| Author |
 Replies: 24 / Views: 3,845 |
|
|
|
Pillar of the Community
United States
6130 Posts |
IMO:
1) Increase the relief of cents and nickels, switch the cents back to 95% copper, slash mintages by 90%. Maybe use some of the cost to subsidize Coinstar or help banks fund coin counters? There are billions of cents and nickels out there... let them circulate!
2) Every few years when Congress asks the Mint to experiment with patterns in different compositions (only to make no changes, as normal), auction off the patterns to private collectors. Imagine the revenue!
|
|
Pillar of the Community
United States
2271 Posts |
Quote:
There are billions of cents and nickels out there... let them circulate! It's impossible to "make" pennies circulate because they have no value. They are toxic little slugs that cost more to count and handle than their face value. Every time a store takes one in they are poorer and every time one is produced the nation is poorer. People will simply continue to use them as litter, throw them in the trash and accumulate them by the bucketful and nothing will change that other than a few decades of severe deflation. The only legitimate function of the "five cent piece" is to make change otherwise it could be discontinued as well. The penny is an stinking albatross tied about the neck of the economy. Time don't fly, it bounds and leaps.
|
|
Moderator
  United States
188770 Posts |
 Kill the cent already. I know it is a lot to ask, but stop being stupid, America.  As for the five cent piece, the topic at hand, it is true that the quarter is what makes it necessary, but I think we could get along without it. A material change is long overdue, but it would be way cheaper to just get rid of it with the cent. |
|
Pillar of the Community
United States
997 Posts |
While of course nothing will be done there are a couple alternatives. My favorite would be to get rid of the penny now, introduce a 20 cent piece and a year or so later drop the quarter. The drop the nickel and introduce a smaller version of the half dollar.
Option 2 is to revalue the dollar by a factor of 10, making the penny worth what a dime is now etc. This brings us back to about how things were about 1960ish.
Option 3 is to leave well enough alone and wait until coins are obsolete and replaced by other forms of small purchase protocols.
|
|
Pillar of the Community
United States
2023 Posts |
Quote:
Option 2 is to revalue the dollar by a factor of 10... Revaluing is not going to happen. If all we had were tangible currencies, it would be easy. But with everything digitized, it's way too much effort to make a seamless transition flawlessly. Imagine the lawsuits when someone suddenly is worth 10% what they were yesterday because of a coding error. Besides, in a virtual economy, they're all just numbers and there's no good reason to change just to suit the diminishing tangible currencies. |
|
Moderator
United States
188770 Posts |
Revaluation is a non-starter. Just get rid of the cent and nickel, dime is the new cent. Get rid of the one dollar note, the dollar coin is the new dime. Done and done.  |
|
Bedrock of the Community
United States
17884 Posts |
Quote:
1) Increase the relief of cents and nickels, Strike quality just went into the toilet. Quote:
switch the cents back to 95% copper, It just got even worse. Quote:
slash mintages by 90%. Massive cent shortages Quote:
Maybe use some of the cost to subsidize Coinstar or help banks fund coin counters? You just made the cents cost three to four cents a piece to make, and you also want to fund coin counting machines for all the banks? So far you have increased expenses, read that as losses, on the cent and nickel about 50 fold. Quote:
There are billions of cents and nickels out there... let them circulate! There is nothing stopping them from circulating now other than the fact that people won't use them because their value is so low it isn't worth carrying them. Edited by Conder101
06/29/2018 8:18 pm
|
|
Rest in Peace
10197 Posts |
I must agree fully with Conder on these points, there is no way in our economic structure and formation of gubmint bureaucracy, that will allow any easy fixes of these problems. Laws are involved, special interest is involved...until those change...  We will have expensive change! This is the change ya got, remember?  omebody's gotta pay for it! Edited by Crazyb0
06/29/2018 8:29 pm
|
|
Moderator
United States
188770 Posts |
Quote:
There is nothing stopping them from circulating now other than the fact that people won't use them because their value is so low it isn't worth carrying them. |
| |
Replies: 24 / Views: 3,845 |
First Page
Posted 06/28/2018 3:48 pm
