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Since pennies aren't real money any more...
cladking
Posts: 28,377 ✭✭✭✭✭
...and are actually a drain on a system which has no demand for more right now, will
the FED remove older pennies from circulation to get the new ones in?
I've seen only two or three 2008 cents and they made billions of them. These are all
sitting in jumbo bags waiting for the economy to demand more pennies. To get these
to "circulate" they will either have to destroy tens of billions of old coins or the economy
will have to pick up.
Will the FED even care if the new cents are seen?
Every new cent you see will probably represent two of the old cents removed from the
system. Bring 'em on.
the FED remove older pennies from circulation to get the new ones in?
I've seen only two or three 2008 cents and they made billions of them. These are all
sitting in jumbo bags waiting for the economy to demand more pennies. To get these
to "circulate" they will either have to destroy tens of billions of old coins or the economy
will have to pick up.
Will the FED even care if the new cents are seen?
Every new cent you see will probably represent two of the old cents removed from the
system. Bring 'em on.
Tempus fugit.
0
Comments
so i guess it where yah live - sometime when i get 25 dollars boxes from the bank they are all new - ugh
Snowman
<< <i>here is Syracuse - a good portion of all pennies in change are new ones 2008's
so i guess it where yah live - sometime when i get 25 dollars boxes from the bank they are all new - ug >>
Coin demand is very local and this especially applies to cents.
I suppose it's possible that there's no large overhang right now but there
is probably some since the Christmas shopping season was so subdued.
There is also a move by some people to get away from credit card purchases
and use cash to impose a sort of self control on their spending. This might
result in increasing demand if the trend gets very large.
<< <i>Coin wrappers read Pennies >>
Do you believe everything that you read?
Worry is the interest you pay on a debt you may not owe.
My Ebay
1934-1958 RB Lincoln Short Set
<< <i>I'm just not the kinda person that has to correct everyone over such a minute detail when 90% of the country refers to cents as pennies, even banks. >>
I think you will find that the US Mint calls them pennies as well!
<< <i>They are pennies when you spent them and cents when you collect them. At least thats what I thought. >>
They're cents when I collect them and pennies when the dolt in line ahead of me is counting them.
Just about all post-1974 cents are pennies. Worthless damn pennies.
Meanwhile as usual in New Brunswick, Canada, new dates are very common.
<< <i>I'm just not the kinda person that has to correct everyone over such a minute detail when 90% of the country refers to cents as pennies, even banks. >>
As a numismatist, you should know better.
Worry is the interest you pay on a debt you may not owe.
They are nice and shiny at top of the pile in the sparkletts bottle