Guess Year Of Last Lincoln ?

Not quite four cents.

Regardless, if even if the material were free it would still cost more than a cent to make a cent.

Plated steel would be futile.

Plastic would be futile.

Kill the cent!

I would rather see us simply revalue our currency again.

Recall all the notes and revalue them at 1/10th the old value for the new value.

Keep the coins as is and let those change jars / coin collections enjoy the 10x gain. To the hoarders of coins go the spoils.


In a base 10 / decimalization system, you need to have a coin for the smallest unit of value to whatever decimal place is agreed upon. You can get rid of the cent and make the dime the new cent (and the reason for my 1/10th / 10x figures above). Prices would then be only listed with one decimal point, kind of like how when we got rid of the Half Cent we wouldn't need to list a price with three decimal points.


All of this is irrelevant though. With the currency wars moving into high gear, the flaw of national central banks / monetary authority will be exposed and instead of returning to specie backed money, we will have a global fiat currency.

Me, I'd rather return to specie backed money and eliminate the Fed and FDIC insurance and just let banks fail based on their own merits and take their foolish depositors down with them, but that will never happen without a bloody revolution. A realistic solution is to eliminate national currencies and issue a world currency. It is going to happen eventually. It is the only solution to the currency war that doesn't involve actual physical war.


As for what year the Lincoln Cent becomes non circulating, I hope never, but I'd guess 2020 - 2025, right around the time the government needs to either default on social security payments or devalue the dollar.

It will probably be a while cause that's America and
Politics are slow. There likley will be some crazy people who believe the penny is a patriotic right. Fin235 dont forget its rounded so you don't really loose out. It likley evens out. And for the people who feel like your being cheated. just over pump your gas by 2 cents every time. You'll be rolling in savings as that gets total is rounded back down.
I was born and raised in the states and now live in canada and can tell you people got used to it fast. Even though it created a stir.as a collector it pains me to say. It works!
That said. 2029

While a fan of bimetalism, the flaw in that was the fixed exchange rate between gold and silver.

I would make it all gold based.

I would make silver and copper (and likely any metal the market demands) legal tender as well along with free coinage of metals via the mint.

Gold would be fixed, all other coinage would float in relation to gold.

I don't buy that there isn't enough gold for this, I would buy that gold wedding rings would be worth more than the average house as a result of remonetizing gold.

I'd probably be willing to add energy to the mix as well, whether that be natural gas, oil, gasoline, coal, or just plain old electricity, though obviously you won't be taking your paper money to the bank in exchange for energy.

I'd nationalize all the insolvent banks, they are all currently insolvent under typical accounting rules, and turn them into utility type companies.


As for the expansion of credit, I would go with Professor Fekete's Real Bills. Basically that is short term commercial paper that is traded on open markets.

https://en.wikipedia.org/wiki/Real_bills_doctrine

You simply change the value of gold, how much we have is irrelevant unless that number is zero and in that case I will donate a few ounces to get us started. I'd much rather give up some gold than even a stranger's blood.

I wouldn't need to make it all gold either, but that would be the only standard value, everything else would float against it.

I would certainly make at least silver and copper coins (and paper notes backed by them) legal tender as well. Bring the mint back to its original purpose. You bring in metal, they assay it and coin it for a nominal fee.

Any other metals the market demands would be fine by me as well. Platinum and palladium are other fairly common precious metals, but I would even monetize aluminum and lead and anything else the market demands. Only gold has a fixed value though, everything else floats against it. Heck, while doing the same thing with energy, I'd probably be willing to issue notes against land and developed land as well. Might even be able to convince me to issue against future labor, but that smacks of indentured servitude.

Then you can not issue currency without backing. You can issue real bills though and let the market discount them as it sees fit. You need both hard money and real bills / paper money based on assets / production / trade for this to work.


Who says debts need to be paid or bailed out anyway? High time for a debt jubilee or at least restoring the right of bankruptcy for all.

Bankruptcy is a fundamental right in capitalism and it is how the weak are culled from the herd.


Real bills are a great solution to the lack of credit. Limited duration paper money backed by whatever assets the private issuer wants to issue against. The market will determine their value based on the merits of that issuer's skills.

Bailing out failing institutions is how we got into this mess in the first place.


The current system will not go quietly into the night for sure. That is why I would reluctantly endorse a global currency to get out of the currency wars without needing to resort to a hot physical war. I don't think this will happen though. War is our future.

I think it happens by 2025.

I like the NIFC idea but if the Lincoln Cent ends completely I won't shed any tears. 100+ years is a heck of a run.

The same year Dansco releases the updated 7070.