US Gov't Phasing out the PENNY and NICKEL in 2013

[smoothie]

http://www.coinflation.com/coins/basemetal_coin_calculator.html

I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.

Copper pennies are worth two pennies.

I'm talking about melt value of course.

I'm still curious why our nickel today (same materials) could buy much more in the 40's, 50's, 60's, etc.

[DiCE1904]

http://www.coinflation.com/coins/basemetal_coin_calculator.html

I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.

Copper pennies are worth two pennies.

I'm talking about melt value of course.

Is there a certain year for better (more %) copper pennies ?

[smoothie]

http://www.coinflation.com/coins/basemetal_coin_calculator.html

I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.

Copper pennies are worth two pennies.

I'm talking about melt value of course.

Is there a certain year for better (more %) copper pennies ?

1982 and earlier.

[DiCE1904]

http://www.coinflation.com/coins/basemetal_coin_calculator.html

I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.

Copper pennies are worth two pennies.

I'm talking about melt value of course.

Is there a certain year for better (more %) copper pennies ?

1982 and earlier.

thanks, ill look into it

[laughingbear]

I have been stacking pre 82 pennies for years, that is the way to go in my opinion. 

Currently:

pre 82 pennies have a metal value of =$0.0238623

nickels have a metal value of = $0.0517926
http://www.coinflation.com/

So you more than double your investment with the penny, not so much with the nickel.

The downside is that you have to sort the pennies.  A lot of people hand sort, but if you want to get serious about sorting you can grab one of these:
http://www.pennysorter.com/

I usually go to the bank and grab $100 worth of pennies at a time, sort them, and return the 83 and older pennies into the change machine at the bank, with a zero processing fee.  I love my bank!  1 out of every 4 or so boxes I find an Indian head penny, and a few handful of Wheaties too, and I can sell those on ebay for added profit.

Ill also do this with dime and quarter boxes treasure hunting silver. I usually find 1 silver coin per box in the dimes and quarters.  You have to hand sort those though, but it is fast work, looking at the edges of the coins for lines.

[bitCooper]

You guys do know it's illegal to melt these coins, right?

[laughingbear]

You guys do know it's illegal to melt these coins, right?

It IS illegal, until they take them out of circulation, then whoever has the most, wins.

[johnniewalker]

If this doesn't wake people up I don't know what will

[joelnet]

Appears to be a HOAX that went viral.

http://www.usmint.gov/faqs/circulating_coins

Are there any plans to remove the one-cent coin (more popularly known as "the "penny) from circulation?

We occasionally hear from people who believe that the Mint should stop producing one-cent coins and remove them from circulation. You may be interested to know that the penny is the most widely used denomination currently in circulation. There was a study conducted in 1976 of this and other suggestions regarding our coinage system. However, the idea of eliminating the penny received strong objections from an overwhelming majority of State revenue collection departments, retail firms, and commercial banks. Other objections voiced in later studies concerned the inflationary impact of such a proposal on prices and possible difficulties on collecting sales taxes.

It has not been confirmed that the penny has outlived its usefulness. Neither business nor the public as a whole has pressured for changes in the coin denominations in circulation today. In addition, our coin and currency system is among the most trusted in the world. The vast majority of users apparently are content with the existing coin denominations, including the one-cent coin. As a result, the Treasury Department has no plans now to cease production of the penny. In addition, such a change to the United States monetary system could not be done without prior Congressional authorization. If directed to do so by legislation enacted by the Congress and signed by the President, the Treasury Department would again study phasing out the penny. Since the demand exists and the Federal Reserve Banks require inventories to meet the demand, the United States Mint is committed to producing the penny.

tldr; the Treasury Department has no plans now to cease production of the penny


So if you wen't out and bought $100 worth of nickels and the teller looked at you like you were insane.  It's because you were insane

[Yuhfhrh]

Appears to be a HOAX that went viral.

US govt going to phase out the penny and nickel in 2013 http://www.silverdoctors.com/penny-and-nickel-coins-to-be-phased-out-in-2013/

Stack pennies and nickels?

hmm 

http://www.sutori.com/phpbb/viewtopic.php?f=81&t=1719&p=2843#p2843

[saddambitcoin]

even though the news was fake it seems it still is a good investment to hoard pre-1982 pennies (95% copper 5% zinc)...

[kalleguld]

The vast majority of users apparently are content with the existing coin denominations, including the one-cent coin.

This is what I don't get. The penny is, for all intents and purposes, useless. The only machines they interact with are those designed to getting rid of them. Even if you collected all the pennies you've ever come into contact with you couldn't buy a Happy Meal. And if you really wanted precision, why not go for 1/10 of a cent?

[Crypt_Current]

The vast majority of users apparently are content with the existing coin denominations, including the one-cent coin.

This is what I don't get. The penny is, for all intents and purposes, useless. The only machines they interact with are those designed to getting rid of them. Even if you collected all the pennies you've ever come into contact with you couldn't buy a Happy Meal. And if you really wanted precision, why not go for 1/10 of a cent?

Are you saying that no one ever comes into contact with more than 300 - 400 pennies during his/her lifetime?

[Crypt_Current]

The vast majority of users apparently are content with the existing coin denominations, including the one-cent coin.

This is what I don't get. The penny is, for all intents and purposes, useless. The only machines they interact with are those designed to getting rid of them. Even if you collected all the pennies you've ever come into contact with you couldn't buy a Happy Meal. And if you really wanted precision, why not go for 1/10 of a cent?

Are you saying that no one ever comes into contact with more than 300 - 400 pennies during his/her lifetime?

I was shocked as well! I've actually purchased happy meals with pennies!

Like I'm sayin'.     

[amagimetals]

You guys do know it's illegal to melt these coins, right?

Many drugs are illegal too. People still do drugs.

[the joint]

picked up $100 worth of nickels today at the bank when I cashed a check, the people looked at me like I was insaaaaaane

I'm doing this too on a slightly smaller scale.  With every paycheck, I'm taking out $20 in mint-rolled nickels and putting them aside.

[ElectricMucus]

Good, good...

I can't wait till you guys discover gold scraping using hazardous chemicals.

[Bees Brothers]

http://www.survivalblog.com/2012/12/debasement-is-still-inevitable-another-year-for-the-real-cupronickel-nickel.html

The above article has some more links on the topic.

[casascius]

Since I am considering doing my next 5 BTC coin in .999 fine silver instead of a nickel-plated car wash token, I've been thinking that I'd like to issue a tongue-in-cheek press release of how I'm "forced" to use a more expensive metal for my 5BTC coin due to "plummeting" commodity costs when priced in Bitcoin.

Such a thing might contain the following:

"When I first introduced the 5-BTC physical bitcoin, it made a lot of sense, because it had a face value of something like fifteen bucks, and the premium on the coin was sensible relative to its face value.  Now that Bitcoins have appreciated so much in value, it seems ridiculous to have what's essentially an arcade token not much bigger than a quarter, made of common base metals, bearing a face value that makes it worth well over $60 US dollars."

[Snipes777]

Evidence of 2 things. Increased electronic payment through debit and credit cards and a minimal use of cash and the obvious pervasive inflation. Solution? Put your money into the hard assets and bitcoins. Then it has no effect