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A penny saved could become a penny spurned



 
 
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  #1  
Old July 7th 06, 05:52 PM posted to rec.collecting.coins
Jim Higgins
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Posts: 153
Default A penny saved could become a penny spurned

A penny saved could become a penny spurned
http://www.usatoday.com/money/2006-0...nny-usat_x.htm

--
Is Ross Perot available?


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  #2  
Old July 7th 06, 07:27 PM posted to rec.collecting.coins
Joe Fischer
external usenet poster
 
Posts: 94
Default A penny saved could become a penny spurned

On Fri, 7 Jul 2006 12:52:50 -0400, "Jim Higgins"
wrote:

A penny saved could become a penny spurned
http://www.usatoday.com/money/2006-0...nny-usat_x.htm


Thanks for posting that, I enjoy reading what totally
clueless people write, and news reporters are pretty much
clueless to start with.

But rumors are driven by people being clueless,
a man told me yesterday that an aluminum extension
ladder could be cut in 3 foot lengths and sold as scrap
for about $80, even though it obviously only weighed
about 40 pounds and would probably be classed as
"light aluminum".

The mint can take a number of actions, rounding
legislation is not needed, there are plenty of pennies,
and nobody really cares, Kolbe needs the hype to get
his name heard so he can get reelected (what years did
he promote this garbage the last few times?).

The ammunition for the article was probably the
spot price for unadulterated zinc in May, which was close
to $2 a pound, but it is $1.51 now, and the futures market
has it at $1.25.
For zinc contaminated with copper and corrosion,
chances are the melt price will never be more than half
of the spot market for clean heavy zinc.

So the melt part of the story is nonsense, the cost
of the metal being one cent is incorrect unless the mint
is paying a lot for planchets production.

But everybody should save coins, the more the
better, instead of paying a really nonsensical price for
gasoline, which is high only because governments
allow gasoline and crude oil to be treated as commodities.

And the mint can easily find a cheaper metal,
or can simply stop minting them or reduce production,
nobody will notice except Kroger and Walmart will
put out the penny dishes, which have almost vanished
because the only problem is on manufactured by Kolbe,
and the efficiency experts who have killed many a business
by discontinuing popular low value items that did not
earn as much profit as some other items.

This will be an aggravating election year with
dirty politics and non-issues harped by every clueless
politico with an agenda.

Is this the 3rd or 4th time Kolbe has fought
this losing battle?

Joe Fischer

  #3  
Old July 7th 06, 07:35 PM posted to rec.collecting.coins
Paddy O'Day
external usenet poster
 
Posts: 34
Default A penny saved could become a penny spurned

Jim Higgins wrote:

A penny saved could become a penny spurned
http://www.usatoday.com/money/2006-0...nny-usat_x.htm

--
Is Ross Perot available?


"Times change, you have to adapt to those changes,"
Jim Kolbe, R-Ariz.

He must not be a strict Originalist.

JAM
  #4  
Old July 7th 06, 07:43 PM posted to rec.collecting.coins
Jim Higgins
external usenet poster
 
Posts: 153
Default A penny saved could become a penny spurned


"Joe Fischer" wrote in message
...
On Fri, 7 Jul 2006 12:52:50 -0400, "Jim Higgins"
wrote:

A penny saved could become a penny spurned
http://www.usatoday.com/money/2006-0...nny-usat_x.htm


Thanks for posting that, I enjoy reading what totally
clueless people write, and news reporters are pretty much
clueless to start with.

But rumors are driven by people being clueless,
a man told me yesterday that an aluminum extension
ladder could be cut in 3 foot lengths and sold as scrap
for about $80, even though it obviously only weighed
about 40 pounds and would probably be classed as
"light aluminum".

The mint can take a number of actions, rounding
legislation is not needed, there are plenty of pennies,
and nobody really cares, Kolbe needs the hype to get
his name heard so he can get reelected (what years did
he promote this garbage the last few times?).

The ammunition for the article was probably the
spot price for unadulterated zinc in May, which was close
to $2 a pound, but it is $1.51 now, and the futures market
has it at $1.25.
For zinc contaminated with copper and corrosion,
chances are the melt price will never be more than half
of the spot market for clean heavy zinc.

So the melt part of the story is nonsense, the cost
of the metal being one cent is incorrect unless the mint
is paying a lot for planchets production.

