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 Replies: 22 / Views: 2,717 |
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Bedrock of the Community
 United States
12817 Posts |
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Pillar of the Community
United States
2023 Posts |
Figures this would come from someone representing a steel-heavy district. The comments at that site make some interesting points, mostly against this legislation -- e.g. that our clad coins don't have a counterfeit problem, and steel coins would be harder to distinguish from other countries' that also use steel.
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Moderator
 United States
188105 Posts |
When will these bozos learn that the cent is beyond saving?  |
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Bedrock of the Community
 United States
12817 Posts |
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Figures this would come from someone representing a steel-heavy district. Yes, that crossed my mind as well. And, I read many of the comments too. Agree with the anti counterfeit arguments and the durability arguments. Also, when will these same bozos learn that it's not "taxpayer dollars"? Not that we wouldn't want to make coins as frugally as possible no matter where the money is coming from, but... "taxpayer dollars" gets thrown around all the time on this discussion. |
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Moderator
United States
188105 Posts |
 Yes, the mint is self funded. Yes, their profits go back to the general fund, but they have never been used to lower the burden on the taxpayer.  |
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Rest in Peace
10197 Posts |
Two words that are an oxymoron: government and efficiency. It matters little where money comes from, it's all how it flows out. Any less than uneducated idiot knows that you cannot spend more than you take in without consequences, i.e. living within a BUDGET!
Until then, all proposed legislation for any topic becomes moot.
There was a reason the Fugio cent said "Mind your Business!"
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Moderator
United States
54280 Posts |
Steel coins are bad, but zinc coins are worse.
I am embarrassed by our one cent coins, mostly by the ratty, corroded ones.
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Moderator
United States
188105 Posts |
I am embarrassed by our one cent coin, knowing it cost more to make than it is worth. |
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Moderator
United States
54280 Posts |
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I am embarrassed by our one cent coin, knowing it cost more to make than it is worth. Think about the fact that a cent gets used (spent) thousands of times per coin. Their true value isn't in the metals within, but in the utility of facilitating financial transactions over and over again. The real waste of money is in $1 bills that wear out in a relatively short period of time, and have to be printed again and again. |
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Pillar of the Community
United States
2130 Posts |
I have to agree. The dollar coins are a waste. I'd rather carry 5 $1 bills over one coin. and yes there isn't any longevity to the coins.
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Pillar of the Community
United States
4211 Posts |
There is no reason at all to keep the cent.
It has zero purchasing power.
Penny candy is long gone from drug store counters.
It only benefits what ever industry that the metal comes from...right now zinc.
Just get rid of the darn things and be done with it already.
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Bedrock of the Community
United States
12817 Posts |
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Think about the fact that a cent gets used (spent) thousands of times per coin. If that's true why are they minting billions of them annually? Shouldn't we already have sufficient stores? In the years 2010-2013, over 12 billion cents were made. Cents received as change rarely get recycled into the next transaction (spent). They get thrown into people's change coffee cans to be dumped at the bank or Coinstar once every 5 years, or worse, thrown away all together because they have no buying power. Thus, they need to be eliminated. Quote:
The dollar coins are a waste. They are unsuccessful only because Americans continue to cling to the $1 paper note. They are indeed a waste while the $1 note is being printed. Which is why they are no longer minted for circulation. |
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Moderator
United States
188105 Posts |
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Think about the fact that a cent gets used (spent) thousands of times per coin. This is false. Most cents are used one time then tossed aside. Like CK said, they have to mint billions for a reason. |
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Moderator
United States
188105 Posts |
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The real waste of money is in $1 bills that wear out in a relatively short period of time, and have to be printed again and again. Quote:
I have to agree. The dollar coins are a waste. I'd rather carry 5 $1 bills over one coin. and yes there isn't any longevity to the coins. I do not think you read that correctly. The dollar bills are the waste and the dollar coins have way more longevity. |
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Bedrock of the Community
United States
94367 Posts |
They have a particularly long life sitting in bank vaults.
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Moderator
United States
188105 Posts |
Sitting in vaults they will last forever. Remember how well those GSA Morgan dollars looked after they were finally freed.  In the wild they will last decades. Just look at all of the 60 year old nickels we still see floating around.  |
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Replies: 22 / Views: 2,717 |
Posted 04/26/2017 2:35 pm
