| Author |
 Replies: 40 / Views: 5,174 |
|
|
|
Moderator
 United States
188560 Posts |
I am with Bret on this! 100%!  |
|
Pillar of the Community
United States
883 Posts |
Foil wrapped chocolate coins it is! Yum!
|
|
Moderator
United States
188560 Posts |
Quote:
Foil wrapped chocolate coins it is! Yum!   |
|
Pillar of the Community
United States
3647 Posts |
I doubt that we will see replacement of the CNC dimes and quarters. They have proved to be exceptionally durable. I remember how badly worn most pre-war Washington quarters were when the CNC coinage replaced them, and a 1932 quarter was only 33 years old then. The 1965 CNC quarters are now 55 years old, and very few would grade below VF-20. They are shrapnel, but extremely durable shrapnel. The future zinc-oxide-for-surfers'-and-lifeguards'-noses Zincolns? Not so much so. [soapbox] I'm all in for eliminating the cent, nickel, and half dollar, as well as all paper money. Plastic microchipped one dollar and five dollar coins, and a heavy bimetallic twenty dollar coin could handle all of the cash trade needs. I've argued this at length before, but eliminating paper money and replacing it with heavy coins would also deter street-level drug dealing. [/soapbox] Edited by fortcollins
12/10/2020 7:13 pm
|
|
Moderator
United States
188560 Posts |
Quote:
I doubt that we will see replacement of the CNC dimes and quarters. They have proved to be exceptionally durable. Agreed. The real issue are the cents and nickels. Both need to go NIFC, and if the cent is NIFC, might as well go back to bronze like we had in 2009. |
|
Pillar of the Community
United States
3207 Posts |
Eliminating cents and nickels forces rounding to the nearest dime, but that makes quarters less useful since they round to the nearest 10 cents only in pairs. I'd say while at it, eliminate the dime too and round to the nearest quarter.
Or, the less costly way is to surprise-release the New Dollar, which is worth 10 old dollars, and not worry about coins suddenly being worth 10x what they had been because, compared to the total US economy, their total value is too small. If the $3.24 worth of coins in Aunt Betsy's purse is suddenly worth $32.40, so what, heck, earlier in the year the gov't had sent her a free $1200 check.
|
|
Moderator
United States
188560 Posts |
Quote:
Eliminating cents and nickels forces rounding to the nearest dime, but that makes quarters less useful since they round to the nearest 10 cents only in pairs. I'd say while at it, eliminate the dime too and round to the nearest quarter. That is not a terrible idea.  Quote:
Or, the less costly way is to surprise-release the New Dollar, which is worth 10 old dollars, and not worry about coins suddenly being worth 10x what they had been because, compared to the total US economy, their total value is too small. If the $3.24 worth of coins in Aunt Betsy's purse is suddenly worth $32.40, so what, heck, earlier in the year the gov't had sent her a free $1200 check. This will never work and it will never happen as there is absolutely no need for this at all. None. Nada. Zilch. Zero. Most of us modern collectors would then have a collection worth only face value. Sure, technically worth more, but the psychological affect would sting.  Now, a more realistic solution is to build a time machine, go back to 1875, and get them to dump the quarter when they introduced the double-dime. Their biggest mistake was allowing them to co-exist.  Sound familiar? (Looking at you, dollar bills and coins). We learn nothing and deserve every bit of crap we get.  |
|
Pillar of the Community
 United States
4592 Posts |
The Senate committee on Banking, Housing and Urban Affairs has 100s of other bills and startlingly few days to work on things, oh, including the Morgan/Peace Dollar act. https://www.banking.senate.gov/-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
|
Bedrock of the Community
United States
17884 Posts |
Quote:
Most of us modern collectors would then have a collection worth only face value. Sure, technically worth more, but the psychological affect would sting. Oh I don't know I think they might like it. Take for example all those State Quarter collections. Face value is $25, retail value $27. The new face value would be $250. |
|
Moderator
United States
188560 Posts |
Quote:
Oh I don't know I think they might like it. Well, things do get roser for those heirs who just dump these coins at the bank. |
|
Pillar of the Community
United States
3207 Posts |
A 10x dollar revaluation only brings us back to a value last seen during the 1960s, but at least cents and nickels would be useful again instead of throw aways on the verge of mintage elimination.
|
|
Moderator
United States
188560 Posts |
It will also throw off a generation of people who are used to the new prices. The price of a new car went from $15,000 to $30,000 since I started driving. Now that new car would be $3,000?  Everything would need to be repriced. Everything. Just to shift a decimal point and make our worthless change worth something. This is way more trouble than it is worth. Just get rid of the stupid cent an nickel already. Most transactions are electronic anyway, so more often than not rounding is not even an issue. |
|
Pillar of the Community
United States
1913 Posts |
Exactly. There's no need to debase the currency. We're not living in a hyper-inflationary environment. Just get rid of the cent and nickel, but keep them for mint sets.
Edited by Bret
12/15/2020 5:10 pm
|
|
Moderator
United States
188560 Posts |
Quote:
but keep them for mint sets. Amen! It has worked for the half dollars and my albums are thankful. Oh, and feel free to make those cents bronze like they were in 2009.  |
|
Bedrock of the Community
Australia
21788 Posts |
Non magnetic stainless steel or Chrome plated steel could be 'in' for Dimes and Quarters.
Other countries have had coins in circulation with these metals for decades.
Nevertheless copper plated zinc is already about as close as it is possible to go to 'scraping the bottom of the barrel' for Pennies. I don't think that the Public would ever accept plastic coins, as they do with credit cards right now.
Looking further into the future, coins of larger denominations could be the norm, due to inflation.
NCLT in valuable metals should be largely unaffected by these developments as long as collectors want them, and mints can make a profit out of this sort of product.
Some countries are seriously considering introducing their own national digital currencies (something like Bitcoin) and getting rid of coins, notes and plastic cards completely. Could be a convenient way of ignoring the growing national debt.
However, beware of the compulsory 'mark of the beast' to be able to buy and sell.
|
| |
Replies: 40 / Views: 5,174 |
First Page
Posted 12/08/2020 6:38 pm
