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Bedrock of the Community
United States
20753 Posts |
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Imagine the ridiculous transportation costs, and the sheer stupidity of a country with at least three functioning mints outsourcing its coins to another country. Your kidding of course. They are doing this now anyway. Outsourcing coinage to China would help them possibly stop making all our old coins now. Now if they made the Penny half the size of a Dime, no one could get it mixed up with a Dime.  And if they made it a bright Red or Blue, again, no one could get it mixed up with a Dime. And even better if they started making pennies square or a triangle, again could not get it mixed up with anything. See all taken care of. Our Pennies will now be square and blue in color and half the size of a Dime.  |
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Pillar of the Community
United States
3755 Posts |
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Moderator
 United States
190123 Posts |
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Imagine the ridiculous transportation costs, and the sheer stupidity of a country with at least three functioning mints outsourcing its coins to another country. This.  Quote:
The Cent will go away soon. There's no justification for the expense. And this. Quote:
I am just tryin' to come up with ideas to save the cent Quit making it for circulation. Start making a bronze one for collectors (mint sets, proof sets, bags, and rolls). Everyone is happy! Quote:
Energy focused on trying to save a coin valued at 100th of a dollar, has no purchasing power on it's own... and cost more to make than the value it represents, is futile and energy wasted... Oh, and this. |
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Moderator
 United States
56855 Posts |
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Quit making it for circulation. Start making a bronze one for collectors (mint sets, proof sets, bags, and rolls). Everyone is happy! But I am a roll hunter  John1  |
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Moderator
United States
190123 Posts |
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But I am a roll hunter Well, enjoy it while you can! Then move to nickels, dimes, or whatever the bottom denomination ends up being. |
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Pillar of the Community
United States
1192 Posts |
I don't see the cent leaving anytime soon or any significant changes beside changing the material to something like steel.
So does anyone really think the government would want to start not being wasteful haha. Tradition will prevent this for a long time. The only way this was pass if a party completely dominates the house, senate, and presidency and see this as a major issue. Since the mint it's a healthy bottom line for the most part it will continue to not being seen as a major issuue for sometime. Otherwise it will just stall. While they worry about something else.
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Moderator
United States
190123 Posts |
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... changing the material to something like steel. Never going to happen. Not just because steel offers minimal savings, but because it is the zinc lobby that keeps the cents in production now. What the people want does not ever enter into the equation. Same thing with the one dollar note. We still have it because of lobbyists, not because people like them more than coins. |
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Pillar of the Community
United States
1192 Posts |
I just think generally people just don't care about our coinage so it flys under their radar. Now bills yes they would throw a fit if dollars bills were gotten rid of.
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New Member
United States
45 Posts |
I hate dollar bills, I never spend them until I save up about a 150 or so then take a trip to the LCS... I'mnot losing much money in my pocket and its a great way to be able to get more coinage!
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Pillar of the Community
United States
1192 Posts |
I just must be at the point when I'm super poor haha. Sometimes most of my coin money comes from cents, nickels, and dimes I find in the street haha. I get so happy when I get dimes. Sometimes I can find like almost a dollar worth in a day out lol. That turns into a extra dollar to spend chr
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New Member
United States
45 Posts |
trust me I am not rich by any means but I have that self control to keep some money set aside for my habits lol
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Bedrock of the Community
United States
17884 Posts |
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The only problem is that a lot of people might spend them as dimes, vice versa. They would be copper color. Quick plating would solve that problem, now they are silver colored. Quote:
What if the cent was 9.5mm then the mint would be making twice as many units in the same amount of time/labor and material.
John1 Still wouldn't work, no matter what the size the manufacturing/labor cost would still be in the very close neighborhood of 1 cent apiece. In fact as they get smaller the cost might actually rise. Quote:
I am just tryin' to come up with ideas to save the cent Only way to do that would be a revaluation of the currency. Chop off two zeros and the new "cent" has the purchasing power of the old dollar and still has the manufacturing cost of 1/100th of the old dollar. |
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Pillar of the Community
Canada
3049 Posts |
The effects of inflation... the lower denominations have lost their value.... Now this solution Quote:
Only way to do that would be a revaluation of the currency. Chop off two zeros and the new "cent" has the purchasing power of the old dollar and still has the manufacturing cost of 1/100th of the old dollar. will only work if you're also happy with taking your current salary and moving it over two decimal places... On a similar note but slight tangent... I read today in my CCN that it costs almost 8 cents to produce a nickel... can anyone else verify on contradict this statement... b/c if it is indeed true.. you may be close to losing the nickle as well... bad - you lose the nickle & penny... good - perhaps no more nickelback!! |
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Moderator
United States
190123 Posts |
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On a similar note but slight tangent... I read today in my CCN that it costs almost 8 cents to produce a nickel... can anyone else verify on contradict this statement... b/c if it is indeed true.. you may be close to losing the nickle as well... It is true and is often brought up in these discussions. The dime needs to be the new cent. The dollar coin the new dime. |
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Bedrock of the Community
United States
17884 Posts |
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will only work if you're also happy with taking your current salary and moving it over two decimal places... Wouldn't both me (as long as the law required everything else to move the two decimal places as well). Each one of my new dollars would have the purchasing power of 100 of the old dollars so there would be no real change from the current economic situation. You just wouldn't have to deal with coins that don't have any real purchasing power. Chopping off zeros has no real effect except you get to work with smaller numbers. Quote:
I read today in my CCN that it costs almost 8 cents to produce a nickel... can anyone else verify on contradict this statement. Yes it is true, the cost went down. It used to be 9 or 10 cents to make each one. Several years ago when the metal prices were higher it was over 15 cents to make each one. |
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Replies: 27 / Views: 3,386 |
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Posted 01/17/2015 6:56 pm
