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 Replies: 21 / Views: 3,205 |
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Pillar of the Community
1325 Posts |
Steel would be stupid as then washers could pretty much be coins, not to mention rust. Aluminum would be a better material for coins. I can't figure out why they aren't made from aluminum yet.
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Pillar of the Community
United States
964 Posts |
How soon would it take for all 95% copper pennies to be extinct from circulation? In your opinion, if they did stop making the penny and nickel?
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Pillar of the Community
United States
5825 Posts |
95% copper CENTS are disappearing from circulation as fast as people can find them.
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Pillar of the Community
 United States
997 Posts |
Canada and other countries do well with steel coins.
I agree that elimination of the cent is forgone at this point. Replacing the nickel with a zinc or steel coin would negate the need for a 20 cent coin to replace the quarter, but maybe it is time to do it all in one fell swoop; eliminate the 1 and 5 cent coins, replace the quarter with a 20 cent coin, convert the dime, the new 20 center, dollar and a new $2 coin to steel and eliminate the $1 and $2 bills.
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Pillar of the Community
Canada
2805 Posts |
Everyone has their own pet proposal, but mine is to re-do everything in one go. The dime will be a small aluminum-bronze-plated-steel coin with a reeded edge, the fifth will be nickel-plated-steel have a hole in the center and a plain edge, the half will be smaller than the small dollar with a segmented-reeded edge, and the small dollar will stay the same (give it a break already). My idea for the $2 coin is a 13-sided bimetallic with a yellow-metal ring and gray-metal core, and $5 could be a yellow-cored bimetallic with excuse lettering on the edge (which is the devil to fake). This also leaves room open for an ambitious trimetallic $10 (imagine the United States leading the world with its coins for once!), maybe even with a silver center.
But the copper-plated steel nickel is already in the testing phase, so it's unlikely the U.S. Mint would abolish its darling child so soon after creating it. So total reform looks like it's out for the near future.
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Pillar of the Community
United States
964 Posts |
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95% copper CENTS are disappearing from circulation as fast as people can find them. Pennies is what comes on the boxes I get from the bank, so that is what I call them.  |
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Pillar of the Community
United States
1959 Posts |
Would a 13 sided coin work in vending machines? Anything other than round seems like a problem for coin operated machines. A holed coin for lower denominations and bi metallic for higher denominations seems like a legit start.
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Pillar of the Community
United States
997 Posts |
Canada has had good results with their 11 sided dollar coin. 11 and 13 sided coins have a consistent diameter and are a good substitute for round coins while providing a unique feel. This helps the visually impaired as well as machines.
I would have no issue with holed coins or some of the other suggestions presented here but I think the time is right for a general realignment of coinage and small bills. If we keep it reasonable number of bills and coins (5c, 20c, 25c, $1, $2 coins, $5, $10, $20, $100 bills) with relative sizing and distinguishing marks and a cost-effective process and composition the public should embrace it with a minimum of grumbling.
If there are large changes though the Mint will have to stock up on the new coins before they are released and you can bet that the old ones will be hoarded in fairly large amounts. Since metal prices are not out of the world like they were when the silver was removed in the 60's it shouldn't be a total catastrophe but you know that people are gonna want to keep a few of the "old style" coins for a while until they realize that they are only going to be worth face value for many years.
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Rest in Peace
United States
4078 Posts |
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Pennies is what comes on the boxes I get from the bank, so that is what I call them. You are correct but, no need to slam a fellow member using the correct definition. n9jig, this is a wait and see what will happen.IMHO |
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Moderator
 United States
188560 Posts |
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Wow! Could you imagine if they stopped minting the nickel and the cent? How long do you think they would stay in circulation after the halt in production? Not long. And I am okay with that.  Quote:
I read an article that said in a report to the Mint in 2013, a consultant said that making a steel-based cent would actually cost the same as the current zinc-copper cent. You could make them out of a free (no-cost) material and they still cost more than a cent to make! In other words, there is no material out there that will ever make the cent cost effective. It will always lose money. Quote:Elimination of the nickel means the quarter must be replaced by a Twenty Cent coin. Ain't gonna happen any time soon. Not really, just get used to using a lot of dimes.  We might even be able to kill off the quarter and get the half dollar circulating again, which would make Fox very happy! |
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Pillar of the Community
United States
964 Posts |
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You are correct but, no need to slam a fellow member using the correct definition. I was playing around  |
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Pillar of the Community
United States
656 Posts |
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You could make them out of a free (no-cost) material and they still cost more than a cent to make! In other words, there is no material out there that will ever make the cent cost effective. It will always lose money. Yep, even more reason to kill the denomination |
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Bedrock of the Community
United States
17884 Posts |
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Wow! Could you imagine if they stopped minting the nickel and the cent? How long do you think they would stay in circulation after the halt in production? The cents would disappear for all practical purposes within 6 to 9 months. Nickels would stick around longer but probably well less than 2 years. The nickels would last longer because they are used in vending machines and they really are needed if you keep the quarter. Unless all prices get rounded to the nearest 25 cents. Sales taxes tend to be the problem. If you round to the nearest cent you really need cents in order to make change. If you round to the nearest nickel you need nickels for exact change. Round to the nearest dime and you need dimes, but in this case you have additional problems because unlike the lower denominations the dime is not a even fraction of the next larger coin. In a great many instances you will find that in order to make exact change you will need to have a nickel, or the customer has to overpay with an extra quarter so they can get back a bunch of dimes. (And try and convince your vending machine what is going on with the extra payment.) It can work, but it isn't efficient. Quote:
Steel would be stupid as then washers could pretty much be coins, not to mention rust. Aluminum would be a better material for coins. I can't figure out why they aren't made from aluminum yet. The rust problem all depends on what grade or alloy of steel is used. The 43 steel cents used a cheap low grade steel which was why they had such a problem with rusting. Plated aluminum could work, but trying to get vending machines to be able to accept both the heavy coppernickel clad coins and the super lightweight versions at the same time would be a real challenge. Edited by Conder101
06/24/2014 09:44 am
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Pillar of the Community
1325 Posts |
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Plated aluminum could work, but trying to get vending machines to be able to accept both the heavy coppernickel clad coins and the super lightweight versions at the same time would be a real challenge. Why? if a vending machine can accept more than one type of coin today because we have more than one denomination, then it could take as many types as are created. the only current standard is dime, quarter, and half being the same compositions just bigger or smaller. Cent, Nickel, Dollars all are separate compositions. you jsut have to add the new composition to the machines. IF A then accept, value = XX IF B then accept, value = XX else reject just need that for each coin size and it can get as complex as it needs to be for a many coins sizes and compositions there is. if they can use a camera to detect and reject bad pickle slices flying through a blade at high cutting speeds, then they can use them to detect non coins shoved in a vending machine to reject them. or just use the magnetic signature of the coins metals combined with its size and weight.... there are al kinds of ways to do it with any number of coins. |
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Valued Member
United States
449 Posts |
I don't think its even worth thinking about, because the future of coins .... well they have no future.
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Replies: 21 / Views: 3,205 |
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First Page
Posted 06/23/2014 11:30 am
