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 Replies: 15 / Views: 2,213 |
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Pillar of the Community
708 Posts |
The title of this thread was supposed to be "If the nickel gets phased out, how would we make change for a quarter?"
I know I have said, "Eliminate the quarter and bring back the fifth" but this could be an expensive reprogamming issue for both vending and self checkout machines to recognize a new denomination, if it could even be done with the current machines. Many may need to be replaced for machines that could recognize a fifth, reject a quarter, but while they were at it, like I said, why not go all the way and make the new machines recognize halves, $1 and $2 coins? I suppose stores could price items so that the total of your bill could be rounded either to the nearest dime, or the nearest quarter, but, wouldn't that be kind of confusing?
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Moderator
 Australia
16805 Posts |
The simple answer to your question is, of course, "You can't". If you get rid of the 5 cent coin, you would also have to either get rid of the 10 cent coin as well, or replace the 25 cent coin with a denomination divisible by 10 - either 20 cents or 50 cents would work.
Since the 10 cent coin is eventually going to have to be replaced anyway, it may as well wait until that needs to happen. But either way, I can't see it happening without a complete redesign of America's coinage system. And if you're going to do that, you may as well wait for the introduction of the amero, or whatever it is that will replace the dollar.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Rest in Peace
United States
3039 Posts |
No worry-it won't happen soon.
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Pillar of the Community
United States
2270 Posts |
Make the nickel out of aluminum and demonetize it.
When people get used to it make a much smaller aluminum "nickel" and recall the big aluminum.
Time don't fly, it bounds and leaps.
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Pillar of the Community
Canada
2805 Posts |
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"If the nickel gets phased out, how would we make change for a quarter?" Very carefully. |
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Valued Member
United States
446 Posts |
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"If the nickel gets phased out, how would we make change for a quarter?" No need to. By the time that happens, all prices will be rounded to the nearest quarter. |
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Bedrock of the Community
13014 Posts |
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By the time that happens, all prices will be rounded to the nearest quarter. By the time we get to that point cash may be a rarity in all honesty. The bigger the rounding gap the more incentive to use credit or debit where things can still be charged to the cent |
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Pillar of the Community
United States
1391 Posts |
Cut it like in the old days.
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Pillar of the Community
Canada
2805 Posts |
The quarter is a silly denomination anyways, considering the $2 and $20 bills. I still advocate a holed fifth coin (and I'll keep mentioning this forever).
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Bedrock of the Community
Australia
21786 Posts |
Bye bye penny, the nickel will hang around for a few more years, to be made in stainless steel, or nickel bonded steel.
Stainless steel is easier to re cycle.
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Pillar of the Community
United States
996 Posts |
I think they will leave it pretty much the status quo and wait out the end of coinage altogether with some fairly minor changes in the mean time. The penny will eventually go away and the nickel will be changed to some sort of cheaper metal, perhaps nickel plated steel or zinc.
We are coming to the point where the purchasing value of coins is so low that they will become irrelevant and obsolete. Paper money is not that far as well and electronic transaction and value-cards will take over the rest of coin and currency transactions.
Coins are mostly used for making change for paper money these days already. The vending machines (laundry, snacks etc.) have in many cases already been made capable of using value-cards or are reaching the end of their usability and will or should be replaced with newer machines.
My prediction is that by 2025 coins will be obsolete in the USA and Canada. Paper money will follow soon after.
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Moderator
United States
187446 Posts |
Just get used to using a lot of dimes (well, at lest nine of them).  |
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Pillar of the Community
United States
5195 Posts |
Just round up and give all of your change to the government as it seems they need it.
I know Fox seems very well intentioned with his / her cause but how many threads do we really need on these topics?
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Pillar of the Community
Canada
2805 Posts |
My prediction is that coins will enjoy a diminishing but real usage for a long time, seeing the most use during periods when the integrity of the banking companies/infrastructure/nation is called into question or changed up.
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Valued Member
United States
388 Posts |
I think before we give up on the penny, we should take a zero off the value of everything. I'm mean really, why do we pay a dime now for a piece of bubble gum. When I was a kid, they were 2 or 3 for a penny. What has really changed since the early 70's? There is no shortages like they scared us with to raise the prices, why did they never go down again? I guess it's just greed.
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Bedrock of the Community
13014 Posts |
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why did they never go down again? Prices always go up over time because people dont want jobs where you make the same amount of money 20 years later as you did day one even if your doing the exact same thing. The structure of wages to increase and give raises over time has the effect of inflation prices as does increases to minimum wage. You cant really take a 0 off the price without doing the same to peoples bank accounts and wages as well if not more and people would never want that Edited by basebal21
10/05/2013 4:21 pm
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Replies: 15 / Views: 2,213 |
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Posted 10/01/2013 10:24 pm
