Speculation On What The New Penny And Nickel Will Be Made Of

upstate, agreed. And they'll charge us many, many nickels to do it, too.

It doesn't matter what they change the cent to they will still be losing money on it. The only way to reduce costs (stop losing money) on it is to discontinue it.

More of a headache will be the nickel. It IS possible to change its composition to stop losing money, but it will require the replacement of the coin mechanism in every vending machine in the country. Or the setting of every existing mechanism to reject nickels.

I agree with jbuck in that they should be eliminated. Of course this creates the need to replace the quarter with some other denomination. And if we remove the cent/five cent pieces, that would usher us along to getting rid of the paper dollar.

Personaly speaking, I would like to see the dime become the new cent. I would like to see the one and five dollar bill become coins and the paper versions phased out. Keep the dime, get rid of the quarter, and .50 cent pieces make a return to regular circulation.

I agree with upstate. I feel like I have heard the same story before. Have a committee, draft a bill, maybe vote on it. If it passes the House, it usually goes nowhere in the Senate. Similar things have happened with the Dollar coin/bill Debate.

I agree the penny probably wont change since no matter what they lose money. The only change that should happen there should be get rid of it other than for proofs and collectors.

As far as the nickle I'm really on the fence. It should be done away with in terms of buying power (really the dime could be too) but ditching two coins at once may be to much of a system shock. The nickle could end up with some cheaper metal but Id like to see it stay the same if itll stay around. I mean if your going to make the coin make it right

I'm always amazed at how so many people think about saving a few dollars by stopping the Cent and/or Nickel. Our government blows billions of dollars on almost anything and everything. It is well known how they spend hundreds or even thousands on a hammer. Politicians have massive expense accounts and use them extensively. their salaries are so far above the average person, it becomes humorous. Yet we worry about the cost of making a penny.
And just how many run out to banks as soon as the new ones come out so they can get them? How many send to the Mint for rolls of those things we shouldn't, don't need, cost to much to make coins?
So the next coins will be all Steel. And since so much of our Steel comes from China, that is where our coins may well be made in the future. OOOPPPs. Some are already made there.

I don't know about the dime, honestly, it's tiny for a reason, and I think its purchasing power is tolerable enough for evetyone, even people who hate change, in an exact-change monetary system, that and I hate change. I didn't really ever like the penny up here but I'm going to miss it.