This seems like a kind of intelligence test. Not sure I can feel too badly for anyone that buys them...
Edit: Many friendly Canadian types have informed me that there is indeed a good reason for this, it's because they can't get those coins anymore, and they are not in fact, at all, mentally underprivileged.
Canada removed pennies from circulation and stopped minting them in 2012. Banks have been buying them back and returning them to the government to melt them down. Not only are the metals in a penny worth more than a penny (almost 3 cents per penny now I believe, depending on the year, it goes up as the year goes down), but they have a collector's value.
It would be a bit of a risky purchase but if you know what you're doing you could potentially make your money back and then some on purchasing those. Yes, Value Village is likely overvaluing them a bit but pennies haven't been made any major leaps in value for collectors yet and this is probably the most cost-effective way to deal with them. For many people I doubt $2.30 CAD (the 30 cents comes from the 15% sales tax in Newfoundland Labrador where Karen appears to be based) would seem like too much to risk for the chance to complete their penny collection. In any case they're worth something to, and would slightly grow in value as time goes on for, those people with a book to fill.
Edited to clarify: The retweet is from Halifax ReTales, and the original tweet is from Karen_NFLD. Halifax is a city in Nova Scotia, Canada. NFLD is an outdated abbreviation for the province of Newfoundland Labrador, therefore I went by the original tweet and assumed this was found in Newfoundland Labrador. However both Newfoundland Labrador's and Nova Scotia's sales tax is 15% so the math would be the same regardless.
Also it's nearly impossible to turn the buying and selling of pennies to melt down into a viable income, you'd have to have consistent access of hundreds of thousands of the things and even then it's not a safe bet. Also in most cases it's illegal.
Lastly, thank you to the person who sent me the gold, it's my very first and I had no idea what it was for a bit there. And thank you all so much for all the questions and comments. Today was actually a very hard day for me and it was awesome to chat with you all on such interesting topics. I hope you all have a great day, you've made mine much better.
CherryKrisKross on August 26th, 2019 at 07:27 UTC »
This seems like a kind of intelligence test. Not sure I can feel too badly for anyone that buys them...
Edit: Many friendly Canadian types have informed me that there is indeed a good reason for this, it's because they can't get those coins anymore, and they are not in fact, at all, mentally underprivileged.
_EliteAssFace_ on August 26th, 2019 at 09:48 UTC »
Maybe in Canada where the penny isn't made or used anymore
lowercase_underscore on August 26th, 2019 at 10:28 UTC »
Canada removed pennies from circulation and stopped minting them in 2012. Banks have been buying them back and returning them to the government to melt them down. Not only are the metals in a penny worth more than a penny (almost 3 cents per penny now I believe, depending on the year, it goes up as the year goes down), but they have a collector's value.
It would be a bit of a risky purchase but if you know what you're doing you could potentially make your money back and then some on purchasing those. Yes, Value Village is likely overvaluing them a bit but pennies haven't been made any major leaps in value for collectors yet and this is probably the most cost-effective way to deal with them. For many people I doubt $2.30 CAD (the 30 cents comes from the 15% sales tax in Newfoundland Labrador where Karen appears to be based) would seem like too much to risk for the chance to complete their penny collection. In any case they're worth something to, and would slightly grow in value as time goes on for, those people with a book to fill.
Edited to clarify: The retweet is from Halifax ReTales, and the original tweet is from Karen_NFLD. Halifax is a city in Nova Scotia, Canada. NFLD is an outdated abbreviation for the province of Newfoundland Labrador, therefore I went by the original tweet and assumed this was found in Newfoundland Labrador. However both Newfoundland Labrador's and Nova Scotia's sales tax is 15% so the math would be the same regardless.
Also it's nearly impossible to turn the buying and selling of pennies to melt down into a viable income, you'd have to have consistent access of hundreds of thousands of the things and even then it's not a safe bet. Also in most cases it's illegal.
Lastly, thank you to the person who sent me the gold, it's my very first and I had no idea what it was for a bit there. And thank you all so much for all the questions and comments. Today was actually a very hard day for me and it was awesome to chat with you all on such interesting topics. I hope you all have a great day, you've made mine much better.