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 Replies: 21 / Views: 3,194 |
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Pillar of the Community
United States
807 Posts |
Absolutely not.
While I cannot see any reason why the suitability of any denomination of coin should be judged on whether it produces a profit for the issuing authority (we see, for example, the coinage of gold at public expense in England & other countries from the time of Charles II onward), it should be obvious that only those coins should be issued which are useful in making change. If any denomination is to be revived, it should be the 3-cent piece, but only if the 1 & 5 cent coins are both suppressed.
I have some hope that the turmoil of recent years will aid people to wake up to the need to restrain the excesses of financiers, & to reject the principle of continuous depreciation. Remember, the US has deliberately deflated its currency before! But even if we were to adopt a policy target of 1~2% annual appreciation (which, judging by how these things typically work out, would probably result in approximate stability), no appreciable need for a denomination below five cents would arise for decades.
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Pillar of the Community
United Kingdom
1685 Posts |
I have traveled to places where the lowest amount similar to the US 5 cent coin. Rounding to an even 0 or 5 works fine.
I rather see the US get rid of the 1 cent coin rather than add a 2 cent coin.
In the UK, I put all of the 1 pence, 2 pence, 5 pence coins I get in change in a jar and deposit them back into the bank when it gets full.
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Bedrock of the Community
United States
20753 Posts |
I'm for keeping the 1 cent coin. Also, to start making the 2 cent, 3 cent and possibly even a 4 cent coin. Naturally keeping the Nickel too. I also like to reinstate the 20 cent piece. 50 cent coins should be recirculated and the larger dollar coins too reinstated. Then stop all the paper bills below a 20. Then stand back and watch people trying to figure out what is what when they buy stuff.   I really wonder if the government cares what we want, need or can use. |
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Pillar of the Community
United States
9796 Posts |
I love Two Cent coins but see absolutely no reason for a new issue today. "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Bedrock of the Community
United States
11951 Posts |
I don't think the government will ever put out a new denomination coin. The majority of people in the United States do not want to change anything. Businesses are set up for the coin and currency that we are using now. Cash registers do not have space for extra coin or bill denomination. Coin operating machines are set up for what we currently use and it would be to costly to change. If anything will happen the one cent and one dollar bill might be dropped. Government studies show this would save tax payers money. They have known this for many years, but we are no closer to this happening. Even if a new Two Cent coin was made, it would not be a copper coin like the classic Two Cent coin. Chances are it would be cheaply made coin that no one would want to collect. |
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Pillar of the Community
United States
1796 Posts |
Edited by SteveCaruso
07/28/2013 10:42 pm
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Moderator
 United States
189767 Posts |
Quote:
What is everyone else's opinion? Possibly your worst idea ever.  We are already at the point where the dime should be the lowest denomination. Bringing the Two Cent coin back would be beyond absurd. |
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Pillar of the Community
Canada
2805 Posts |
I thought Americans hated change - or at least my price catalog is full of strange denominations that nobody liked. Besides, an (expensive) two-cent coin trying to make it through Congress would just take attention away from the vastly more important drive to get rid of the $1 bill.
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Moderator
United States
189767 Posts |
Quote:
Besides, an (expensive) two-cent coin trying to make it through Congress would just take attention away from the vastly more important drive to get rid of the $1 bill. Worth quoting and liking.  |
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Pillar of the Community
United States
899 Posts |
I've said it before and I'll say it again. No changes to any of the coins or dollar bills are going to save any money. The second they stop making them the money will be diverted elsewhere and gone - a drop of water in the apparent overflowing ocean our government believes is the national treasury. You could write about saving $99 million and I can write about a single $100 million trip that wouldn't even pay for. Trying to devise schemes around saving money at the Federal level is like trying to get McDonalds to sell nothing but healthy value packed meals... it isn't going to happen. They may claim any sorts of savings they want in any of the bills they put forth and it is a joke waiting for a punchline. That's my 2 cents...  Edited by Doug58s
07/29/2013 5:16 pm
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Pillar of the Community
United States
1053 Posts |
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To me the financial aspect of it would be the first thing that needs to be figured out. If theres no potential savings from it the idea stops there. If there is a potential savings then it could be worth looking into the other issues. I agree completely. |
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Bedrock of the Community
United States
17884 Posts |
Depends on how you classify savings. Right now they spend $200 and they get $100 in cents, net result a loss of $100. If you discontinue the cent you have the $200 that you didn't spend. That seems to be a savings of $100. Of course they then spend that $200 on something else. So now you have that something else, but you don't have the $200, an you don't have the $100 in cents. So do you have a savings or not?
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Pillar of the Community
United States
1391 Posts |
You know, if we just went to a 2 1/2 cent coin then not problem with the nickel because two 2 1/2 cents makes a nickel and they would be worth slightly more than the cost to make them (like 0.1 cents more) :D http://www.ngccoin.com/poplookup/wo...coinid=79181 |
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Pillar of the Community
United States
1109 Posts |
I want them to make a coin that has a blank where I fill in the value. :)
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Valued Member
United States
324 Posts |
! Hey!Who decided any one single denomination must be a money maker? It starts out as a false assumption! If the mint breaks even or profits on all its coin denominations in the aggregate is what actually matters.  Edited by BluegrassRiver
07/31/2013 10:31 pm
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Replies: 21 / Views: 3,194 |
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Posted 07/28/2013 1:52 pm
