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 Replies: 52 / Views: 6,020 |
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Pillar of the Community
708 Posts |
Steve Caruso, Dollar Coins the size of dimes would be too small for comfort for me. If the Dollar coin were the size of the dime, then, what would the size of the half, the quarter and the dime? (Assuming we kept the dime and up, otherwise, what would be the size of the nickel and the penny as well?)
Also, when these lawmakers talk about "changing" the composition of U.S. coins, why don't they ever mention changing the metal composition of the half and the dollar coins? If the half and the dollar coin are currently minted for collector purposes only, wouldn't it make sense to stop minting them in expensive clad, and go to cheaper, steel?
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Bedrock of the Community
Australia
21786 Posts |
The only parties that should be allowed to lobby a government are the individuals who voted for or against it.
Large and financially powerful groupings should not be allowed to, because the you's and me's are then ignored.
Otherwise you have a distorted form of democracy.
After all, it's us that actually have to use the coinage!
Lobbying laws need to be changed to accurately reflect the people's wishes.
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Bedrock of the Community
United States
17884 Posts |
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IF you look up Stainless Steel you would find there are literally many hundreds of variations. Many are non-magnetic. You also find that they tend to contain either a lot of Nickel or Chromium which makes them cost as much or more than the coppernickel alloy eliminating the savings. Plated mild steel is a much better choice. Of course there is another problem with steel coins. They are harder than coppernickel and as mentioned cause rapid die wear, That means.....wait for it..... they will have to lower the relief significantly. Won't that be nice? |
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Pillar of the Community
Russian Federation
5172 Posts |
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OK, how many people have mentioned rust now? I live in a country where all coinage is made of plated steel, it doesn't rust. That's what the nickel plating does, it stops the coins from rusting. Next time someone pulls out a knife and fork, why not stare incredulously at them and ask "Steel-alloyed cutlery? But won't it rust?" This basically (though our 10 and 50 kopek denominations do kind of rust when placed in a wet area for long). I also have a bunch of (magnetic) stainless steel forks from the 1950s that haven't rusted at all, and an old nickel-plated steel fork from the 1940s that did rust in places - where the plating had worn off - but is perfectly usable anyway. (I don't collect forks; they're our regular cutlery.) |
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Pillar of the Community
United States
996 Posts |
While I am not a big fan of clad coins, they have actually served well in the last 50 years. They wear well, and do not provide any functionality issues. As has been stated many times, even if the material was free it would still cost more than a cent to produce the coin, for that reason the cent should be just eliminated altogether. Right-sizing US coinage will likely never happen by the time coins are totally irrelevant anyway so I think that eventually they are just going to eliminate the cent eventually and then the nickel. I would not be surprised to see the dime and quarter be the only circulating coins left by the end of this decade. |
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Moderator
 United States
187446 Posts |
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Steel is an American resource now? Is copper-nickel un-American? Will the terrorists win if we use zinc? There are so many questions... However, I'm also pretty sure that changing the composition of coins will lead to the destruction of the Constitution and the creation of a new fascist police state, so watch out It is a conspiracy!  Quote:
I wouldn't like the change in the middle of this series, but it would par for the course. As discussed before, this series has the 1 year satin finish and the 2012 - present S mint coins. Why not throw in a composition change as well? I did not want to mention that or give anyone any ideas.  Quote:
As has been stated many times, even if the material was free it would still cost more than a cent to produce the coin, for that reason the cent should be just eliminated altogether. Worth quoting again.  |
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Bedrock of the Community
United States
20753 Posts |
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You also find that they tend to contain either a lot of Nickel or Chromium which makes them cost as much or more than the coppernickel alloy eliminating the savings. Plated mild steel is a much better choice.
