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 Replies: 20 / Views: 3,513 |
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Pillar of the Community
708 Posts |
Here is an update from the Dollar Coin Alliance on the "COINS Act" that would eliminate the $1 bill: ------------------------------------------------------------------------------------------- DCA wrote: The bills will be reintroduced in early May. We are working to be included in a broad budget compromise that we think will happen by year's end. Interesting thoughts on the two dollar bill/coin. I hope we can focus on that approach once we're successful w the dollar coin! Keep sending those letters to Congress. Every little bit helps. DCA ---------------------------------------------------------------------------------------------- Looks like the $1 bill isn't the only bill in danger of being eliminated. It looks like they may try to eliminate the $2 bill as well, which I totally support, as long as we use Canada's yoonie as the prototype for our U.S. $2 coin. (How much you want to be they are going to do some type of "$2 coin" series similar to the Presidential "$1 coins" to make a profit somehow, if they come out with a $2 coin?  ) Anyway, I wish the DCA would also consentrate on getting rid of the penny, reducuing the half to a little bigger than the penny and a little smaller than the nickel or maybe a little smaller than the quarter, and a little bigger than the nickel, and downsize the current nickel to close to the penny's size to give the new halves some size room, and making it copper in color like the penny, but as a sided coin as well, so as to not confuse halves with pennies for as long as the pennies linger after their production being halted. And I also wish that the U.S. would make our coinage out of cheaper metals, like the current Canadian multi-plated steel coins. Hey, it seems to work for our neighbors to the north, so why not in the U.S.? I know there are already a few topics about this issue, but I only brought it back up because I had an ipdate from the DCA. |
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Bedrock of the Community
13014 Posts |
Im completely opposed to cheaper metals, coins should feel like coins not plastic. Id rather see the penny die than have some weightless penny.
I dont really understand the logic of making the half smaller than a nickel either. Like the penny Id rather see it ended that miniturized personally. Its size and weight is one of the draws for collectors imo. Even in Australia that uses them its their biggest coin
But if I wanted a bill to pass the last place I would attach it is anything to do with a budget since we havent had one of those in 5 years.
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Bedrock of the Community
United States
17884 Posts |
The DCA may be looking at the eventual elimination of the Two dollar bill for a coin but I don't see it happening at this time. It would also probably be a mistake to try. You try to put too many changes into one bill you run a greater risk of having the whole thing dumped. Second possibility is that amendments will wind up accepting some of the changes and eliminating others. You could wind up with a new dollar coin and two dollar coin approved without the withdraw of the notes. Net result being two more failed coin programs. Any composition or size change is going to result in screams from the vending machine industry. So it would be best not to make changes there until absolutely needed. Any changes to the smaller coins will probably require new coin mechanisims and greatly increase complications since they will have to be able to accept both the old and new coins.
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Pillar of the Community
United States
1796 Posts |
In order to really fix the problem and to give our coins the same purchasing power they had 60 years ago, we need to add a "0" to the end of each denomination and eliminate corresponding bills.
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Moderator
 United States
188213 Posts |
Kill off the cent and dollar note now. Considering killing off the nickel in the next few years.
For now, leave everything else alone. Wait a few years before trying to swap the two dollar note for a two dollar coin (Canada waited nine).
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Pillar of the Community
United States
624 Posts |
I would also welcome a decision to never put another politician on US currency. I think the currency obtains a political coarseness when we put political figures on currency. I think it's okay to ride out what we're stuck with now and phase them out over time...
