Composition Of Future US Coins - Page 2

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Author	Replies: 21 / Views: 3,203	Page: of 2

jbuck Moderator United States 188560 Posts	Posted 06/23/2014 4:12 pm Quote: 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! Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
Mr Click Pillar of the Community United States 964 Posts	Posted 06/23/2014 4:23 pm Quote: You are correct but, no need to slam a fellow member using the correct definition. I was playing around Report this Post to the Staff
AlbumAccumulator Pillar of the Community United States 656 Posts	Posted 06/23/2014 4:36 pm Quote: 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 Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 06/24/2014 09:32 am Quote: 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 Report this Post to the Staff
shadz Pillar of the Community 1325 Posts	Posted 06/24/2014 12:52 pm Quote: 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. Report this Post to the Staff
crazyforATB Valued Member United States 449 Posts	Posted 06/24/2014 10:06 pm I don't think its even worth thinking about, because the future of coins .... well they have no future. Report this Post to the Staff
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