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 Replies: 10 / Views: 1,007 |
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Pillar of the Community
Poland
3201 Posts |
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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Moderator
 United States
198516 Posts |
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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Pillar of the Community
United States
581 Posts |
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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Moderator
United States
198516 Posts |
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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Pillar of the Community
United States
5318 Posts |
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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Moderator
United States
198516 Posts |
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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Pillar of the Community
 Poland
3201 Posts |
wow, jbuck - great job, this proves that indeed more dimes are needed!
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Pillar of the Community
United States
1984 Posts |
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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Moderator
United States
198516 Posts |
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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Valued Member
United States
201 Posts |
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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Moderator
United States
198516 Posts |
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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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Replies: 10 / Views: 1,007 |
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Posted 07/14/2008 12:22 pm
