please update OP
My name is Henry Wallen and I am a staff writer at skewnews.com, a satire website.
Recently I wrote an political article entitled, "Penny and Nickel Coins to be Phased Out in 2013" which announced that pennies and nickels would be discontinued in January 2013. Most of our regular readers understood that it was fiction, but some people did not. The story went viral and has been viewed by several hundred thousand people.
The piece is not mean spirited, harmful or slanderous in any way, and skewnews.com carries a disclaimer stating that the website is not responsible for the accuracy of any work. However the editors and I agreed to come clean on this one.
For those people who were upset by the penny and nickel going away in January, you can be assured that this is not happening; the story is fiction and was written for entertainment value only.
If you have questions or comments, I encourage you to post them here, instead of on the original story page, as this format allows for a more interactive dialog.
Respectfully,
Henry Wallen
Topic: US Gov't Phasing out the PENNY and NICKEL in 2013 (Read 5420 times)
“We could not maintain the gold standard nor the silver standard. We could not maintain the copper standard, and now we cannot even maintain the zinc standard,”
--Dr. Ron Paul
A brief history of recent rumors of the death of the penny:
"US Gov't Phasing out the PENNY and NICKEL in2007 2008 2009 2010 2011 2012 2013."
"US Gov't Phasing out the PENNY and NICKEL in
this probably posted already...
*Update: While we are confident that it will not be long until the Treasury takes the penny out of circulation and at least debases the nickel, the author of this story has apparently issued a retraction to the story.
Our thanks to SD reader Mark for alerting us.
-Doc
*Update: While we are confident that it will not be long until the Treasury takes the penny out of circulation and at least debases the nickel, the author of this story has apparently issued a retraction to the story.
Our thanks to SD reader Mark for alerting us.
-Doc
AHA! CANADA DID IT BEFORE YOU (and others before us i know just let me have my fun) AND NOW THE US FINALLY DECIDES TO
We phase out our penny, A year later US starts to phase out Nickels and Pennys
We phase out our penny, A year later US starts to phase out Nickels and Pennys
oh the story has been retracted. lol
US govt going to phase out the penny and nickel in 2013 http://www.silverdoctors.com/penny-and-nickel-coins-to-be-phased-out-in-2013/
Stack pennies and nickels?
hmm
Stack pennies and nickels?
hmm
that's crazy. pennies and nickels are life savers and save people all kinds of money. the government is simply stupid, as usual.
+1
I have a few of the BTC10 1oz rounds & I would love to add a couple BTC5 1/2oz rounds if they were available
I have a few of the BTC10 1oz rounds & I would love to add a couple BTC5 1/2oz rounds if they were available
I'm working on them.
Meanwhile the 2012 10 BTC rounds are coming to a close - I'm almost out of them, and am not sure if I will do another run of 10 BTC.
Of the plain silver one, I am down to around 20 left. Of the gold plated one, 60-ish.
From the article:
*Update: While we are confident that it will not be long until the Treasury takes the penny out of circulation and at least debases the nickel, the author of this story has apparently issued a retraction to the story.
Our thanks to SD reader Mark for alerting us.
-Doc
Quote
*Update: While we are confident that it will not be long until the Treasury takes the penny out of circulation and at least debases the nickel, the author of this story has apparently issued a retraction to the story.
Our thanks to SD reader Mark for alerting us.
-Doc
Evidence of 2 things. Increased electronic payment through debit and credit cards and a minimal use of cash and the obvious pervasive inflation. Solution? Put your money into the hard assets and bitcoins. Then it has no effect
Since I am considering doing my next 5 BTC coin in .999 fine silver instead of a nickel-plated car wash token, I've been thinking that I'd like to issue a tongue-in-cheek press release of how I'm "forced" to use a more expensive metal for my 5BTC coin due to "plummeting" commodity costs when priced in Bitcoin.
Such a thing might contain the following:
"When I first introduced the 5-BTC physical bitcoin, it made a lot of sense, because it had a face value of something like fifteen bucks, and the premium on the coin was sensible relative to its face value. Now that Bitcoins have appreciated so much in value, it seems ridiculous to have what's essentially an arcade token not much bigger than a quarter, made of common base metals, bearing a face value that makes it worth well over $60 US dollars."
Such a thing might contain the following:
"When I first introduced the 5-BTC physical bitcoin, it made a lot of sense, because it had a face value of something like fifteen bucks, and the premium on the coin was sensible relative to its face value. Now that Bitcoins have appreciated so much in value, it seems ridiculous to have what's essentially an arcade token not much bigger than a quarter, made of common base metals, bearing a face value that makes it worth well over $60 US dollars."
http://www.survivalblog.com/2012/12/debasement-is-still-inevitable-another-year-for-the-real-cupronickel-nickel.html
The above article has some more links on the topic.
