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 Replies: 16 / Views: 9,626 |
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Rest in Peace
United States
3039 Posts |
My bank has a magnet in their coin counter to pick up magnetic coins.
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Pillar of the Community
United States
745 Posts |
Canada dime and nickel are magnetic later years are made with steel and older coins are made of 100% nickel which is magnetic too! Our US nickels are 75% copper & 25% nickel, but are not magnetic. So here's a question... at what % of nickel will coin become magnetic? 25% nickel = No 100% nickel = Yes  Edited by Penny4Me
08/06/2012 11:57 pm
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Pillar of the Community
United States
745 Posts |
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Bedrock of the Community
 United States
12863 Posts |
I wish I had gone to my mechanics of materials classes in college....
But this is a great refresher! Thanks, Penny4Me! :)
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Bedrock of the Community
United States
20753 Posts |
Would be interesting to hear from someone in Canada that knows about coin sorting in banks. Or vending machines there since so many of ours have magnets in them to sort out fakes, washers and Canadian Coins. So what do the Canadians do to sort out our coins? Sort out fakes and miscellaneous items like washers?
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Pillar of the Community
United States
2295 Posts |
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Bedrock of the Community
United States
17884 Posts |
Not all Canadian five and ten cent coins are magnetic. Between 1982 and 1990 their five cent used the same composition as ours 75% copper 25% nickel. Before that they used pure nickel some years and chrome plated steel in other years (late 40's and early fifties). The ten cent was not magnetic before 1969. (Either .800 or .500 fine silver)
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Valued Member
 United States
161 Posts |
So it was not by design so much as a switch to cheaper materials?
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Pillar of the Community
United States
745 Posts |
Yes, a switch to cheaper materials, i.e. Silver to Nickel was big $$ change,
then pure nickel to steel...Next it maybe Plastic coins?
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Bedrock of the Community
United States
12863 Posts |
There is a bill or two being kicked around Congress now to switch from zinc and nickel to steel. Not coincidentally, the politicians pushing the bill are from Ohio, one of the largest steel-producing states in the nation. http://news.coinupdate.com/legislat...ickels-1117/ |
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Bedrock of the Community
United States
17884 Posts |
Well there was also the fact that Canada is the largest producer of nickel (which is magnetic) in the world. It was just kind of natural for them to use nickel. Quote:
There is a bill or two being kicked around Congress now to switch from zinc and nickel to steel. Changing them to steel WILL lower the costs, but they will still be higher than the face value. So the bill is just a question of "do we lose more money or less". Not "should we stop losing money?" |
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Pillar of the Community
United States
2295 Posts |
It is because the government never thinks far enough ahead to do the job correctly. They just look for temporary or simple fixes.
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Valued Member
United States
161 Posts |
Well it is an expense just like the roads and schools etc. At least the coins are worth SOME of the value after the money spent to produce them has "changed"
hands. Reducing costs is always good thing.
The real problem is when the melt value is worth more than face value. Then the Mint is faced with the problem of filling up a cup that has a large hole at the bottom.
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Bedrock of the Community
United States
20753 Posts |
Quote:
The real problem is when the melt value is worth more than face value. Then the Mint is faced with the problem of filling up a cup that has a large hole at the bottom. No the real problem will be with the millions of people using washers in vending machines. As long as the magnet system works, that is not possible. But start with magnetic coins and vending machines will really get hurt here. I still don't see what happens in Canada or any country with Steel coins and vending machines. Someone I know works in a place that makes washers, bolts, nuts. Wow, he could get rich if we change to steel for our coinage. |
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Valued Member
United States
161 Posts |
That sounds like it will only a problem if you own a coin operated washing machine. :P
Seriously though if they can't sort out the slugs they will just have to switch to machines that take bills only. Most vending machines take bills already.
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Posted 08/06/2012 11:53 pm
