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World coin collector's Blog

14 Jan 2021

Pennies should not be abolished

Coins | World coin collector

Keeping pennies in The United States is worth it. First of all, the debt started 24 years after zinc pennies were minted. Starting, in 1909 the penny was minted in lower figures than today. One problem is the mints are minting too many pennies. If they minted less pennies, they would be worth more and less cost for the national government. Like in 1931 to 1933 the coins were minted less of giving them more value. Second of all, Lincoln pennies save at least 100 lives a year according to ABC news. Also, in Canada The penny was steel starting in 1996 not 1982 a big difference. The Canadian dollar is also worth 78 cents in American money of the time of typing this essay. The American economy is very different because America had 16 percent as of 2020, however Canada had only 1.39% of the world GDP. Also, the most common prices end in .99 not .90 or.95. So, the price will be rounded up not down. Lets say you have a product being sold for 9.99 USD, If there are no pennies the business will not want to pay and extra cent for the product so they round the customer up because the US is a mixed market economy. Is 130 billion dollars, worth loosing 100 people? How would loosing 2,400 people in 24 years affect the economy? Depending on what the business does. If there are no pennies a customer will have to pay an extra 4 cents for every extra cent, that will add up a lot of money that the business does not deserve. If business increase income, then inflation will bring the dollar down. Also, the penny is an Icon of history because, 1 Lincoln, and 2 being the first coin minted at each state. That is disrespect to our nation. Why would the pennies from 1652 and later not be icons of American history? The 1792 Birch and Silver center cent were the first coins minted at Philadelphia. The silver center cent is the only penny in American history that contains silver in it. Also 1943 copper and bronze pennies are worth up to 1.7 million dollars according to heritage auctions. Also, the penny had 1/100 fraction which added something to look at and think of why it was put on there. Just think of the mintage of the 1793 wreath type large cent, Mintage 63,353. Think of the different edges on the 1792 there is the vine and bars edge, there is also the lettered edge, (ONE HUNDRED FOR A DOLLAR). The lettered edge is much rarer than the vine and bars edge. There is also a Strawberry leaf variety on the vine and bars edge with only 4 known to exist. Then there is the 1793 beaded border 1793. Then there is the head of 1794, 1795 and the Jefferson head in 1795. The 1794 starred reverse and groovy edges are the special differences on 1790s coins. In 1796 there were several different reverses like the reverse of 1794, 1795, 1797. Iron can be the new composition with a plating.

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11 Jan 2021

Canadian coins part 2.

| World coin collector

I found morefacts about Canadian coins. Fist silver nickels, 1900 had oval and round 0's, The next varieties are 1902, large broad H and it's more valuable counterpart the small narrow H. 1903 22 leaves and 21 leaves, the 22 leaves variety has a mintage of 1 million minted. Another variety was for 2 years in 1909 and 1910. The 2 variety is round leaves and pointed leaves. Modern non silver nickels. Next nickel nickels, the variety is a 1926 near 6 and far 6 like the 1997 nickel. In 1947 unlike the penny the nickel had the maple leaf and dot. The dot is the most valuable nickel from 1947. In 1951 the composition change from nickel to chromium and nickel, plated steel. The 1951 nickel also has a variety of a high relief and low relief coins. Then 1953 with and without strap, it was also in 1954 and again in 1955. For the penny, however the nickel had a no strap with near leaf and vise versa. The nickel composition was changed in 1955 back to the 1950 composition. Modern nickel key dates, 1966, 1970, 1991, 1997. Silver dimes Moving on to dimes, no varieties until 1909. The variety in 1909 is the Victorian leaves are similar to the 1902 to 1908 coins, The, broad leaves were dimes from 1910 to 1912. This is similar to a 1939 Jefferson reverse of 1938 or 1940. Then the rare 1913 small leaves compared to the large leaves, then of course the 1936 dot on the reverse. Just like with the penny the 1953 with and with out strap. There is also a more common 1956 dot that is not at all as hard to find. Non silver dime, then in 1968 the edge was changed from the Ottawa edge to the Philadelphia edge. Gold Moving on to interesting facts in some 1967 proof sets there is a five, dollar gold coin. The gold coins minted from Canada are the 5, dollar coins minted from 1912 to 1914. The 1914 only had 31,122 minted. For 10 gold dollar coins however, they were minted from 1908 to 1919. The rarest 10, dollar gold coin is the 1908H with a mintage of only 636. These gold coins were made of 90 percent gold. For some reason the 1912 to 1914 coins have more actual gold weight than other years for ten dollars. Bicentennial nickel the RCM also made a 1951 nickel to celebrate 200 years of the nickel in 1751. It was not a Canadian coin.

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