It is estimated that over twenty million tons of cents have been minted in the US since 1909. That is enough cents to circle the earth 4.25 times if each coin were laid end to end. That's a lot of pennies.
But that's nothing compared to Tootsie Roll production. Over 64 million Tootsie Rolls are produced every day! But even Tootsie Rolls have got nothing on the candy industry's staple product, chocolate. Confectioners manufacture over
twenty billion pounds of chocolate in the United States each year. Now that's a mouthful!
It used to be a cent would purchase a single Tootsie Roll.
That hasn't been the case since 1962.
What’s important is it will be done, sooner rather than later. I believe Congress has to OK this, but the proposal appears to have bipartisan support.
Edited to add: the Treasury secretary can make this decision; he is on record as supporting it.
@jmski52 said:
I think that the president should endeavor to make coinage great again, instead of getting rid of the cent.
What are you suggesting, $1 and $2 coins? $5 coins?
What would great coinage look like.
The substantial truth doctrine is an important defense in defamation law that allows individuals to avoid liability if the gist of their statement was true.
I've found it interesting that the Sacagawea and Presidential Dollars are similar in size to the Large Cent. A currency devaluation by any other name is still a currency devaluation.
Most countries simply add zeroes to their paper bills, but that never solves the problem of inflation - in fact it encourages more of the same.
I simply believe that returning to a sound money system with physical metals as the basis and elimination of fiat and elimination of fractional reserve banking would begin to restore accountability to government finances and it would solve some other problems along the way.
Digital currencies are no different than fiat, except that they can be made to be programmable and tracked to the fraction of a cent.
Q: Are You Printing Money? Bernanke: Not Literally
I hope I get some 2025 cents. I still have found only two 2024 nickels.
God bless all who believe in him. Do unto others what you expect to be done to you. Dubbed a "Committee Secret Agent" by @mr1931S on 7/23/24. Founding member of CU Anti-Troll League since 9/24/24.
@jmski52 said:
I've found it interesting that the Sacagawea and Presidential Dollars are similar in size to the Large Cent. A currency devaluation by any other name is still a currency devaluation.
Most countries simply add zeroes to their paper bills, but that never solves the problem of inflation - in fact it encourages more of the same.
I simply believe that returning to a sound money system with physical metals as the basis and elimination of fiat and elimination of fractional reserve banking would begin to restore accountability to government finances and it would solve some other problems along the way.
Digital currencies are no different than fiat, except that they can be made to be programmable and tracked to the fraction of a cent.
Basing a currency on a commodity creates instability, inflation, deflation and stifles growth. On the gold standard, there was a depression (panic) every 10 to 20 years.
Comments
Duplicate thread. Another member already started this one:😉
https://forums.collectors.com/discussion/1111321/no-more-lincoln-cents-new-executive-order-tonight#latest
See the linked NYT article.
What are these "pennies" that the article is referring to? The image is of a batch 2007 CENTS.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
We're actually up to 4 or 5 threads. Lol.
We need to close a couple.
VAULT BOX
Bump
yes 1,000,000 2025 cents would be good for a vault box
Raise your hand if you're hoarding more than your fair share!
Nothing is as expensive as free money.
It is estimated that over twenty million tons of cents have been minted in the US since 1909. That is enough cents to circle the earth 4.25 times if each coin were laid end to end. That's a lot of pennies.
But that's nothing compared to Tootsie Roll production. Over 64 million Tootsie Rolls are produced every day! But even Tootsie Rolls have got nothing on the candy industry's staple product, chocolate. Confectioners manufacture over
twenty billion pounds of chocolate in the United States each year. Now that's a mouthful!
It used to be a cent would purchase a single Tootsie Roll.
That hasn't been the case since 1962.
For the record, as of today, 1pm US/East, 11 Feb 2025, there is no such presidential order.
https://www.whitehouse.gov/presidential-actions/
ANA 50 year/Life Member (now "Emeritus")
This is a penny... And a very unusual one at that
Experience the World through Numismatics...it's more than you can imagine.
Patience, Grasshopper. It is in the pipeline.
the reporting said it was done
OMG you mean there are lies on the Internet????
ANA 50 year/Life Member (now "Emeritus")
In the last two weeks I have been finding all kinds of uncirculated cents from the 2010’s on up. I keep thinking one is going to be a 2025.
Lafayette Grading Set
Depends on what your definition of, "DONE" is.
What’s important is it will be done, sooner rather than later. I believe Congress has to OK this, but the proposal appears to have bipartisan support.
Edited to add: the Treasury secretary can make this decision; he is on record as supporting it.
“The thrill of the hunt never gets old”
PCGS Registry: Screaming Eagles
Copperindian
Retired sets: Soaring Eagles
Copperindian
Nickelodeon
Congress does not have to approve anything, the same thing that was done with halves and dollar coins can be done here.
I think that the president should endeavor to make coinage great again, instead of getting rid of the cent.
I knew it would happen.
Don’t let him know he could put his own image on it.
What are you suggesting, $1 and $2 coins? $5 coins?
What would great coinage look like.
The substantial truth doctrine is an important defense in defamation law that allows individuals to avoid liability if the gist of their statement was true.
I've found it interesting that the Sacagawea and Presidential Dollars are similar in size to the Large Cent. A currency devaluation by any other name is still a currency devaluation.
Most countries simply add zeroes to their paper bills, but that never solves the problem of inflation - in fact it encourages more of the same.
I simply believe that returning to a sound money system with physical metals as the basis and elimination of fiat and elimination of fractional reserve banking would begin to restore accountability to government finances and it would solve some other problems along the way.
Digital currencies are no different than fiat, except that they can be made to be programmable and tracked to the fraction of a cent.
I knew it would happen.
That's against the law. Oh wait, not a major supporter of the rule of same...
ANA 50 year/Life Member (now "Emeritus")
I hope I get some 2025 cents. I still have found only two 2024 nickels.
God bless all who believe in him. Do unto others what you expect to be done to you. Dubbed a "Committee Secret Agent" by @mr1931S on 7/23/24. Founding member of CU Anti-Troll League since 9/24/24.
Getting rid of the cent may well make coinage great again.
Basing a currency on a commodity creates instability, inflation, deflation and stifles growth. On the gold standard, there was a depression (panic) every 10 to 20 years.