Speculations About the Future of the Cent Coin
Creg
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Speculations About the Future of the Cent Coin
Starting point—
The Congress approves the elimination of the cent—no politics other than lobbying for economic interests, foreign and domestic, and on behalf of the public.
The rules and customs for acceptance do not change, except for round-ups/downs.
Does the treasury stop distribution, and just exchange from then on?
Who depends on newly minted cents?
What do collectors do? (Or you?)
What do the public do? (Or former collectors,? e.g. @JoeyKoins)
What do honorable dealers do? (Or you? Go deeper into cents, start dealing cents, or ignore?)
What do hustler-sellers say and do? You Tube, eBay, your favorite here
Does the treasury begin to keep them?
Does the treasury have a buy back program at above face value?
Where does the majority of the sorting of the two compositions take place?
Do metal brokers/ scrap dealers buy bulk lots?
How quickly do they become a curiosity?
Do tourists traps sell cents or metal disks for the elongated cent press?
Conspiracies? (Omit your political subtext, though)
Is theTransnistrian government grabbing up our old cents to back up the Transnistrian ruble?
(Cynicism, not politics. Every time @MrSpud buys its mint set the currency rises 18%)
Comments
If the US government stops making them for commerce, I hope they at least continue to make them for collectors in the original copper alloy and include them in the annual mint sets and proof sets. They could also sell them in rolls of fifty coins to coin collectors and dealers at the cost to manufacture them plus a reasonable profit to the mint.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
…. OK, who’s ready to kill Lincoln? Elon Musk and his government waste decisions. All prices of items should be held to one decimal, $23.6. The dime should be the smallest denomination, and the 50 cent piece should be made slightly larger than the nickel. ———. Coins in general are anachronistic. Plastic and technology made them near useless.
You could research these questions as to how things went in other countries like Australia, who did get rid of the cent back in 1992.
WS
The cent would still be used for all financial transactions such as checks, credit card purchases, debit card purchases, electronic funds transfers, etc. The cent would not be used only for cash transactions which would be rounded off to the nearest nickel.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Why? Gas is priced to 9/-10 cent but no one’s clamoring for a “Mil” to be coined.
Was the 1909 Cent supposed to be a circulating commemorative, or replacement for the Indian Head Cent?
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