GB_Amateur Posted May 10, 2023 Share Posted May 10, 2023 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. 3 Link to comment Share on other sites More sharing options...
CPT_GhostLight Posted May 10, 2023 Share Posted May 10, 2023 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. 😉 1 Link to comment Share on other sites More sharing options...
geof_junk Posted May 11, 2023 Share Posted May 11, 2023 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 Both coins were withdrawn from circulation commencing in February 1992. 2 Link to comment Share on other sites More sharing options...
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