But everybody should save coins, the more the
better, instead of paying a really nonsensical price for
gasoline, which is high only because governments
allow gasoline and crude oil to be treated as commodities.

And the mint can easily find a cheaper metal,
or can simply stop minting them or reduce production,
nobody will notice except Kroger and Walmart will
put out the penny dishes, which have almost vanished
because the only problem is on manufactured by Kolbe,
and the efficiency experts who have killed many a business
by discontinuing popular low value items that did not
earn as much profit as some other items.

This will be an aggravating election year with
dirty politics and non-issues harped by every clueless
politico with an agenda.

Is this the 3rd or 4th time Kolbe has fought
this losing battle?

Joe Fischer


Have you been sampling your chemistry set again?


  #5  
Old July 7th 06, 07:59 PM posted to rec.collecting.coins
Joe Fischer
external usenet poster
 
Posts: 94
Default A penny saved could become a penny spurned

On Fri, 7 Jul 2006 14:43:51 -0400, "Jim Higgins"
wrote:

Have you been sampling your chemistry set again?


No, I live in the real world, and couldn't care
less if the mint only makes 730 Million profit this year
instead of 750 Million.

You apparently fail to see the fact that the Fed
official quoted stands to make a profit on a book on
a related subject, and the mint official is probably one
of those trying to gain political points by siding with
Kolbe.

I probably have 70,000 pennies, but only about
6 or 7 rolls are circulated zinc, but I will take those to
the bank tomorrow to buy one gallon of gas.

Congress need to vote itself another raise,
they are doing such a good job.

Joe Fischer

  #6  
Old July 7th 06, 08:41 PM posted to rec.collecting.coins
Fred Shecter
external usenet poster
 
Posts: 268
Default A penny saved could become a penny spurned

Jim Kolbe announced that he is not running for re-election.

He is "retiring".

You are incorrect.

Neener, neener.

--
"""Remove "zorch" from address (2 places) to reply.
http://www.sirius.com/


"Joe Fischer" wrote in message
...
On Fri, 7 Jul 2006 12:52:50 -0400, "Jim Higgins"
wrote:

A penny saved could become a penny spurned
http://www.usatoday.com/money/2006-0...nny-usat_x.htm


Thanks for posting that, I enjoy reading what totally
clueless people write, and news reporters are pretty much
clueless to start with.

But rumors are driven by people being clueless,
a man told me yesterday that an aluminum extension
ladder could be cut in 3 foot lengths and sold as scrap
for about $80, even though it obviously only weighed
about 40 pounds and would probably be classed as
"light aluminum".

The mint can take a number of actions, rounding
legislation is not needed, there are plenty of pennies,
and nobody really cares, Kolbe needs the hype to get
his name heard so he can get reelected (what years did
he promote this garbage the last few times?).

The ammunition for the article was probably the
spot price for unadulterated zinc in May, which was close
to $2 a pound, but it is $1.51 now, and the futures market
has it at $1.25.
For zinc contaminated with copper and corrosion,
chances are the melt price will never be more than half
of the spot market for clean heavy zinc.

So the melt part of the story is nonsense, the cost
of the metal being one cent is incorrect unless the mint
is paying a lot for planchets production.

But everybody should save coins, the more the
better, instead of paying a really nonsensical price for
gasoline, which is high only because governments
allow gasoline and crude oil to be treated as commodities.

And the mint can easily find a cheaper metal,
or can simply stop minting them or reduce production,
nobody will notice except Kroger and Walmart will
put out the penny dishes, which have almost vanished
because the only problem is on manufactured by Kolbe,
and the efficiency experts who have killed many a business
by discontinuing popular low value items that did not
earn as much profit as some other items.

This will be an aggravating election year with
dirty politics and non-issues harped by every clueless
politico with an agenda.

Is this the 3rd or 4th time Kolbe has fought
this losing battle?

Joe Fischer


  #7  
Old July 8th 06, 04:10 PM posted to rec.collecting.coins
Joe Fischer
external usenet poster
 
Posts: 94
Default A penny saved could become a penny spurned

On Fri, 7 Jul 2006 19:41:38 GMT, "Fred Shecter"
wrote:

Jim Kolbe announced that he is not running for re-election.

He is "retiring".

You are incorrect.


Good news is always appreciated, Thank you
Very Much.

Joe Fischer

 




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