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$1 & $2 Coin materials change


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According to an article in CoinWorld the RCM has gotten permission to change the composition of the dollar and 2 dollar coins to match the layered steel used in the other coins. Supposed to save them a bunch of money. Also the article mentioned that the metal harvesting program at the RCM where old coins are melted for their metal content is still in full swing and producing great results. The content change for dollars will allow these coins to be harvested as well producing even more revenue and savings.

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I'm with the critics in saying that steel is a cheap metal and shouldn't really be used for high denominations.

 

Modern fiat money is basically just tokens anyway. It's going to be subject to inflation no matter what it's made of. Just another way for the mint to save/make some more money.

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Modern fiat money is basically just tokens anyway. It's going to be subject to inflation no matter what it's made of. Just another way for the mint to save/make some more money.

 

True, but I wouldn't want to be a vending machine operator. With all three made of steel, what really would be the difference between the 50c, $1, and $2? I have a feeling some older machines won't be able to cope.

 

I remember one place I worked at last had its vending machine calibrated in the late 90s, so it only took toonies, loonies, nickel 25c, 10c, and 5c, and the copper-nickel 5c. It was hilarious watching people people get confused as to why it spat most quarters out, including of course the ones it gave out in change that it was loaded with by the operator.

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