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Offline SueTopic starter
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« on: January 22, 2007, 11:17:12 pm »
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Coin Shortage Could Turn Pennies to Nickels
NewsMax.com Wires

Talk about pennies from heaven.

A potential shortage of coins in the United States could mean all those pennies in your piggy bank could be worth five times their current value soon, says an economist at the Federal Reserve Bank of Chicago.

. . rebase" the penny by making it worth five cents rather than one cent. Doing so would increase the amount of five-cent coins in circulation and do away with the almost worthless one cent coin.

"History shows that when coins are worth melting, they disappear," Velde wrote.

"Rebasing the penny would ... debase the five-cent piece and put it safely away from its melting point," he added.

Raw material prices in general have skyrocketed in the last five years, sending copper prices to record highs of $4.16 a pound in May. Copper pennies number 154 to a pound. Prices have since come down from that peak but could still trek higher, Velde said . . . .
Posted on: January 22, 2007, 10:19:35 PM

Are Canadian pennies made up with the same composition as US ones or are they still all copper?

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Offline outback
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« Reply #1 on: January 22, 2007, 11:20:04 pm »
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they be Zincers

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Offline dr.dtector
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« Reply #2 on: January 23, 2007, 04:34:41 am »
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THANX FOR THE DELICIOUS INFO SUE~O U A MARGARITTA

PENNIES FROM HEAVEN
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« Reply #3 on: January 23, 2007, 07:03:18 am »
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thanks again Sue...Smiley

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« Reply #4 on: January 23, 2007, 07:48:25 am »
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Very interesting article.  Thanks.

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« Reply #5 on: January 24, 2007, 10:01:11 am »
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Very interesting post there little Suzy, Wink  this could be pretty BIG, pretty soon. People could make out pretty well if we all start grabbing every single copper penny we see and put them aside to cash in as #2 copper, at these quicky rising prices. I've been hoarding as many of them as I could afford in the last few years and I will not have ever lost out on the deal on these little copper rounds. What we see here SS, is those pennys of mine have just about tripled so far, and I'm still searching for them every opportunity I get.

For those that like 2 read between the lines sweetie girl, you've posted some very powerful knowledge in here. I hope a lot of people put some of it to good use towards their pockets getting fatter.   Cool

LarryB

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« Reply #6 on: January 24, 2007, 04:59:34 pm »
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Very heavy fine in the States if you are caught you might find yourself 10grand poorer has for Canada not to sure on the fine if any

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Offline dr.dtector
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« Reply #7 on: January 24, 2007, 05:09:27 pm »
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Quote:Posted by LarryB
Very interesting post there little Suzy, Wink   you've posted some very powerful knowledge in here. I hope a lot of people put some of it to good use towards their pockets getting fatter.   Cool

LarryB


AINT SHE THE SWEETEST??

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« Reply #8 on: January 28, 2007, 04:17:27 pm »
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Wow, thanks for the awesome article!

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-"It is always the mistake of man to confuse insanity with genius"
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« Reply #9 on: January 28, 2007, 10:44:32 pm »
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GREAT ARTICLE Grin

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