Jump to content

Newer Coins Dissolving In The Ground


Recommended Posts

16 hours ago, mebeep said:

Here's a link to Silver Wolverine discussing the introduction of new legislation to possibly change the metal composition of more U.S. coins.

Any legislation like this looks kind of ridiculous if it doesn't at least propose getting rid of the one cent coin completely.  Even with that, though, consider that according to the video even the USA 5 cent coin costs about $0.06 each over face value to produce.  Assuming 1.5 billion minted per year that's around $90 million per year.  "Save taxpayers money?"  The USA federal budget is ~$1 trillion annually, so they are talking about saving 0.01% (a part in 10,000) of it to get the cost down to break-even on that coin's production.  Sounds like window-dressing / vote generating legislation to me.

And this doesn't even address the fact that 'paper' (plastic?, digital??) transactions are taking over the commerce of the world.

Even USA metal detectorists would be thrilled if they'd stop producing Zincolns altogether.  I'd rather find a beaver tail than a Zincoln -- I'm not exaggerating.

  • Like 3
Link to comment
Share on other sites


1 hour ago, GB_Amateur said:

...

Even USA metal detectorists would be thrilled if they'd stop producing Zincolns altogether.  I'd rather find a beaver tail than a Zincoln -- I'm not exaggerating.

True, zincolns are the government's curse on detectorists, but if they stopped producing them imagine how collectible a zincoln would be in a few years because most of them would'nt survive in the ground. 😉

  • Haha 1
Link to comment
Share on other sites

The Australian situation is .......1c and 2c coins will continue to be legal tender: they can still be used to purchase goods and can be deposited with financial institutions in the normal manner." Both coins were withdrawn from circulation commencing in February 1992.

  • Like 2
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...