pennies

chadwick

http://youtu.be/2q2vmwHNoDU
here i have found that the canadian penny is being phased out of circulation. they say it costs 1.6 cents to make on single penny. they are not copper any more either. many people have been hoarding pennies & even melting them down to sell to a scrap metals buyer. some believe copper is the next silver. also a 1964, or earlier u.s. quarter or dime is 90% silver

i been watching youtube videos on metal detecting & the whole hunting for old silver coins & gold & things. looks pretty neat.

1857 the penny was 88% copper & 12% nickel. which is weird to me...nickel is 5 cents & a metal.

so how are things going in Canada with the phazing out of the penny?

Specifications

Composition:
Copper-Plated Zinc: 2.5% Cu, Balance Zn

Weight:
2.500 g

Diameter:
0.750 in., 19.05 mm

Thickness:
1.55 mm

Edge:
Plain

chadwick

http://www.usmint.gov/
u.s. mint

brianlux

It's a wonder we still have the penny here in the US. I think the only reason it still exists is because we are adverse to change and the penny has been around a long, long time.

Beside, who would say, "A nickle for your thoughts?"

guitar59

Don`t really notice it on non-cash transactions, but when you pay cash retailers just round the amount. Mostly it means every cash purchase I make costs me an extra 2 or 3 cents.

I am a little worried about not having enough pennies to use in the penny flattening machines...my kids love those!

hedonist

brianlux wrote:

Beside, who would say, "A nickle for your thoughts?"

Inflation!

I haven't actually used pennies in ages - I take the ones I get back in change and put them into the piggy bank I've had as a kid, then turn them in with other coins at those change-machine things.

They should phase out production if money's being lost in doing so; what's the point?

lukin2006

Haven't missed the penny since it was phased out ... I've been both rounded up and round down ... I suspect the large retailers will get their accountants working on pricing so when tax is factored in it'll always round up ... when using debit or credit it makes no difference.

Hugh Freaking Dillon

hasn't bothered me.

chadwick

i like the penny myself.

peacefrompaul

I hate them and I hate giving them back as change

JonnyPistachio

at the end of about a year, I end up with a big jug of pennies, some nickle and a few dimes. I take them and dump 'em in the counter and usually get about $67.17, and since it was unexpected, I often drink it all away!

peacefrompaul

JonnyPistachio wrote:

at the end of about a year, I end up with a big jug of pennies, some nickle and a few dimes. I take them and dump 'em in the counter and usually get about $67.17, and since it was unexpected, I often drink it all away!

:fp:

JonnyPistachio

peacefrompaul wrote:

JonnyPistachio wrote:

at the end of about a year, I end up with a big jug of pennies, some nickle and a few dimes. I take them and dump 'em in the counter and usually get about $67.17, and since it was unexpected, I often drink it all away!

:fp:

I meant the counting machine, not the counter-top.
The local supermarket has this counting machine that takes like 8-10 cents off every dollar. It sgreat too, because you pour all your change in there and its loud as fuck and everyone is like "look at that cheap ass getting his beer money."

81

JonnyPistachio wrote:

at the end of about a year, I end up with a big jug of pennies, some nickle and a few dimes. I take them and dump 'em in the counter and usually get about $67.17, and since it was unexpected, I often drink it all away!

we do that two, but it also contains quite a few quarters. ussally end up with 150+ jar is just about full too. :think:

81

JonnyPistachio wrote:

peacefrompaul wrote:

JonnyPistachio wrote:

at the end of about a year, I end up with a big jug of pennies, some nickle and a few dimes. I take them and dump 'em in the counter and usually get about $67.17, and since it was unexpected, I often drink it all away!

:fp:

I meant the counting machine, not the counter-top.
The local supermarket has this counting machine that takes like 8-10 cents off every dollar. It sgreat too, because you pour all your change in there and its loud as fuck and everyone is like "look at that cheap ass getting his beer money."

store credit, keep it all. or go to teh bank and keep it all :fp:

know1

They should phase out paper and coin money completely.

peacefrompaul

JonnyPistachio wrote:

peacefrompaul wrote:

JonnyPistachio wrote:

at the end of about a year, I end up with a big jug of pennies, some nickle and a few dimes. I take them and dump 'em in the counter and usually get about $67.17, and since it was unexpected, I often drink it all away!

:fp:

I meant the counting machine, not the counter-top.
The local supermarket has this counting machine that takes like 8-10 cents off every dollar. It sgreat too, because you pour all your change in there and its loud as fuck and everyone is like "look at that cheap ass getting his beer money."

Good

That's good news.

I bring mine to a bank... I get the full amount

81

know1 wrote:

They should phase out paper and coin money completely.

that will never happen....

peacefrompaul

81 wrote:

know1 wrote:

They should phase out paper and coin money completely.

that will never happen....

JonnyPistachio

peacefrompaul wrote:

JonnyPistachio wrote:

I meant the counting machine, not the counter-top.
The local supermarket has this counting machine that takes like 8-10 cents off every dollar. It sgreat too, because you pour all your change in there and its loud as fuck and everyone is like "look at that cheap ass getting his beer money."

Good

That's good news.

I bring mine to a bank... I get the full amount

I suppose that would be smarter.

hedonist

peacefrompaul wrote:

Good

That's good news.

I bring mine to a bank... I get the full amount

Does the bank still make you put the coins in those paper rolls?

That'd be enough for me to take the slight loss at the coin-counting machine (or go for the store credit :P )

peacefrompaul

hedonist wrote:

peacefrompaul wrote:

Good

That's good news.

I bring mine to a bank... I get the full amount

Does the bank still make you put the coins in those paper rolls?

That'd be enough for me to take the slight loss at the coin-counting machine (or go for the store credit :P )

Nope! They have a coin counter