The above article has some more links on the topic.
Good, good...
I can't wait till you guys discover gold scraping using hazardous chemicals.
I can't wait till you guys discover gold scraping using hazardous chemicals.
picked up $100 worth of nickels today at the bank when I cashed a check, the people looked at me like I was insaaaaaane
I'm doing this too on a slightly smaller scale. With every paycheck, I'm taking out $20 in mint-rolled nickels and putting them aside.
You guys do know it's illegal to melt these coins, right?
Many drugs are illegal too. People still do drugs.
Quote
The vast majority of users apparently are content with the existing coin denominations, including the one-cent coin.
This is what I don't get. The penny is, for all intents and purposes, useless. The only machines they interact with are those designed to getting rid of them. Even if you collected all the pennies you've ever come into contact with you couldn't buy a Happy Meal. And if you really wanted precision, why not go for 1/10 of a cent?Are you saying that no one ever comes into contact with more than 300 - 400 pennies during his/her lifetime?
I was shocked as well! I've actually purchased happy meals with pennies!
Like I'm sayin'.
Quote
The vast majority of users apparently are content with the existing coin denominations, including the one-cent coin.
This is what I don't get. The penny is, for all intents and purposes, useless. The only machines they interact with are those designed to getting rid of them. Even if you collected all the pennies you've ever come into contact with you couldn't buy a Happy Meal. And if you really wanted precision, why not go for 1/10 of a cent?Are you saying that no one ever comes into contact with more than 300 - 400 pennies during his/her lifetime?
Quote
The vast majority of users apparently are content with the existing coin denominations, including the one-cent coin.
This is what I don't get. The penny is, for all intents and purposes, useless. The only machines they interact with are those designed to getting rid of them. Even if you collected all the pennies you've ever come into contact with you couldn't buy a Happy Meal. And if you really wanted precision, why not go for 1/10 of a cent? 
even though the news was fake it seems it still is a good investment to hoard pre-1982 pennies (95% copper 5% zinc)...
Appears to be a HOAX that went viral.
US govt going to phase out the penny and nickel in 2013 http://www.silverdoctors.com/penny-and-nickel-coins-to-be-phased-out-in-2013/
Stack pennies and nickels?
hmm
Stack pennies and nickels?
hmm
http://www.sutori.com/phpbb/viewtopic.php?f=81&t=1719&p=2843#p2843
Appears to be a HOAX that went viral.
http://www.usmint.gov/faqs/circulating_coins
tldr; the Treasury Department has no plans now to cease production of the penny
So if you wen't out and bought $100 worth of nickels and the teller looked at you like you were insane. It's because you were insane
http://www.usmint.gov/faqs/circulating_coins
Quote
Are there any plans to remove the one-cent coin (more popularly known as "the "penny) from circulation?
We occasionally hear from people who believe that the Mint should stop producing one-cent coins and remove them from circulation. You may be interested to know that the penny is the most widely used denomination currently in circulation. There was a study conducted in 1976 of this and other suggestions regarding our coinage system. However, the idea of eliminating the penny received strong objections from an overwhelming majority of State revenue collection departments, retail firms, and commercial banks. Other objections voiced in later studies concerned the inflationary impact of such a proposal on prices and possible difficulties on collecting sales taxes.
It has not been confirmed that the penny has outlived its usefulness. Neither business nor the public as a whole has pressured for changes in the coin denominations in circulation today. In addition, our coin and currency system is among the most trusted in the world. The vast majority of users apparently are content with the existing coin denominations, including the one-cent coin. As a result, the Treasury Department has no plans now to cease production of the penny. In addition, such a change to the United States monetary system could not be done without prior Congressional authorization. If directed to do so by legislation enacted by the Congress and signed by the President, the Treasury Department would again study phasing out the penny. Since the demand exists and the Federal Reserve Banks require inventories to meet the demand, the United States Mint is committed to producing the penny.
We occasionally hear from people who believe that the Mint should stop producing one-cent coins and remove them from circulation. You may be interested to know that the penny is the most widely used denomination currently in circulation. There was a study conducted in 1976 of this and other suggestions regarding our coinage system. However, the idea of eliminating the penny received strong objections from an overwhelming majority of State revenue collection departments, retail firms, and commercial banks. Other objections voiced in later studies concerned the inflationary impact of such a proposal on prices and possible difficulties on collecting sales taxes.