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Pillar of the Community
Canada
2805 Posts |
Quote:
Im completely opposed to cheaper metals, coins should feel like coins not plastic. Id rather see the penny die than have some weightless penny. Copper has a density of 8.96 g/cm^3, zinc's at 7.14 g/cm^3. Titanium has a low density (4.506 g/cm^3) and yet it trades for $10.25 a pound today, surpassing copper's $3.17 per pound. Then there's radium, which has the unremarkable density of 5.5 g/cm^3 and yet trades for about $100 per milligram (or $50,000,000 per pound, if any bit of pure radium large enough to be seen wouldn't generate enough heat to vaporize itself). You might associate zincolns or MPPS with "cheapness", but scientifically, any correlation between density and value exists entirely in your head. |
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Bedrock of the Community
13014 Posts |
Quote:
ou might associate zincolns or MPPS with "cheapness", but scientifically, any correlation between density and value exists entirely in your head. I know metal isn't valued by its density that wasnt my point. My point is a coin should have some weight to it. Ultralight metals (cost wouldnt allow any you named would be used for circulation anyway) feel like play money not a coin when it doesn't feel like anything is in your hand If your going that route you might as well go with go cheap plastics that you could easily mass produce and really cut back on costs Edited by basebal21
04/28/2013 02:59 am
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Valued Member
United States
186 Posts |
The penny elimination should be left up to individual stores if they want to round up or down their prices and not have congress decide on the cent. If all stores join together on doing this or a big portion did, then the mint would not have to make so many pennies..... I would doubt if this would ever happen because profit margins are so small and what looks better ..... $1.49 or $1.50
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Pillar of the Community
Canada
746 Posts |
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Pillar of the Community
 708 Posts |
What about steel halves, dollar and (possibly $2 coins in the future) As far as I know, even though Canadian halves are made in small numbers, like U.S. halves are now, and the U.S. doesn't have a $2 coin (yet) Canadian half, $1 and $2 coins are now made out of mulyi-plated steel, plated with copper, nickel and zinc, I believe (although I don't know what order of the metals that are plated onto their steel coins)
Also, won't steel coins mess up vending machines and cause major changes to be needed? Because I was thinking that the vending industry might have to replace major parts on their machines, and I thought while they were doing this, would be the perfect time to try to get them to upgrade to accept and dispense halves just like any other coin, seeing as they would be doing other major work to their machines at the time, so, whats a little more work to possibly increase profit even if only slightly?
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Bedrock of the Community
13014 Posts |
Quote:
Has anyone seen this US article posted today? I really hope that fails. That would kill modern coin collecting imo. The steel pennies are amazing because of their story behind them, theyre also really hard to find a true beauty. Without that story however they lose their uniqueness |
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Moderator
United States
188213 Posts |
A very bad idea.  Even worse, the bill requires changing the dime and quarter as well. I repeat... Kill off the cent and dollar note now. Considering killing off the nickel in the next few years. For now, leave everything else alone. Wait a few years before trying to swap the two dollar note for a two dollar coin (Canada waited nine). |
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Pillar of the Community
708 Posts |
jbuck,
And I have something to repeat:
Get rid of nickels, quarters, and reintroduce the 20 cent coin to replace the quarter (you have to get rid of the quarter or else you can't make change for them without the nickel), and round to the nearest dime, get the half back into circulation, AND issue new $200 bills and reissue the $500 and $1,000 bills, then, around the year 2020 issue a $2,000 bill and reissue the $5,000 and $10,000 bills. Maybe around 2020, also kill the $5 bill for a $5 coin as well.
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Pillar of the Community
United States
4901 Posts |
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Pillar of the Community
708 Posts |
Foxwoods Man,
That picture made me laugh. Ha ha ha!
Anyway, any thoughts on why they don't want to make steel halves and steel dollar coins as well? I know I already asked this, but no one seemed to have an opinion on it. Even though Canada now makes all of their general circulation coins out of multi-plated steel, including their halves, $1 and $2 coins, even though the Canadian half seems to have even less of a circulation rate and availability than U.S. halves and $1 coins do, why not also make the limited amount of U.S. halves and dollar coins the U.S. Mint mints each year out of steel as well?
I'm not so totally sure about supporting steel dimes and up, but maybe steel cents and nickels, or why not stainless steel coins? Wouldn't stainless steel be cheaper than copper, zinc and nickel coins? (I know there would be no way to save money on minting ANY composition cent, but still, if we are going to mint them regardless, how about stainless steel for ALL coin denominarions, including a copper-plated stainless steel cent, nickel-plated stainles steel nickels, dimes, quarters and halves, and brass-plated stainles steel dollar coins?)
Just my .02
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Replies: 20 / Views: 3,513 |
Posted 04/26/2013 09:56 am
