[talkgold]

This gives a whole new meaning to that old saying, "A penny saved is a penny earned." Kids, start saving those pennies now because an economist at the Federal Reserve Bank of Chicago says a potential shortage of coins in the United States could mean the penny will have the same worth as a nickel. That's some investment return!
We're not talking Bill Gates rich. But if you want to build real personal wealth, just do this one thing.

Reuters reports that the idea for changing the penny's valuation is due to sharply rising prices of certain metals, including copper and nickel. Because of this, the face value of a penny and a nickel are actually worth less than the material from which they are made. That increases the risk that speculators will melt the coins and sell the copper and nickel for a profit. That very risk prompted the U.S. Mint to issue new regulations in December that limit the melting and exporting of coins.

The richest people share one Zodiac sign more than any other. Click to find out what it is!

Now Francois Velde, senior economist at the Chicago Fed, says in a recent research note these prohibitions by the Mint are unlikely to deter serious speculators who already have piled up the coinage. He claims the best solution is to "rebase" the penny, changing its value from one cent to five cents. This increases the amount of five-cent coins in circulation since both the penny and the nickel would have the same value and eliminates the almost worthless one cent coin. "History shows that when coins are worth melting, they disappear," Velde wrote in his research note. "Rebasing the penny would...debase the five-cent piece and put it safely away from its melting point," he added.

[Etrader57]

That is very interesting!

Maybe I shouldn't throw away all the extra change I get every day?

[SevenFigureIncomes]

Originally Posted by talkgold

This gives a whole new meaning to that old saying, "A penny saved is a penny earned." Kids, start saving those pennies now because an economist at the Federal Reserve Bank of Chicago says a potential shortage of coins in the United States could mean the penny will have the same worth as a nickel. That's some investment return!
We're not talking Bill Gates rich. But if you want to build real personal wealth, just do this one thing.

Reuters reports that the idea for changing the penny's valuation is due to sharply rising prices of certain metals, including copper and nickel. Because of this, the face value of a penny and a nickel are actually worth less than the material from which they are made. That increases the risk that speculators will melt the coins and sell the copper and nickel for a profit. That very risk prompted the U.S. Mint to issue new regulations in December that limit the melting and exporting of coins.

The richest people share one Zodiac sign more than any other. Click to find out what it is!

Now Francois Velde, senior economist at the Chicago Fed, says in a recent research note these prohibitions by the Mint are unlikely to deter serious speculators who already have piled up the coinage. He claims the best solution is to "rebase" the penny, changing its value from one cent to five cents. This increases the amount of five-cent coins in circulation since both the penny and the nickel would have the same value and eliminates the almost worthless one cent coin. "History shows that when coins are worth melting, they disappear," Velde wrote in his research note. "Rebasing the penny would...debase the five-cent piece and put it safely away from its melting point," he added.

What zodiac sign has the richest people?

[talkgold]

http://news.yahoo.com/s/nm/20070122/..._shortage_dc_1

More info

[AlleyCatNews]

next thing you know their will be an HYIP buying up all the pennies for .02 cents and selling them for .04.

LOL

[talkgold]

I wonder how many pennies I could stockpile in a 5X6 Closet. May be worth it.

[pluggy]

Maybe its time to abandon your penny ?, its worth around the same as our half penny, and we kicked that into touch decades ago.........

[Naysayer231]

Originally Posted by Etrader57

Maybe I shouldn't throw away all the extra change I get every day?

I wouldn't get excited, this is history being retold as news. As mentioned the above referenced article, pennies have been made of zinc with a copper coating since 1982. Only the full copper pennies have any value.

Trying to collect pennies more than 25 years old presents a challenge of its own.

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[ahddm]

LOl this owns I have a piggy bank with like 50 dollars worth of pennies if they do this ill be rich muwahahaha