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 Replies: 52 / Views: 4,234 |
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Moderator
 United States
187446 Posts |
I cannot remember the last time I used a penny in a Gumball Machine. Must have been at a K-mart in the 1970s.  |
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Pillar of the Community
United States
996 Posts |
The most practical solution pending the eventual death of coins altogether is to eliminate the penny, nickel and quarter. Reduce the size of the half and dollar and make all three remaining coins of plated steel. This allows for 3 simple coins with all purchases rounded to the nearest dime. Accidentally this makes them compatible with Canadian coins.
TELL the coin machine industries (the few that are left) THAT the new coins are coming as of January 1, 2025 and they should ready to accept them. If they have Canadian operations they should be ready already.
The endless prattling about of minor changes in composition of the clad coins etc. just wastes everyone's time and resources. The whole reason we have the stupid clad composition in the first place (as well as the Zincoln) was to kow-tow to the business lobbies.
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Bedrock of the Community
United States
19106 Posts |
In the end, there should still be coins large enough to allow someone (with a good arm) to skip them across a pond or slow moving river.
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Pillar of the Community
United States
3207 Posts |
Not unreasonable, n9jig. Anyone serious about rounding to nickel/dime/quarter needs to contact the various states, NJ is one, that currently require rounding to the cent.
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Moderator
United States
187446 Posts |
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In the end, there should still be coins large enough to allow someone (with a good arm) to skip them across a pond or slow moving river. Works for me.  Quote:
Anyone serious about rounding to nickel/dime/quarter needs to contact the various states, NJ is one, that currently require rounding to the cent. I have said it before, Federal legislation would override this; not that we are any closer to getting the folk in DC to do something than we are those in Trenton. |
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Valued Member
United States
425 Posts |
I do not support getting rid of the cent or the nickel. How about another topic? This one is beyond old. The impact on federal spending and the budget is infinitesimally small.
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Valued Member
 United States
449 Posts |
Okay then, how about we get rid of the stupid gold dollar coins that nobody uses?  |
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Moderator
United States
187446 Posts |
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I do not support getting rid of the cent or the nickel. As is your right.  Quote:
How about another topic? There are over 400k topics you can choose to read other than this one. Just saying.  Quote:
This one is beyond old. It will die when the penny dies.  Quote:
The impact on federal spending and the budget is infinitesimally small. It all adds up though. |
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Moderator
United States
187446 Posts |
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Okay then, how about we get rid of the stupid gold dollar coins that nobody uses? Stop printing the dollar and they will flood out from the vaults. |
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Pillar of the Community
United States
674 Posts |
I wouldn't say no one uses them, I spend them on occasion. |
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Valued Member
United States
232 Posts |
Do people give you a strange look and ask, "What the heck is this?" Especially if it's a young 'un. They don't use cash, let alone coins, so they've probably never seen one.
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Pillar of the Community
United States
3207 Posts |
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I have said it before, Federal legislation would override this; not that we are any closer to getting the folk in DC to do something than we are those in Trenton.
From https://www.usmint.gov/about Quote:
The mission of the U.S. Mint is to serve the American people by manufacturing and distributing circulating, precious metal and collectible coins and national medals, If the mint, by new Fed law or otherwise, were to refuse to make coins that are necessary to facilitate state laws, the mint's mission would need to change from one of serving the wants and needs of the people to one of deciding what the people should have. That represents a dramatic shift, perhaps one that is arguably now needed. Edited by nick10
05/17/2023 2:21 pm
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Moderator
United States
187446 Posts |
The Mint does not serve the States. Congress can pass the law, the Mint would have to oblige, and the States would have to suck it up. That is how a federal government works.
It is Congress, not the Mint that would be making this choice for the people. The Mint could try to get away with nixing the cent, but Congress would probably intervene. If we want to get rid of the cent, it is Congress that needs to take action.
Keep in mind, the Mint does not do anything directly to satisfy the demand for circulating coins (unless someone is foolish enough to buy them direct from the Mint at a premium). It is the Federal Reserve, which tries to satisfy demand from the banks, which tries to satisfy demand from their customers. The Mint is just the mint and they have to provide what the FR wants so long as the law allows it.
In the past I have joked that the Mint would just "lose the order" for cents from the Fed, or the Fed could tell the banks to beat it, but neither has the courage (or reason) to do so.
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Pillar of the Community
United States
3207 Posts |
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The Mint does not serve the States. But what are States if not groups of people the mint, according to its mission, serves? Most dictionaires define state as "a people permanently occupying a fixed territory bound together by common habits and custom into one body politic" or similar wording. The mint's self-stated mission is to serve those people. Yes. Congress could change that, of course, but such presents a radical departure from how the coinage system has operated for the past 200+ years. |
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Moderator
United States
187446 Posts |
I am sorry, but that is not how it works. We have a federal system with a representative government. There is no direct democracy. The "American People" served by the Mint are the representatives of the people, not the people directly. And it is only the federal representatives in Congress, not those state legislatures or other local governments.
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Replies: 52 / Views: 4,234 |
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Posted 05/16/2023 12:11 pm
