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DL20K's Avatar
Poland
3201 Posts
 Posted 07/14/2008  12:14 pm Show Profile   Bookmark this topic Add DL20K to your friends list Get a Link to this Message Number of Subscribers
Why are there more dimes than nickels?

The rule is that they mint fewer nickels than dimes (there were some exceptions though, e.g. 1965-67). From 1964 till 1990 only four times the nickels mintage exceeded 750 million, while at the same time for dimes - it was 15 times over that figure.

Why is that so? Is the nickel.. less useful or what?
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jbuck's Avatar
United States
187702 Posts
 Posted 07/14/2008  12:19 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I think it is because it costs a lot less to make a dime than it does a nickel, at least since 1965 when silver was removed from the dime.

IIRC, it currently costs more than $.07 to make a nickel, while a dime only costs about $.04.
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Kabiye_Lady's Avatar
United States
581 Posts
 Posted 07/14/2008  12:22 pm  Show Profile   Bookmark this reply Add Kabiye_Lady to your friends list Get a Link to this Reply
OK. This is a math question. I bet if you take all the combinations of buying something and getting change back from $1, you're likely to get more dimes than nickels. I'm sure there's a reason.

Personall, I collect pocket change and I've said to myself several times that I certainly don't end up wtih as many nickels as dimes at the end of the day.
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jbuck's Avatar
United States
187702 Posts
 Posted 07/14/2008  12:26 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I bet if you take all the combinations of buying something and getting change back from $1, you're likely to get more dimes than nickels. I'm sure there's a reason.
Interesting idea! Now I need to test that theory...

Quote:
Personall, I collect pocket change and I've said to myself several times that I certainly don't end up wtih as many nickels as dimes at the end of the day.
I am inclined to agree.
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KurtS's Avatar
United States
5318 Posts
 Posted 07/14/2008  12:28 pm  Show Profile   Bookmark this reply Add KurtS to your friends list Get a Link to this Reply
I've simply given up reasoning why the US Mint does anything.
Taxay's book on the Mint pretty well documents the insane policies behind coining.

Remember pay phones? Those once took a dime to make a call--maybe the dime once favored the vending industry.
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jbuck's Avatar
United States
187702 Posts
 Posted 07/14/2008  12:43 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Interesting idea! Now I need to test that theory...
Okay, I calculated every "proper" change combination from $0.01 to $0.99. By proper, I mean $0.40 is a "quarter, nickel, and dime" and not four dimes. This is what is required to represent all 99 possible combinations at one time:

200 Cents
40 Nickels
80 Dimes
150 Quarters

$49.50!
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DL20K's Avatar
Poland
3201 Posts
 Posted 07/14/2008  12:53 pm  Show Profile   Bookmark this reply Add DL20K to your friends list Get a Link to this Reply
wow, jbuck - great job, this proves that indeed more dimes are needed!
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halfabustisbetter's Avatar
United States
1984 Posts
 Posted 07/14/2008  1:02 pm  Show Profile   Bookmark this reply Add halfabustisbetter to your friends list Get a Link to this Reply

Quote:
OK. This is a math question. I bet if you take all the combinations of buying something and getting change back from $1, you're likely to get more dimes than nickels. I'm sure there's a reason



Quote:
Okay, I calculated every "proper" change combination from $0.01 to $0.99. By proper, I mean $0.40 is a "quarter, nickel, and dime" and not four dimes. This is what is required to represent all 99 possible combinations at one time:


Exactly! Occam's razor rules! The simplest answer, or way to make change is the best answer, therefore the mintages should (roughly) reflect this.
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jbuck's Avatar
United States
187702 Posts
 Posted 07/14/2008  2:55 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Now lets look at it this way, as a ratio to nickels...

200 Cents = 5:1
40 Nickels = 1:1
80 Dimes = 2:1
150 Quarters = 3.75:1

Now using 2007 mintage figures...

Cents -- 7,401,200 -- 6.17:1
Nickels -- 1,197,840 -- 1:1
Dimes -- 2,089,500 -- 1.74:1
Quarters -- 2,796,640 -- 2.33:1

And the 2006 mintages...

Cents -- 8,234,000 -- 5.48:1
Nickels -- 1,502,400 -- 1:1
Dimes -- 2,828,000 -- 1.88:1
Quarters -- 2,941,000 -- 1.96:1

The theory falls a little out of favour, but there are other factors to consider, such as previous years mintages and the estimated circulating population of each denomination.

I suppose this is probably close enough for government work, right?

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United States
201 Posts
 Posted 07/14/2008  4:30 pm  Show Profile   Bookmark this reply Add Steamwalker to your friends list Get a Link to this Reply

Quote:
OK. This is a math question. I bet if you take all the combinations of buying something and getting change back from $1, you're likely to get more dimes than nickels. I'm sure there's a reason


I believe that's because if we stay to the least amount of coins to make change, you could potentially only have up to one nickel as change but up to two dimes.
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jbuck's Avatar
United States
187702 Posts
 Posted 07/14/2008  4:59 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I believe that's because if we stay to the least amount of coins to make change, you could potentially only have up to one nickel as change but up to two dimes.
Correct.

In my analysis, all 40 nickels are used singly. Of the 80 dimes, 40 are used singly, while the other 40 are in pairs.
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