It has not been confirmed that the penny has outlived its usefulness. Neither business nor the public as a whole has pressured for changes in the coin denominations in circulation today. In addition, our coin and currency system is among the most trusted in the world. The vast majority of users apparently are content with the existing coin denominations, including the one-cent coin. As a result, the Treasury Department has no plans now to cease production of the penny. In addition, such a change to the United States monetary system could not be done without prior Congressional authorization. If directed to do so by legislation enacted by the Congress and signed by the President, the Treasury Department would again study phasing out the penny. Since the demand exists and the Federal Reserve Banks require inventories to meet the demand, the United States Mint is committed to producing the penny.
tldr; the Treasury Department has no plans now to cease production of the penny
So if you wen't out and bought $100 worth of nickels and the teller looked at you like you were insane. It's because you were insane
If this doesn't wake people up I don't know what will
You guys do know it's illegal to melt these coins, right?
It IS illegal, until they take them out of circulation, then whoever has the most, wins.
You guys do know it's illegal to melt these coins, right?
I have been stacking pre 82 pennies for years, that is the way to go in my opinion.
Currently:
pre 82 pennies have a metal value of =$0.0238623
nickels have a metal value of = $0.0517926
http://www.coinflation.com/
So you more than double your investment with the penny, not so much with the nickel.
The downside is that you have to sort the pennies. A lot of people hand sort, but if you want to get serious about sorting you can grab one of these:
http://www.pennysorter.com/
I usually go to the bank and grab $100 worth of pennies at a time, sort them, and return the 83 and older pennies into the change machine at the bank, with a zero processing fee. I love my bank! 1 out of every 4 or so boxes I find an Indian head penny, and a few handful of Wheaties too, and I can sell those on ebay for added profit.
Ill also do this with dime and quarter boxes treasure hunting silver. I usually find 1 silver coin per box in the dimes and quarters. You have to hand sort those though, but it is fast work, looking at the edges of the coins for lines.
Currently:
pre 82 pennies have a metal value of =$0.0238623
nickels have a metal value of = $0.0517926
http://www.coinflation.com/
So you more than double your investment with the penny, not so much with the nickel.
The downside is that you have to sort the pennies. A lot of people hand sort, but if you want to get serious about sorting you can grab one of these:
http://www.pennysorter.com/
I usually go to the bank and grab $100 worth of pennies at a time, sort them, and return the 83 and older pennies into the change machine at the bank, with a zero processing fee. I love my bank! 1 out of every 4 or so boxes I find an Indian head penny, and a few handful of Wheaties too, and I can sell those on ebay for added profit.
Ill also do this with dime and quarter boxes treasure hunting silver. I usually find 1 silver coin per box in the dimes and quarters. You have to hand sort those though, but it is fast work, looking at the edges of the coins for lines.
http://www.coinflation.com/coins/basemetal_coin_calculator.html
I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.
Copper pennies are worth two pennies.
I'm talking about melt value of course.
I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.
Copper pennies are worth two pennies.
I'm talking about melt value of course.
Is there a certain year for better (more %) copper pennies ?
1982 and earlier.
thanks, ill look into it
http://www.coinflation.com/coins/basemetal_coin_calculator.html
I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.
Copper pennies are worth two pennies.
I'm talking about melt value of course.
I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.
Copper pennies are worth two pennies.
I'm talking about melt value of course.
Is there a certain year for better (more %) copper pennies ?
1982 and earlier.
http://www.coinflation.com/coins/basemetal_coin_calculator.html
I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.
Copper pennies are worth two pennies.
I'm talking about melt value of course.
I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.
Copper pennies are worth two pennies.
I'm talking about melt value of course.
Is there a certain year for better (more %) copper pennies ?
http://www.coinflation.com/coins/basemetal_coin_calculator.html
I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.
Copper pennies are worth two pennies.
I'm talking about melt value of course.
I use this website. Nickels recently were worth about $0.08 if I recall correctly, but it looks like they've gone down to what they are actually supposed to be. I save nickels anyway simply because they aren't clad junk.
Copper pennies are worth two pennies.
I'm talking about melt value of course.
I'm still curious why our nickel today (same materials) could buy much more in the 40's, 50's, 60's, etc.
picked up $100 worth of nickels today at the bank when I cashed a check, the people looked at me like I was insaaaaaane
Good job buddy!
I'm thinking I might get a few stacks too.
Just imagine the same nickel (composition) could buy a candy or ice cream in 1946 through the 1950's (i'm estimating based on searching around the internet).
With that in mind I'm curious to know if Nickels are undervalued in terms of its intrinsic content.
hmmm good question,
what you think you think about picking up 35% Silver War Nickels over the nickels now a days? which ones would you pick up more of?
I'm thinking of just getting the 75% copper and 25% nickel Nickels.
You don't have to sort them and they appear to be the same nickels for the last 70 or 80 years, perhaps more.
for sure, I suppose ill do the same and maybe get some of those 35% ones. Lol the bank is going to think im nuts getting 100$ of nickels every week
picked up $100 worth of nickels today at the bank when I cashed a check, the people looked at me like I was insaaaaaane
Good job buddy!
