4 ms·

Well, the history thinks differently, the penny has been "changed" 5 times in the last centure that's 20 years on average. And the last change happened in 1982

by awa 17y ago

Well, the history thinks differently, the penny has been "changed" 5 times in the last centure that's 20 years on average. And the last change happened in 1982 (28 years from now) well above the average time period and is the third longest survival period for a penny ever. http://en.wikipedia.org/wiki/Penny_%28United_States_coin%29#History_of_composition http://en.wikipedia.org/wiki/Penny_%28United_States_coin%29#...

hga 17y ago
You miss my point, I said "debase" not change. Except for the WWII save copper by using steel penny, it was 95% copper from 1864 to 1982, and I can't count the two previous changes as debasing it (pure copper to a 89% copper/11% nickle alloy was surely for durability, the change 7 years later might have been related to the Civil War at the time but strikes me as the only possible previous debasement).
- awa 17y ago
  Sigh.. and I thought somebody was wrong on the internetz... But reading the wikipedia article it seems they were trying to debase it in the 70s and went the wrong path and minted AL based coins which were rejected before making the actual change in 82.
- wmf 17y ago
  It's fiat money; it doesn't matter what's in it.
  - BearOfNH 17y ago
    You speak in contradictions. For example, a 1946-1964 Roosevelt dime has a face value of $.10 but a "melt value" of $1.2022 (today) according to http://www.coinflation.com/ http://www.coinflation.com/ The U.S. government may not like it but there is little they can do about someone melting down coinage, especially outside the country. (But don't do it -- silver coins are worth more than their melt value). Paper money is different, of course.
    - awa 17y ago
      Since you bring it up, Dhirubhai Ambani, who was a major Indian businessmen did something like this in his early career. http://en.wikipedia.org/wiki/Dhirubhai_Ambani#Life_in_Aden http://en.wikipedia.org/wiki/Dhirubhai_Ambani#Life_in_Aden
    - wmf 17y ago
      Speaking as a regular person and not a numismatic geek, I don't know anyone who will give me melt value for my coins, and I wouldn't think it was worth the trouble of sorting out the old ones anyway. Thus all pennies are worth one cent to me and it isn't possible to "debase" them.

by awa 17y ago

hga 17y ago

You miss my point, I said "debase" not change. Except for the WWII save copper by using steel penny, it was 95% copper from 1864 to 1982, and I can't count the two previous changes as debasing it (pure copper to a 89% copper/11% nickle alloy was surely for durability, the change 7 years later might have been related to the Civil War at the time but strikes me as the only possible previous debasement).

awa 17y ago
Sigh.. and I thought somebody was wrong on the internetz... But reading the wikipedia article it seems they were trying to debase it in the 70s and went the wrong path and minted AL based coins which were rejected before making the actual change in 82.
wmf 17y ago
It's fiat money; it doesn't matter what's in it.
- BearOfNH 17y ago
  You speak in contradictions. For example, a 1946-1964 Roosevelt dime has a face value of $.10 but a "melt value" of $1.2022 (today) according to http://www.coinflation.com/ http://www.coinflation.com/ The U.S. government may not like it but there is little they can do about someone melting down coinage, especially outside the country. (But don't do it -- silver coins are worth more than their melt value). Paper money is different, of course.
  - awa 17y ago
    Since you bring it up, Dhirubhai Ambani, who was a major Indian businessmen did something like this in his early career. http://en.wikipedia.org/wiki/Dhirubhai_Ambani#Life_in_Aden http://en.wikipedia.org/wiki/Dhirubhai_Ambani#Life_in_Aden
  - wmf 17y ago
    Speaking as a regular person and not a numismatic geek, I don't know anyone who will give me melt value for my coins, and I wouldn't think it was worth the trouble of sorting out the old ones anyway. Thus all pennies are worth one cent to me and it isn't possible to "debase" them.