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 Replies: 21 / Views: 3,202 |
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Pillar of the Community
United States
996 Posts |
According to http://www.numismaticnews.net/artic...tion-changes there seems to be some serious investigation of future coinage composition in the USA. I would not be surprised if some sort of steel based coinage comes about by the time coins are totally obsolete. IMHO this would be a good time to re-imagine the coin sizes and styles to more match the value of the device but I am afraid that by the time the government gets around to doing something this radical there will be little use for coins less than $1. |
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Pillar of the Community
Canada
5417 Posts |
I guess they'll have to make coins from plastic then  Edited by zxcccxz
06/23/2014 08:43 am
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Moderator
 United States
187446 Posts |
Stop minting the nickel and the cent, problem solved.  |
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Pillar of the Community
United States
649 Posts |
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Stop minting the nickel and the cent, problem solved.  |
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Pillar of the Community
United States
964 Posts |
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?
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Valued Member
United States
76 Posts |
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.
We could stop making cents and nickels, but that is a just a reaction to the problem.
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Pillar of the Community
 Canada
9862 Posts |
Elimination of the nickel means the quarter must be replaced by a Twenty Cent coin. Ain't gonna happen any time soon. "Dipping" is not considered cleaning...
-from PCGS website
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Pillar of the Community
1325 Posts |
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.
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Pillar of the Community
United States
964 Posts |
How soon would it take for all 95% copper pennies to be extinct from circulation? In your opinion, if they did stop making the penny and nickel?
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Pillar of the Community
United States
5825 Posts |
95% copper CENTS are disappearing from circulation as fast as people can find them.
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Pillar of the Community
 United States
996 Posts |
Canada and other countries do well with steel coins.
I agree that elimination of the cent is forgone at this point. Replacing the nickel with a zinc or steel coin would negate the need for a 20 cent coin to replace the quarter, but maybe it is time to do it all in one fell swoop; eliminate the 1 and 5 cent coins, replace the quarter with a 20 cent coin, convert the dime, the new 20 center, dollar and a new $2 coin to steel and eliminate the $1 and $2 bills.
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Pillar of the Community
Canada
2805 Posts |
Everyone has their own pet proposal, but mine is to re-do everything in one go. The dime will be a small aluminum-bronze-plated-steel coin with a reeded edge, the fifth will be nickel-plated-steel have a hole in the center and a plain edge, the half will be smaller than the small dollar with a segmented-reeded edge, and the small dollar will stay the same (give it a break already). My idea for the $2 coin is a 13-sided bimetallic with a yellow-metal ring and gray-metal core, and $5 could be a yellow-cored bimetallic with excuse lettering on the edge (which is the devil to fake). This also leaves room open for an ambitious trimetallic $10 (imagine the United States leading the world with its coins for once!), maybe even with a silver center.
But the copper-plated steel nickel is already in the testing phase, so it's unlikely the U.S. Mint would abolish its darling child so soon after creating it. So total reform looks like it's out for the near future.
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Pillar of the Community
United States
964 Posts |
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95% copper CENTS are disappearing from circulation as fast as people can find them. Pennies is what comes on the boxes I get from the bank, so that is what I call them.  |
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Pillar of the Community
United States
1959 Posts |
Would a 13 sided coin work in vending machines? Anything other than round seems like a problem for coin operated machines. A holed coin for lower denominations and bi metallic for higher denominations seems like a legit start.
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Pillar of the Community
United States
996 Posts |
Canada has had good results with their 11 sided dollar coin. 11 and 13 sided coins have a consistent diameter and are a good substitute for round coins while providing a unique feel. This helps the visually impaired as well as machines.
I would have no issue with holed coins or some of the other suggestions presented here but I think the time is right for a general realignment of coinage and small bills. If we keep it reasonable number of bills and coins (5c, 20c, 25c, $1, $2 coins, $5, $10, $20, $100 bills) with relative sizing and distinguishing marks and a cost-effective process and composition the public should embrace it with a minimum of grumbling.
If there are large changes though the Mint will have to stock up on the new coins before they are released and you can bet that the old ones will be hoarded in fairly large amounts. Since metal prices are not out of the world like they were when the silver was removed in the 60's it shouldn't be a total catastrophe but you know that people are gonna want to keep a few of the "old style" coins for a while until they realize that they are only going to be worth face value for many years.
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Rest in Peace
United States
4078 Posts |
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Pennies is what comes on the boxes I get from the bank, so that is what I call them. You are correct but, no need to slam a fellow member using the correct definition. n9jig, this is a wait and see what will happen.IMHO |
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Replies: 21 / Views: 3,202 |
Posted 06/23/2014 10:01 am