I'm thinking I might get a few stacks too.
Just imagine the same nickel (composition) could buy a candy or ice cream in 1946 through the 1950's (i'm estimating based on searching around the internet).
With that in mind I'm curious to know if Nickels are undervalued in terms of its intrinsic content.
hmmm good question,
what you think you think about picking up 35% Silver War Nickels over the nickels now a days? which ones would you pick up more of?
I'm thinking of just getting the 75% copper and 25% nickel Nickels.
You don't have to sort them and they appear to be the same nickels for the last 70 or 80 years, perhaps more.
picked up $100 worth of nickels today at the bank when I cashed a check, the people looked at me like I was insaaaaaane
Good job buddy!
I'm thinking I might get a few stacks too.
Just imagine the same nickel (composition) could buy a candy or ice cream in 1946 through the 1950's (i'm estimating based on searching around the internet).
With that in mind I'm curious to know if Nickels are undervalued in terms of its intrinsic content.
hmmm good question,
what you think you think about picking up 35% Silver War Nickels over the nickels now a days? which ones would you pick up more of?
picked up $100 worth of nickels today at the bank when I cashed a check, the people looked at me like I was insaaaaaane
Good job buddy!
I'm thinking I might get a few stacks too.
Just imagine the same nickel (composition) could buy a candy or ice cream in 1946 through the 1950's (i'm estimating based on searching around the internet).
With that in mind I'm curious to know if Nickels are undervalued in terms of its intrinsic content.
picked up $100 worth of nickels today at the bank when I cashed a check, the people looked at me like I was insaaaaaane
It's pretty simple. The government has printed so much money that the penny is worthless.
I for one would love to see the US eliminate the penny and one dollar bill in favor of dollar coins.
I for one would love to see the US eliminate the penny and one dollar bill in favor of dollar coins.
It's hard to imagine these coins being phased out, even though their cost of circulation and creation outweighs their value. Maybe soon we will move to a complete digital monetary system and there will be no need for any of them.
Everything will just be rounded up, or down, and seeing as most things are like 4.99+ tax $5.06 rounded up, the government will probably just keep the other 4 cents as taxes, and push a little bit into the products that land at $4.94 they would make a nice profit id imagine.
The US should kill off the penny...manufacturing one cost more than its value.
I thought they phased out the penny in 1982, and everything else except the nickel in 1965. 
The nickel is the only real coin remaining!
The nickel is the only real coin remaining!
I thought it was 1984 for pennies.
I stand corrected. This is more credible information: http://www.forbes.com/sites/mickeymeece/2012/03/31/penny-runs-out-of-luck-in-canada/
Yep, have to be careful about believing the stuff you read on the internet.
I stand corrected. This is more credible information: http://www.forbes.com/sites/mickeymeece/2012/03/31/penny-runs-out-of-luck-in-canada/
US govt going to phase out the penny and nickel in 2013 http://www.silverdoctors.com/penny-and-nickel-coins-to-be-phased-out-in-2013/
Stack pennies and nickels?
hmm
Stack pennies and nickels?
hmm
http://www.sutori.com/phpbb/viewtopic.php?f=81&t=1719&p=2843#p2843
You need more proof than that.
Just because someone says "fake" doesn't make it fake. Inflation is real and alive today.
LOL how did you find that? Oh well, I'm sure the government will do something else that will speed up the inevitable dollar crash, just need to wait and see what happens with the negotiations.
US govt going to phase out the penny and nickel in 2013 http://www.silverdoctors.com/penny-and-nickel-coins-to-be-phased-out-in-2013/
Stack pennies and nickels?
hmm
Stack pennies and nickels?
hmm
http://www.sutori.com/phpbb/viewtopic.php?f=81&t=1719&p=2843#p2843
You can be assured with this happening the U.S dollar is going to collapse fast and hard, still can't say when but the time to wait has shortened considerably now, the federal reserve are getting rid of the last obstacles in the way of them printing as much as they want.
Yeah, even cheap coins like the dime and nickel cause them problems because they can't be mass produced easily enough for the speed they're looking for as the article says it's much cheaper to just print lots of paper than mint coins.
Yeah, even cheap coins like the dime and nickel cause them problems because they can't be mass produced easily enough for the speed they're looking for
as the article says it's much cheaper to just print lots of paper than mint coins.
Time to restart my coin collection?
US govt going to phase out the penny and nickel in 2013 http://www.silverdoctors.com/penny-and-nickel-coins-to-be-phased-out-in-2013/
Stack pennies and nickels?
hmm
Stack pennies and nickels?
hmm
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