The article is about what to do with all the actual physical coins. I would assume the treasury will start gathering them and scrapping them. The old copper coins can be recycled easy enough as there’s plenty of demand for copper, but I have no idea what they’ll do with all the zinc (copper plated) coins. Apparently they don’t know either as there isn’t any plan in place.
Supposedly when the mint decided to start pulling the 1943 steel cents from circulation years ago they ended up dumping a bunch of them in the ocean to get rid of them. Some people consider that an urban legend but perhaps that could happen.
Supposedly when the mint decided to start pulling the 1943 steel cents from circulation years ago they ended up dumping a bunch of them in the ocean to get rid of them. Some people consider that an urban legend but perhaps that could happen.
Steel was still steel. It would likely take more work to pack those on a ship and unload them in the ocean than just dumping them in a giant crucible and turning them into sheet or bar stock for industrial consumption.
This isn’t true. There’s transportation and refining costs. Steel being so cheap and considering the opportunity cost it absolutely could be cheaper to just use new steel and sell/trash/give away old shit.
Also depending on the price could have actually been less steel than they were worth, so selling/smelting would actually give out more cash than scrap value.
The article is about what to do with all the actual physical coins. I would assume the treasury will start gathering them and scrapping them. The old copper coins can be recycled easy enough as there’s plenty of demand for copper, but I have no idea what they’ll do with all the zinc (copper plated) coins. Apparently they don’t know either as there isn’t any plan in place.
Supposedly when the mint decided to start pulling the 1943 steel cents from circulation years ago they ended up dumping a bunch of them in the ocean to get rid of them. Some people consider that an urban legend but perhaps that could happen.
Steel was still steel. It would likely take more work to pack those on a ship and unload them in the ocean than just dumping them in a giant crucible and turning them into sheet or bar stock for industrial consumption.
This isn’t true. There’s transportation and refining costs. Steel being so cheap and considering the opportunity cost it absolutely could be cheaper to just use new steel and sell/trash/give away old shit.
Also depending on the price could have actually been less steel than they were worth, so selling/smelting would actually give out more cash than scrap value.