To expand on Testfactors statement, the banks help remove damaged currency but there’s no real plan to reclaim currency that’s already been circulated. It’s always been that way and creates scarcity in the collectors market over time. I’m not sure why this is a headline.
The only time I can think of where the US Mint had a plan to reclaim currency was during WWII when the US war machine needed the copper found in the Lincoln cent. The mint pressed steel pennies and banks were instructed to reclaim as many copper pennies as they could.
What is the normal plan when not making new ones?
Take out the bad ones, just like they do now. Probably melt them down and sell the metal.
Melt them down to make novelty pennies
Time to go to your closest museum and get a penny squished and imprinted!
To expand on Testfactors statement, the banks help remove damaged currency but there’s no real plan to reclaim currency that’s already been circulated. It’s always been that way and creates scarcity in the collectors market over time. I’m not sure why this is a headline.
The only time I can think of where the US Mint had a plan to reclaim currency was during WWII when the US war machine needed the copper found in the Lincoln cent. The mint pressed steel pennies and banks were instructed to reclaim as many copper pennies as they could.