The loveable old Lincoln Cent is turning "100" ! HAPPY BIRTHDAY, ABE ! And, in typical government tradition, after 100 years of faithful service, they're going to give you a big party, and then SHOOT YOU AGAIN! Lets face it ABE, you're just not cost effective, S O O O O. . . YOU'RE OUT OF HERE! Never mind the fact that most Americans love you, and that your mere presence helps to control inflation, Uncle Sam says "you're just too expensive to keep on board"! Kinda sounds like "AGE Discrimination" doesn't it? Well, to me it just sounds like something else, something called BS! The Treasury Department expects everyone to just follow along and, if they all shake their heads "YES", so will everyone else. They want everyone to believe that 100 Lincoln cents cost $1.50 to produce. This simply is not true. If Lincolns were still made of copper, then it would cost more than a dollar to make 100 coins, but the truth is, that the aluminum in six beer cans cost more than the zinc in 100 cents. Also, there is less than ONE OUNCE of COPPER in 1500 cents! That's sort of like comparing gold plated to 24K gold.
If you consider the cost of making 25,000 pairs of one cent dies, the labor to strike 15 billion coins, the cost of facilities, machinery, and shipping, then I guess you can stretch that numbers to make it sound like whatever you want. But lets not forget that the Government takes advantage of all of the same business tax deductions that are entitled to any other business entity. Costs of facilities, equiptment depreciation, labor and benefits; all are business deductions. All branches of the government are run like separate business entities with budgets and profit margins. So, to realistically look at it, how can they lose money even if it did costs $1.50 to make 100 cents, when it only costs $1.06 to make a sheet of 18 / $100 bills? - or 18 / $50 bill? - etc. Bottom line is that it costs .06 to make a $1 or a $100 bill! . . .Not quite a bad profit margin!
If the one cent coin, and lets not forget the Jefferson Nickel, which still contains copper, are discontinued, that means that the Dime will be the lowest denomination U.S. coin. This means that EVERYTHING in our economy that costs as little .001c will automatically be "rolled" upward to the next available monetary unit, which is of course, 10c! This will instantly fuel upwards of 10% additional inflation. In the late 1970's and early 1980's, the Iranian Hostage Crisis and OPEC oil embargos, fueled an additional 12% inflation, and that cost the U.S. economy, and ultimately - YOU AND ME - MORE THAN 250 TRILLION DOLLARS in higher costs for imported oil, lost export revenues, business failures, home foreclosures, lack of job growth, lost salary increases, and overall higher costs of living for everyone for years to come! This is a tremendously important issue, and one that all informed Americans should be allowed to decide, in the voteing booth, not just by a bunch of "million dollar a year" polititions!
There are some other issues to be considered by eliminating cents and possibly nickels. As many as 20,000 jobs just from mining and zinc production, coin die production, coining, accounting, and distributing, etc., will be eliminated. That's about $1.5 Billion just in lost salaries, hospital benefits, retirement plans, no telling how many lost homes, disrupted college careers, and the general mayhem that this causes the entire community in lost business revenues and overall anxiety. Next, consider how many other jobs will be lost due to the inflation and ripple-effect that will surely follow.
B U T . . . I think (and hope) that our government is smart enough to realize all of these factors that surround the so-called demise of the Lincoln Cent. I believe that it is just another "scare tactic" that is being dumped on a lot of "gullable people" in an effort to impose some other type of "smoke and mirrors". If they were serious about discontinuing Lincoln Cents, why are they talking about all of these different commerative reverses? Just like Statehood Quarters, Hand Shake Nickels, Presidential Dollars, Silver Eagles, Special Proof Sets, etc., it's just another advertizing gimmick and it is aimed at the American Citizen. All of the specialty products sold by the U.S. Mint add up to a lot of profit. Maybe this thing is all just be one heck of a good "Ad-Campaign". If it is, what's next? - Jefferson Nickel Commerative reverses in 2014 for its 75th anniversary? W O W ! Just think about the possible Proof Set and Mint Set combinations, . . . and profits too!
If you have found this guide interesting or in any way informative, I would greatly apreciate your taking just a few moments to check the ( YES ) box at the bottom of this page. All information sources available upon request. - mintex03