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Mint Considers Changing Composition of Change


jlueke
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thats what i dont understand sure they wont lose money if they change it but.. if the mint stops using copper and nickle ect thats alot of metal not being used wont those metals fall in price????

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When you factor inflations affect on the purchasing value of coins, the present dime is the equivalent of a 1960's cent. We got by in the 1960's without fractions of cents in circulation. Therefore in my opinion why not just eliminate the cent and nickel as their purchasing power is nil. Their real cost is in having them in circulation they cost even more than the mint production when you factor how much labour is involved in handling them for transactions.

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When you factor inflations affect on the purchasing value of coins, the present dime is the equivalent of a 1960's cent. We got by in the 1960's without fractions of cents in circulation. Therefore in my opinion why not just eliminate the cent and nickel as their purchasing power is nil. Their real cost is in having them in circulation they cost even more than the mint production when you factor how much labour is involved in handling them for transactions.

Or we could revalue the dollar by a 10:1 ratio :ninja:

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odd.. everytime i open that link my browser quits.

Same here when I use Safari. With Firefox it worked for me.

Also have a look at the press release: http://www.house.gov/apps/list/press/finan...ss0803072.shtml

 

What I find a little strange is that, according to this bill, it would by and large be up to the US Mint to decide about the composition of circulation coins - but it could still not change their sizes. Making the half dollar (yes, there is such a denomination :ninja: ) smaller, for example, could help reducing the amount of material needed for quarters ...

 

Christian

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