 cent coin has a distinctive edging. The $1 and $2 coins are unchanged.
Any wiff from the US Treasury that the penny's metallic content is going to be changed or the penny is going to be discontinued will cause the public to remove copper pennies from circulation. It will be just like public did in 1965 when they began to remove silver coins from circulation.
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---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/16/2009 : 18:53:19
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like junk silver, for investors, the pennies will be worth more to them in their current form. And bought and sold in their current form.
weight/purity/authenticity verifiable in coin form. Not as easy in bullion form unless bought from a good refiner. |
Edited by - buyingsilvers on 05/16/2009 18:53:35 |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 05/16/2009 : 19:16:43
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quote:
Originally posted by buyingsilvers
like junk silver, for investors, the pennies will be worth more to them in their current form. And bought and sold in their current form.
weight/purity/authenticity verifiable in coin form. Not as easy in bullion form unless bought from a good refiner.
That's right! It will be the same as junk silver  is today. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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misteroman
Administrator
USA
2565 Posts |
Posted - 05/17/2009 : 09:14:54
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| So soon we will be getting skunked in penny rolls?!?!?!!!?? and wellcome backer Scooter! How ya been? |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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When the Penny is Eliminated........
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