Controversial Coin Questions #2
Hello again, Everyone...
Upon requests to make this week's question more controversial, I decided on this theme: The Cent, a Troublemaker or a True friend? This seems to be a pretty hot topic lately with coins and currency because it takes more than one cent to make. My opinion is that the mint makes enough money off of other coins/mint sets that they shouldn't have to stop making the cent. Am I right that this could also cause market inflation for penny collectors? Post your answers, and I'll make a blog that says answer stats & percentages.
Thanks for reading,
copper coin collector
Comments
Big Nub Numismatics
Level 5
I really enjoy the cent, and think it should stay. I met a Canadian a few days ago who said that now all of their cents that are being left are gone, all hoarded. Keep it for the history and convenience
Well worn Copper
Level 5
There are probably more than enough cents in circulation right now that if the mint stopped production for a year or two it would not matter. I believe more and more pre-1982 copper cents are leaving circulation and being put aside by speculators and collectors, however. Probably in a few years all we'll find in our change will be shield reverse cents. I have to agree with Mike: you find more cents in your change than dollar coins, and that says it all.
Mike
Level 7
I love cents. Think of the whole picture. Jobs at the mint. Transports to banks stores need them. But if we find one that's rare it's great. The nickel has more copper in it silver coins have more copper in them. Collectors still like to roll. When my wife brought home a 1931 S in change I loved it. Look at the new Doubled dies 2018 that's rite coin world. Cents into the thousands. Sets are great yes I like them . It's part of this country's history. So Canada got rid of theres. There a socialist country. We're a Democracy. We don't do what other country's do. We do what we need to do. We're 23 billion in debt. That's what we should worry about. No one wants them send them to me in will be very happy. Thanks. This is the last blog I will answer on cents. I must of answered more than a hundred get rid of this that the dollar. I'm just tired of it . Mike.
"SUN"
Level 6
I don't believe getting rid of cent will cause inflation. Electronic transaction will still use the cent. I like to keep it. I believe when I find and pick up a cent. I get a cent worth of exercise.
It's Mokie
Level 6
The Cent is a coin that is more of a nuisance than a benefit to everday transactions. They usually end up immediately in a jar or in that little dish by the cash register. The value of a cent is certainly very low these days, There is a loss to the government with each cent minted. I would like to study the effect on the Canadian economy when they eliminated the Cent in 2013. Was their inflation? Did the Cent slowly fade away as they disappeared from piggy banks and regular banks throughout Canada? Or did they just disappear from the economy fairly quickly? Generally I am for the elimination of the Cent ( for the purpose of your poll) but I would want to see some answers to those and more questions before giving a definitive response.
Longstrider
Level 6
I feel the same way. The mint makes plenty of money at the bottom line. We love our pennies.. It's that simple. I don't care what Canada did or any other country. Thanks.