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Bid Farewell to Pennies and Nickels!
Wealth Wire ^ | , November 26th, 2012 | Brittany Stepniak

Posted on 11/27/2012 1:30:24 PM PST by angelcindy

The U.S. is following Canada's footsteps regarding the production of pennies and nickels. According to U.S. Treasury Secretary Tim Giethner, our U.S. Mint intends to remove the penny and nickel coins from circulation beginning early in January 2013.

(Excerpt) Read more at wealthwire.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: coincirculation; coins; giethner; january2013; markofthebeast; nickels; nickles; obamasfault; pennies; usmint; ustreasury
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To: Dr. Bogus Pachysandra

I agree. The $1 bill should have been eliminated decades ago. But, somehow the govt keeps screwing up the minting of a $1 coin.


61 posted on 11/27/2012 1:58:40 PM PST by Brookhaven (theconservativehand.com - alt2p.com)
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To: TheZMan

“This is a tax increase in disguise.”

No, this is undisguised inflation.


62 posted on 11/27/2012 1:58:56 PM PST by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: angelcindy
merchants are preparing to round all transactions to the nearest ten-cent increment

Even if we stop making pennies and nickels, most merchants will still accept them. So if a merchant tries rounding up to the next dime increment, you can probably force them to take your pennies and nickels. Smart merchants would, just for the value of the metals. (My wife would kill me if I touched her stash of hundreds of thousands of pennies.)

63 posted on 11/27/2012 1:59:36 PM PST by roadcat
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To: SoldierDad

Don’t take any wooden nickels!..........of course in a few years we may all be taking wooden nickels...........


64 posted on 11/27/2012 1:59:45 PM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: thackney

Wow! ‘Hope’ Congress would stop Omugabe from instituting the ‘change’. sarc/:)


65 posted on 11/27/2012 2:00:12 PM PST by chulaivn66 (Semper Fidelis)
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To: AnAmericanAbroad

I think its vitally important for people to know how much of the price is tax. I wish there was a way to calculate how much of the price is corporate taxes too


66 posted on 11/27/2012 2:00:14 PM PST by GeronL (http://asspos.blogspot.com)
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To: Track9
Soon the dollar will be the new penny.

Anyone who's done any foreign traveling recently knows that it already is.

67 posted on 11/27/2012 2:00:54 PM PST by Gay State Conservative (Benghazi: What Did Baraq Know And When Did He Know It?)
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To: WVKayaker

I bought something at a 7-11 about six months ago, and the change immediately caught my eye.

There was a Buffalo nickel in it!! 1942, IIRC. I stuck it in a coin jar I have for wheat pennies, etc.


68 posted on 11/27/2012 2:01:02 PM PST by djf (Conservative values help the poor. Liberal values help them STAY poor!!!)
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To: kearnyirish2

Pretty soon a dollar won’t be worth the paper it is printed on...


69 posted on 11/27/2012 2:01:22 PM PST by broken_arrow1 (I regret that I have but one life to give for my country - Nathan Hale "Patriot")
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To: tacticalogic
Because currently, there's almost a nickel's worth of metal in a nickel. They know what's coming.

Nope, we can't have our currency being worth
the value printed on it,
it's unAmerican. /sarc

70 posted on 11/27/2012 2:01:22 PM PST by HangnJudge
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To: Brookhaven

It cost them 30 cents to make those new presidential dollar coins. But no bank would take them. There’s 2 billion coins locked up somewhere in DC.


71 posted on 11/27/2012 2:01:36 PM PST by ExxonPatrolUs (The Ameritopian Motto: Gov The Sheeple, Buy The Sheeple, Bore The Sheeple)
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To: kearnyirish2

In theory (or so they say) the reason our dollar coins are always quarter sized is for vending machines. Most of them can handle the dollar coins. Except of course that quarter size makes them even more annoying for us, so we don’t use them.

Of course as electric money gets more prevalent the whole discussion becomes more and more meaningless. I know of plenty of vending machines that take debit cards, even for cheap stuff like soda. The whole physical money thing is on the path of obsolescence.


72 posted on 11/27/2012 2:02:30 PM PST by discostu (Not a part of anyone's well oiled machine.)
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To: discostu

“Except the people LIKE the paper dollars, which is why we keep using them. The government is supposed to work for us, they should stick with paper. The people don’t really give much of a crap about pennies and nickles. But we use paper dollars, the mint can shove the coins.”

Not me. I would much rather have a combination of $2 bills and $1 coins.


73 posted on 11/27/2012 2:04:40 PM PST by Brookhaven (theconservativehand.com - alt2p.com)
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To: discostu
In theory (or so they say) the reason our dollar coins are always quarter sized is for vending machines.

So by eliminating the penny and nickel, we can make dollar coins the size of a nickel and every vending machine will take it!

74 posted on 11/27/2012 2:05:36 PM PST by Erik Latranyi (When religions have to beg the gov't for a waiver, we are already under socialism.)
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To: ExxonPatrolUs

It’ll just round, like it already does. Most sales tax rate don’t actually result in clean pennies anyway. The big question is will they bill differently for non-cash customers, since debit cards don’t really care about pennies and nickles. If they don’t round for non-cash that’ll hasten the demise of physical money.


75 posted on 11/27/2012 2:05:36 PM PST by discostu (Not a part of anyone's well oiled machine.)
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To: LostInBayport

I say we get rid of the second.

As a unit of time they are too short to get anything really done, outside of a quick burp or a fart. ; )


76 posted on 11/27/2012 2:05:59 PM PST by Gasshog
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To: SES1066

Against the law or not, people are melting them down.

You can even buy sorters that will spot the coins that are higher in the desirable metal.

http://www.pennysorter.com/


77 posted on 11/27/2012 2:06:47 PM PST by Brookhaven (theconservativehand.com - alt2p.com)
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To: angelcindy

Buy nickels, even now that copper has gone done it has a smidgeon more than .05 in copper and nickel.


78 posted on 11/27/2012 2:07:33 PM PST by tiki
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To: Red Badger
Don’t take any wooden nickels!..........of course in a few years we may all be taking wooden nickels...........

Not likely. The environmentalists will file suit.

79 posted on 11/27/2012 2:09:23 PM PST by SoldierDad (Proud dad of an Army Soldier who has survived 24 months of Combat deployment.)
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To: 1_Rain_Drop

At 1,000% hyper-inflation, it’ll cost $19.90


80 posted on 11/27/2012 2:09:36 PM PST by mikrofon (Hope & Change)
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