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PTSideshow
05-10-2006, 04:21 PM
The cost of pennies and nickles are fast approaching more to make them than what they represent. US Govt is thinking about stopping there use. That just great give every body a profit but the working stiff who gets stiffed again!!:rolleyes:

snowman
05-10-2006, 04:41 PM
pre 1982 pennies are worth more for their copper content than the actual face value.

i sorted mine, i dont know why, but i did.

-jacob

Evan
05-10-2006, 04:48 PM
July copper futures hit $3.68 per lb today. The two copper mines near this town only need about $1.00 per lb to break even. Somebody is getting rich.

Alistair Hosie
05-10-2006, 04:59 PM
michegan seems like a dream to me nowowooo it took me four days to hitch hike from saginaw I've come to look for America:DAlistair

Evan
05-10-2006, 05:27 PM
Check here:

http://www.coinflation.com/

PTSideshow
05-10-2006, 06:24 PM
Evan that's a great site. The talking heads on the tube didn't really say much about it other than what was wrong about the Gov. thinking of stop making them.:D

CCWKen
05-10-2006, 08:52 PM
For the first time in U.S. history, the cost of manufacturing both a penny and a nickel is more than the 1-cent and 5-cent values of the coins themselves. Skyrocketing metals prices are behind the increase, the U.S. Mint said in a letter to members of Congress last week.

The Mint estimates it will cost 1.23 cents per penny and 5.73 cents per nickel this fiscal year, which ends Sept. 30. The cost of producing a penny has risen 27% in the last year, while nickel manufacturing costs have risen 19%.

I didn't hear anything about them wanting to stop making them or changing the content. The mint will loose $45 Million with the extra costs but it's still making $685 Million in profit. :eek:

PTSideshow
05-10-2006, 09:01 PM
Ken, the local talking heads had it wrong on the news. When I was in College many years ago in Radio and TV talking heads 101 the Instructor on the First class told the number one and two rules in TV news. "If it bleeds it leads". And "Never let the truth get in the way of a good story" :D

level head
05-10-2006, 09:07 PM
that is quiet weired ,yesterday i was just thinking about that,the pennies could be worth more that the cost of them,about 3 months ago i told a guy about that and he told me that would never happen..
-so does this mean we should all go to the bank a get $1000 all in pennies ...

PTSideshow
05-10-2006, 09:10 PM
yep it does
:D

Steve Stube
05-11-2006, 02:16 AM
PTS,

That just great give every body a profit but the working stiff who gets stiffed again!!

What are you crying about, who do you think has the pennys.

PTSideshow
05-11-2006, 07:45 AM
Steve was refering to the stores and companies with out pennies or nickles the prices will all go up to the next dime not down LOL:D

TECHSHOP
05-11-2006, 07:05 PM
Maybe I should take my five gallon bucket of pennies to scrappy?

On the rounding up thing do you think retail will just change the $XX.99 to $XXI?

The military has not sent pennies OCONUS for more than a decade, maybe the penny will be history in the States soon. I don't think they will just make a smaller/thinner coin, do ya?

Evan
05-11-2006, 07:12 PM
How about copper colored plastic?

TECHSHOP
05-11-2006, 07:24 PM
Evan:

Most of the plastic down here is silver, gold, and platinum. I sure the banks will be just as happy to add copper cards to their bottom line.

Evan
05-11-2006, 07:48 PM
Heh, I was thinking more like poker chips or tokens. That is what it is after all.

[added]

Funny thing is that you are now in the position to trade in a handfull of metal worth $2.68 for a piece of paper worth $1.00 that cost $0.05 to make.

Doesn't sound like a good deal.

PTSideshow
05-12-2006, 07:51 AM
Techshop, The way the companies do things now they will probably charge nine cents to raise the price a penny and tell us how lucky we are that it only went up a dime.:D