Gresham's Law

The materials required to produce pennies (zinc and copper) are now worth 2 cents per penny, and the materials required to produce nickels (copper and nickel alloy) are now worth 9 cents per nickel. Inflation is really starting to kick in, so start hoarding change.

After the collapse it won’t be worth anything and it will have to build up value as money again. So, I’m afraid there’s little point in hoarding it.

Esuric is saying we could melt down the 1 and 5 cent coins for 2 and 9 cents worth of metal.

This has been true with British pennies for a while, which is why it is technically a crime to mishandle anything with the Queen’s head on it. Though previously only profitable for very large quantities, and thereby more likely to get caught with, it definitely will be more likely to be practiced once inlfation really kicks in.

lol burn money to make money :smiley: love it.

I never thought coins would be so useful. In the mainstream, they seem burdensome to carry and exchange with. However, I actually find coins very useful.

Hm, why no entrepreneur has yet though of this massive source of wealth than? There must be something off here.

A New Law Makes it Illegal to Melt Pennies and Nickles.

I should have known :slight_smile:

sigh

I have a feeling that pennies might become the medium of exchange for most transactions in the medium term, if inflation gets really out of hand.

When serious price inflation starts to kick in, they will surely stop issuing the penny. The nickel will follow shortly. I wouldn’t waste my time hoarding this stuff.

This has probably been brought up before, but the subculture of change-hoarders has been growing for years

http://realcent.forumco.com/

http://www.coinflation.com/

How much does it cost to melt down and reform those metals into something sellable at an equal price to that?