Coin Modernization

The actual realistic answer I have is the following:

Re-base the dollar at 1/10 of its current value....so $10 old dollars = $1 new.

Keep the cent, nickel, dime, and quarter. Keep $1, $2, $5, $10, $20, $50 and $100 notes. Stop the half and dollar coins altogether. They are a complete waste of time, energy, and money.

Change the designs of ALL coins to more regal, LIBERTY based designs that are fresh and new, yet very artistic.

Go back to the multiple hubbing technique so coins are coins again, not just washers with a little bit of relief like they are now.

Make all coins out of copper, keep the colors the same as now, except for the 5c coin. It should be larger than the 1c and copper in color. This means a 1c change back to a copper base, which would extend their life by about 5 times. Remember, the debasing makes them worth the current dime, so there would still be cause to produce them.

Make all notes out of polymer (rip-stop plastic). They would be twice the cost to produce and fifteen times the life-span of our current linen notes.

as a side note, ANYONE looking to change our coins to silver is looking to absolutely ruin what's left of our economy. It's not even close to realistic.

"Re-base the dollar at 1/10 of its current value....so $10 old dollars = $1 new"

This will never float in the US. Many Nations have been forced to do this in the past, and it's never a good thing.

The logistics are rough, as all kinds of contracts would have to adjusted to reflect the new base. Also, since the dollar isn't based on anything anyway, why would people accept it? The general population could care less about the money. They care how much they have of it. People who make 20k a year, would be ticked they were only making 2k a year, no matter how far that new dollar goes.

The biggest problem I see with re-basing the currency, is that the rest of the world would see that as a sign of weakness. The US dollar is already losing it's credibility in the world market, a De-basing would just exacerbate that thought. The US dollar would probably lose it's reserve status, and we'd end up no better off than we are now, if not worse.

I'd like to see the penny and nickel stay, but if they have to make radical changes, then it's time for Abe, and Tom to go. we'd need a new design. Seeing Abe in aluminum wouldn't be right.

This is where Sap and I can disagree.

I would like to see the discontinued cent and nickel remain in both mint and proof sets, considering the fact that the NIFC half dollar is still being made for both sets. The continuation would appease those with pre-dated holes in their albums (Dansco, Whitman, etc).

They could go ahead and stop minting them or eventually phase them out, but I see no reason why if the mint continues to sell full sets to happy collectors at a nice profit. After all, this is about the bottom line.

Oh, and while they are at it, they might as well make those NIFC cents in 95% copper.