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Canada to stop production of the penny
- Thread starter Minas man
- Start date
Here a link to the news story.TheOtherLeggoHead
New member
Monetary devaluation.
An American penny is worth about 3 cents. Can't wait until Congress says they will stop production of this worthless coil. Then we can be free to meld down all our pennies pre 1983 as they are all copper. On the news last month, some guy in a burb of New York City had a total of 700 thousand copper pennies stored in his garage. That is 7 thousand dollars face value and 21 thousand dollars melt value. Nice return on his investment. Not so sure I would wanna broadcast to the world that I had this stored in my garage though.
Silverado6x6
New member
During an average day I make several purchases, all the pocket change I collect I never actually ever spend, instead when I get home I toss it into a plastic bucket.
Just after the first of the year I seperate it and then it all gets into smaller 1 gallon pails, I usually roll only the quarters which I then spend, but everything else has been steadily building up, to date I have at least one 3 gallon water bottle full of pennies, out of that 75 lbs of pennies I may have found only a couple of dollars worth of pre 1982 solid copper pennies. The quarters do get scanned for any of the older ones the same for all the others, and the same with foreign coins.
On average I collect $500 in quarters and my guess another $2-300 in smaller change, my guess is I have about $1,000 in pennie, nickels and dimes.
BTW the quarters went to pay my property taxes, they do get a bit miffed to my extreme pleasure.
In summary its getting pretty hard to find older denominatons in the general circulation, it does happen but not often and I think the banks scan them somehow and pull them out.
Just after the first of the year I seperate it and then it all gets into smaller 1 gallon pails, I usually roll only the quarters which I then spend, but everything else has been steadily building up, to date I have at least one 3 gallon water bottle full of pennies, out of that 75 lbs of pennies I may have found only a couple of dollars worth of pre 1982 solid copper pennies. The quarters do get scanned for any of the older ones the same for all the others, and the same with foreign coins.
On average I collect $500 in quarters and my guess another $2-300 in smaller change, my guess is I have about $1,000 in pennie, nickels and dimes.
BTW the quarters went to pay my property taxes, they do get a bit miffed to my extreme pleasure.
In summary its getting pretty hard to find older denominatons in the general circulation, it does happen but not often and I think the banks scan them somehow and pull them out.