canadian pennies
By cwp1989
@cwp1989 (23)
United States
March 31, 2012 10:33pm CST
ok so canada is going to stop making pennies very soon because it cost more then a penny to make a penny. i saw this on the news today. does this mean that we should now save canadian pennies because they may be worth more in the future? and do you think that the usa will also stop making pennies?
1 person likes this
3 responses
@owlwings (43910)
• Cambridge, England
1 Apr 12
By all means save a few good bright pennies for posterity so that your grandkids can see what a penny looked like (and laugh at its minute value ... make sure that you tell them what a penny could buy back in the day!)
Although it 'costs more than a penny to make a penny', it's unlikely that the scrap metal value of a penny will be worth that much. In recent years, most countries which still use 'copper' coinage (which was, in any case, technically a bronze) began to mint them from copper-coated steel. We still have 1p and 2p coins in the UK and there has been some talk of discontinuing these but, so far, there is no likelihood that it will happen any time soon.
@TeamCholent (2832)
• United States
1 Apr 12
I don't think these will be worth anything worth saving for. Even though they stopping to make them there are millions of them out there. There are a lot of better investments out there. The US should stop making ours as we are wasting a lot of copper in the process. The US is trying to drive more $1 coins and for us to stop using notes.
@SomeCowgirl (32191)
• United States
1 Apr 12
Well I don't know if they will or not but it will make things a bit more complicated, and I imagine somethings will go up, either tax or the product itself to compensate for the loss of the penny.
Not sure how much it does cost to make a penny either Canadian or American, but if they do I'll be sure to save a few.