Tuesday, March 12, 2013

mining the mint

Copper is slumping, down 5% in the last month, due to increased inventories (doubling in three months). The mint stopped distributing pennies on February 3rd, 2013. It's Finance Minister Jim Flaherty's bid to save Canadians more money lol, since a penny was 1.6 cents. Financial institutions will get reimbursed for collecting the metal. (Prediction: banking windfall) 
One Cent Coins to look for: (1) 1953-1979, (2) 1980-1981, and (3) 1982-1996
 
Years Mass Diameter/Shape Composition
2000–2012 2.35 g 19.05 mm, round 94% steel, 1.5% nickel, 4.5% copper plating
1997–1999 2.25 g 19.05 mm, round 98.4% zinc, 1.6% copper plating
1982–1996 2.5 g 19.1 mm, 12-sided 98% copper, 1.75% tin, 0.25% zinc
1980–1981 2.8 g 19.0 mm, round 98% copper, 1.75% tin, 0.25% zinc
1978–1979 3.24 g 19.05 mm, round 98% copper, 1.75% tin, 0.25% zinc
1942–1977 3.24 g 19.05 mm, round 98% copper, 0.5% tin, 1.5% zinc
1920–1941 3.24 g 19.05 mm, round 95.5% copper, 3% tin, 1.5% zinc
1876–1920 5.67 g 25.4 mm, round 95.5% copper, 3% tin, 1.5% zinc
1858–1859 4.54 g 25.4 mm, round 95% copper, 4% tin, 1% zinc (bronze)

Penny production ceased on May 4th, 2011. So far, I think I'm down 10-15 cents on penny-rounding at stores.

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