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 Replies: 40 / Views: 5,177 |
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Pillar of the Community
United States
3207 Posts |
A 10x dollar revaluation only brings us back to a value last seen during the 1960s, but at least cents and nickels would be useful again instead of throw aways on the verge of mintage elimination.
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Moderator
 United States
188617 Posts |
It will also throw off a generation of people who are used to the new prices. The price of a new car went from $15,000 to $30,000 since I started driving. Now that new car would be $3,000?  Everything would need to be repriced. Everything. Just to shift a decimal point and make our worthless change worth something. This is way more trouble than it is worth. Just get rid of the stupid cent an nickel already. Most transactions are electronic anyway, so more often than not rounding is not even an issue. |
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Pillar of the Community
United States
1913 Posts |
Exactly. There's no need to debase the currency. We're not living in a hyper-inflationary environment. Just get rid of the cent and nickel, but keep them for mint sets.
Edited by Bret
12/15/2020 5:10 pm
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Moderator
United States
188617 Posts |
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but keep them for mint sets. Amen! It has worked for the half dollars and my albums are thankful. Oh, and feel free to make those cents bronze like they were in 2009.  |
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Bedrock of the Community
Australia
21788 Posts |
Non magnetic stainless steel or Chrome plated steel could be 'in' for Dimes and Quarters.
Other countries have had coins in circulation with these metals for decades.
Nevertheless copper plated zinc is already about as close as it is possible to go to 'scraping the bottom of the barrel' for Pennies. I don't think that the Public would ever accept plastic coins, as they do with credit cards right now.
Looking further into the future, coins of larger denominations could be the norm, due to inflation.
NCLT in valuable metals should be largely unaffected by these developments as long as collectors want them, and mints can make a profit out of this sort of product.
Some countries are seriously considering introducing their own national digital currencies (something like Bitcoin) and getting rid of coins, notes and plastic cards completely. Could be a convenient way of ignoring the growing national debt.
However, beware of the compulsory 'mark of the beast' to be able to buy and sell.
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Moderator
United States
188617 Posts |
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Nevertheless copper plated zinc is already about as close as it is possible to go to 'scraping the bottom of the barrel' for Pennies. I don't think that the Public would ever accept plastic coins, as they do with credit cards right now. Plastic would probably cost more than zinc does now. If we could make cents from thin air they would still cost more than a cent to make and distribute. Quote:
Looking further into the future, coins of larger denominations could be the norm, due to inflation. True. If we can get them to stop printing notes. Our dollar coin is a failure from its coexistence with the dollar bill. In 2000 I honestly thought we would have our own Toonie by now and would be considering a five dollar coin.  Quote:
However, beware of the compulsory 'mark of the beast' to be able to buy and sell. That old chestnut?  |
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Bedrock of the Community
United States
17884 Posts |
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The price of a new car went from $15,000 to $30,000 since I started driving. Now that new car would be $3,000? Of course your income would also be reduced to 10% of what it is now. Quote:
Non magnetic stainless steel or Chrome plated steel could be 'in' for Dimes and Quarters. But would not be "seamless" with the existing coins, and would require significant changes on behalf of the end users, so would not fit in with the new legislation. |
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Moderator
United States
188617 Posts |
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Of course your income would also be reduced to 10% of what it is now. Yup. Again, I have to consider the psychological effects and having to retrain our brains. I think the first few seasons of The Price is Right would be crazy.  I wonder how it affected the general population of Mexico in 1993 when they moved the decimal point three places. Perhaps the more drastic realignment was easier to fathom? Also, they revalued everything including the coins. I think changing the value of the US dollar without replacing all coins and currency would be folly. |
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Pillar of the Community
979 Posts |
moscow will never let this pass the senate if he holds onto it which I honestly believe is very unlikely or even bring it up for a vote.
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Bedrock of the Community
United States
10038 Posts |
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We're not living in a hyper-inflationary environment. Possible to change soon. PM base - never happen - but is likely the cure. How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Pillar of the Community
United States
5775 Posts |
Three words.
Embedded chip coins that are resin-coated steel?
(Dang it, I never could count.)
Words of encouragement are one of the major food groups.
We need to consume them regularly to thrive and grow.
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Pillar of the Community
United States
4692 Posts |
Just bring back encased postage stamps. Encased in plastic. You can glue them on your mail.
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Moderator
United States
188617 Posts |
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Just bring back encased postage stamps. Encased in plastic. You can glue them on your mail. |
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Bedrock of the Community
United States
19951 Posts |
Dummies need to just do away with the one dollar note, the penny and the nickel. That's a change I could support!
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Moderator
United States
188617 Posts |
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Dummies need to just do away with the one dollar note, the penny and the nickel. That's a change I could support! Agreed, of course.  |
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Replies: 40 / Views: 5,177 |
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Posted 12/15/2020 4:06 pm
