$ nevermind $

Published: October 29, 2006, 3:33 pm

There has been many years of debate over what to do with the lowly penny.

As our money was debased through excessive printing, with nothing to back it other than guns, the copper content of the penny became more valuable than the face value. People worried that all prices would be rounded up to the next nickel. Merchants felt cents were too bulky for their trouble.

Our ~~clue~~ ... *cough* fearless leaders switched from copper to zinc. Well, the debate need rage no more because now even the cheapie zinc cents are worth more at the smelters than at the bank. People who can smell a trend will no longer spend cent coins. My guess is that a market for "bags" of pennies (based on year minted) will emerge like the market for "bags" of pre-1965 Ag coins.

(Locked)

Entry #19

Comments

Rick G - Oct 29, 2006, 4:28 pm

time*treat,

Good point about the penny. I've been saving the copper ones for years and of course all pure silver coins. My son got a '37 mercury dime in change yesterday. Rare occurrence these days. Instead of tossing the pennies into the "need a penny" tray maybe it would be smarter to keep them.

time*treat - Oct 30, 2006, 10:50 am

A '37 mercury dime!! That is SUPER SWEET! That's got to be worth at least a few bucks no matter what its condition!! Don't see too many Winged Liberty heads these days. Makes me wonder if the cashier knew what it was :^)

Rick G - Oct 30, 2006, 1:06 pm

time*treat,

I forget the PCGS designations, but it's actually in very good condition. The date and lettering is totally intact and there's even some of the fine lines still visible. I don't think the cashier knew what it was because he also got a Polish copper coin about the size of a penny in his change. I told him to go shopping there more often!

$ nevermind $

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