As already mentioned there are numerous varieties of Stainless Steels. Some use very little Nickel and/or Chromium. It all depends on how strong and/or how rust resistant or how anti magnetic you need to make them. For example during a massive road construction for a multilayered road all the embedded steel was a variety of Stainless Steel. That variety was made rather cheap since the amounts of expensive materials was kept to a minimum. This is the same thing that could be done to make coins. No rusting, anti magnetic, long wearing. |
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Pillar of the Community
708 Posts |
n9jig, If the dime and the quarter did become the only two circulating coins by the end of this decade, I'll bet that the half would definately circulate, just because of the available room in the cash registers. The dollar coin may even weasel it's way into some cash registers, even if we never get rid of $1 bills, just because they can. Some cashiers are happy to ask "Paper, or metal?"  Edited by Fox
02/04/2015 12:09 am
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Pillar of the Community
Russian Federation
5172 Posts |
Having a dime and a quarter as the smallest coins just isn't really plausible mathematically. If something is worth a dollar and someone pays with three quarters and three dimes (add some equal amount of dollars to both sides if you don't believe anything will be worth only a dollar), are they supposed to receive change, and if yes then which kind of change?
I can kind of imagine having an uncommon tiny 5-cent coin (perhaps the size - and composition for that matter - of the Russian 1 kopek) to be used in that kind of situations (though realistically, stores will just issue their own 5 cent tokens); but without a 5 cent coin (or common 5 cent tokens), a dime and quarter won't work - we'd have to get rid of one or the other.
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Pillar of the Community
708 Posts |
I still say, get rid of the penny, nickel, and dime. Use 25c, 50c, $1, coins, and issue $2, and $5 coins to replace the $1, $2, and $5 bills. Continue to issue $10, $20, $50, and $100 bills. And, issue $200 bills, and reissue $500 and $1,000 bills. Round prices and/or purchases to the nearest 25 cents.
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Pillar of the Community
United States
1796 Posts |
@Fox - ~60 years ago a dime was worth a dollar, and coins actually circulated. If we re-sized things and re-numerated them by adding a 0 to the end of all coin denominations (1¢->10¢, 5¢->50¢, 10¢->$1, etc.), and (as you said) eliminate all bills below $10 and replace with coins, we'd be on parity with where things were... and waste so much less. :-)
I may yet have to take out my handy chart again... But I'll wait. :-)
The size and/or color distinctions should be between the <$1 denominations and the ≥$1 denominations. This, of course, was originally the case when 10¢ and up were in silver, the nickel larger because cupronickel was worth less, and the penny in copper for the same reason.
Edited by SteveCaruso
02/04/2015 02:02 am
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Pillar of the Community
708 Posts |
@SteveCaruso
Okay. I can see what you are getting at, but, although you say we don't need it, I would prefer the reissue of the 20 cent coin if we went to this system, just as I would prefer a circulating 2 cent coin over two pennies today. But if you think that the coins should be revamped or redenominated, then so should the bills: $1->$10 bill, $2-> $20 bill, $5-> $50 bill, $10->$100 bill, $20->$200 bill $50->$500 bill, and $100->$1,000 (and $200->$2,000, $500->$5,000 and $1,000->$10,000, if you want to go all the way) Seeing as, a $1,000 bill, in 1960 was about a $100 bill, which would likely make a $1,000 bill a $10,000 bill back in 1960, so, why not bring back ALL large denominations. What may "seem" like a $10,000 bill would really be like a $1,000 bill. After all, someone once mentioned that, we will get larger bills again, in the future, but the values would not be any bigger. The only thing that would be bigger, would be the numbers on the bills.
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Pillar of the Community
United States
996 Posts |
I agree with Fox that the elimination of the nickel will make the remaining dime and quarter mathematically difficult. I think however for the short time the coins remain around that prices will be rounded and this wouldn't really make a whole bunch of difference.
I don't think that the half and dollar coins will ever regain their former glory however. The only way for this to happen would be a total re-imagining of circulating coinage which would never happen in these times.
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Pillar of the Community
United States
2563 Posts |
They do see what happened with the 1943s, right? They rust very rapidly.
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Moderator
United States
187446 Posts |
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I may yet have to take out my handy chart again... But I'll wait. :-) Do it. Do it!  |
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Replies: 52 / Views: 6,020 |
First Page
Posted 02/02/2015 11:38 pm
