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Post by RickB on Dec 10, 2021 14:19:30 GMT -5
Better save your pennies now as the last of the cents produced by the US Mint will be phased out in 2022. They will produce 50,000 to put into proof sets in 2023. At the cash register they will round your cost up or down as needed. www.meettally.com/blog/news-penny-production-will-stop-in-2023-heres-why"After countless years of speculation on eliminating the penny, the time for its official end is near. On April 1, 2023, the penny’s production will officially end, leaving only those in circulation as remnants of an era when these copper discs had real spending power."
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Post by knave on Dec 10, 2021 14:32:21 GMT -5
Long overdue Imo
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Benathema
has rocks in the head
God chased me down and made sure I knew He was real June 20, 2022. I've been on a Divine Mission.
Member since November 2019
Posts: 703
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Post by Benathema on Dec 10, 2021 15:15:07 GMT -5
I approve, but am suspicious of the April Fool's date.
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Post by opalpyrexia on Dec 10, 2021 15:48:42 GMT -5
There is no announcement or press release to that effect on the U.S. Mint website.
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Post by knave on Dec 10, 2021 15:59:43 GMT -5
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Post by knave on Dec 10, 2021 16:13:36 GMT -5
Oh boy. Yep it’s not real.
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Post by RickB on Dec 10, 2021 16:16:10 GMT -5
I saw the news yesterday evening on one of the coin shows. I like coins, but I guess the penny has to go. The US purchases the zinc it's made out of fromChina so that money won't be going overseas. Since late 1982 the penny is just a copper plated zinc blank - a worthless copy to me. Looks like it probably is not factual, an April fools joke.
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electrocutus
spending too much on rocks
Member since October 2020
Posts: 331
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Post by electrocutus on Dec 10, 2021 16:36:29 GMT -5
I saw the news yesterday evening on one of the coin shows. I like coins, but I guess the penny has to go. The US purchases the zinc it's made out of fromChina so that money won't be going overseas. Since late 1982 the penny is just a copper plated zinc blank - a worthless copy to me. Looks like it probably is not factual, an April fools joke. They should do it. Here in Canada we did it several years ago and it's great. Added to the fact that the majority of people don't use cash as much anymore (especially because of Covid), not getting those coins sloshing around your pockets is great,
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LazerFlash
Cave Dweller
The more they over-think the plumbing, the easier it is to stop up the toilet.
Member since September 2021
Posts: 548
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Post by LazerFlash on Dec 10, 2021 18:17:55 GMT -5
LOL P.T. Barnum is laughing in his grave. In Grant's Tomb.
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Post by fernwood on Dec 11, 2021 7:19:28 GMT -5
This will never happen unless there is a law requiring sales tax to be rounded up or down. I often give customers who pay in cash 4 pennies as part of their change. Another possibility would be to require credit/debit cards and abolish currency. I do not see that happening anytime soon. Most businesses have to pay a surcharge to credit card companies who process their sales. My employer must pay 5% of all sales. They have a $10.00 minimum for credit/debit card purchases. Some other businesses I frequent have a 10% surcharge for all credit card transactions. I always pay cash there, as that is their preferred payment method.
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Post by knave on Dec 11, 2021 8:28:34 GMT -5
When the half penny was discontinued it’s value was equal to 14 cents today.
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Post by fernwood on Dec 11, 2021 8:31:46 GMT -5
When the half penny was discontinued it’s value was equal to 14 cents today. I have a couple of those I found in an ancestor's purse. They are treasurers to me.
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Post by RickB on Dec 11, 2021 11:30:02 GMT -5
When the half penny was discontinued it’s value was equal to 14 cents today. I have a couple of those I found in an ancestor's purse. They are treasurers to me. Like the half cents and the large cents Beth, both obsolete issues. Have over 50 of them that I've picked up through the years. Probably let the granddaughter have all that along with some other stuff. I think the penny will eventually be discontinued just like it was in Canada and a few other countries.
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quartzilla
Cave Dweller
Member since April 2020
Posts: 1,219
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Post by quartzilla on Dec 11, 2021 21:42:40 GMT -5
Well the penny gumball machines have been gone since the early 90’s I think. I probably have 30 lbs plus of pennies in various piggy banks lol.
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Post by knave on Dec 11, 2021 21:48:21 GMT -5
The article states cost is .02 per coin. I’m pretty sure it’s more than that!!
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Post by rockjunquie on Dec 11, 2021 22:53:32 GMT -5
I think the penny is on the way out. Too bad cause I enjoy dropping my pennies in the big penny jar. When the kids were younger, we used to have a guessing contest around Christmas. Closest guess wins the jar. They thought they were rich.
I think we will be a cashless society in my lifetime.
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Post by RickB on Dec 12, 2021 6:01:38 GMT -5
I think the penny is on the way out. Too bad cause I enjoy dropping my pennies in the big penny jar. When the kids were younger, we used to have a guessing contest around Christmas. Closest guess wins the jar. They thought they were rich. I think we will be a cashless society in my lifetime.
Paying off the national debt would take us way beyond cashless.
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