Posted on 11/27/2012 1:30:24 PM PST by angelcindy
Duuuh, $2 of course.
When will people start hoarding their Lincoln Memorial pennies and only spend their new shield pennies? When the shield pennies first came out I kept them separate, but now they are common enough that I don't bother. Sometime (if the penny elimination doesn't happen), the memorial ones will start getting rarer and rarer and kids will get excited when they see one like whenever I got a wheat penny.
Darned if I know. I’m pretty sure congress authorizes production, but I think the director of the mint has the authority to coin any quantity up to that amount.
And of course, LASSO (Lord And Savior Saint Obama) can make any adjustment that pleases him by Executive Order.
I just dug it out and looked.
1937.
I would grade it VG. A bit of high-point wear and a few scratches...
They are a pain, but the good thing is a “pocketful of change” can be $40...
I went through Toronto’s airport with over 150 of the dollar coins in my coat (I used to get Canadian coin - including $1 and $2 - for $.30 on the dollar, and traveled there enough to make it worthwhile); as the coat went through the X-ray one of the workers asked me if I knew these coins were in my jacket. I lifted it up and asked them how I couldn’t know; they simply shrugged and waved me through. I also spent about $200 in old paper currency (not in good shape, so it had no collectible value) in a duty-free shop, because they didn’t know if they could change it for fresh notes but were certain I could spend it there. Even the older workers didn’t recognize the bills. Heck, I even changed one of their Olympic sets in a coin shop in Niagara Falls (Ontario) because the face value of the coins had risen so much higher than the silver value, even factoring in the exchange rate (for which I had bought it).
Penny loafers just went up to a dime.
Believe me, to some of us old timers it already is...
$0.05 candy bars are all over a buck now and that $0.05 Coke is but a hazy memory.
I’m nutty enough to look at it the other way, and think I don’t see any reason for anyone to see where I’m spending my money. I think part of getting “off the grid” is simply using an ATM, then doing as you please with your cash.
I have a 5 gallon plastic jar of sorts.
It’s full, up to within about 1 inch from the top, of pennies and nickels.
I am assuming that after Jan 1st, pennies and nickels will still be legal tender!
But they would be worth more as collectors items than as money. Unless the government makes THAT illegal!
The value of a current melt value of a nickel is 5.01 cents, a penny is .52 cents.
Did it look like this? I'll give you five of Obamao's paper dollars for it.
VG would be so worn that only about half the buffalo’s horn remains visible.
If you can see the whole horn it’s at least VF - Very Fine.
This is a clever ploy to increase local gross receipts or sales tax revenue in the short term and to do away with currency altogether in the long term.
A nickel weighs 5 grams and is 75% nickel and 25% copper. Nickel's price is $7.61 / pound http://www.kitcometals.com/charts/Nickel.html, while copper is $3.53 per pound http://www.kitcometals.com/charts/copper.html.
Entering "($7.60 per pound * 0.75 + $3.53 per pound * 0.25) * 5 grams" into google gives $0.073 per nickel for the scrap metal value.
What do you mean by "soon"?
“merchants are preparing to round all transactions to the nearest ten-cent increment,”
And as this monetary change moves close to fruition, we’ll see merchants upping prices that end in .99 to the nearest dollar.01 so they can reap and instant 4% increase when it becomes law.
Where can you get pennies in bulk to run thru the sorter? Do banks keep them on hand?
Yup. Read the article after I commented. Bye bye nickels!
“BTW, I agree with abolishing dollar bills, once we don’t have pennies or nickels, we should move to the more economical dollar coin, and probably add a two dollar coin as well.”
YES! They’re filthy, and have a life measured in months, as opposed to decades for recyclable coins.
Just out of curiosity, are there still gum ball machines out there? If so, what coins do you put in them? It’s been a long time.
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