Pennies and Nickels maybe gone or way different with DOGE.
Clackamas1
Posts: 985 ✭✭✭✭✭
"Ernst is chair of the Senate DOGE Caucus, which she founded to make sure DOGE has “bite,” not just “bark,” she said.
Her proposed targets include:
"Pennies that cost three cents. The federal government even manages to lose money while literally making money: Pennies cost three cents to produce, and nickels cost 11 cents. They could be made from cheaper materials."
1
This discussion has been closed.
Comments
_They could be made from cheaper materials.
_
No;
They can't be made from cheaper materials. Nickels could be shrunk and made of aluminum but they've scraped the bottom of the barrel with zinc.
There is no material that can be fabricated for a cost less than one cent. Washers cost a dime now days.
Discontinue minting or printing all circulating coinage or paper currency & let existing coins circulate for years or decades. I carry no cash or coins. Lay off all those career civil servants that work at those facilities too. McDonalds needs more burger flippers.
My large bank no longer sources brand new currency or coins as acquiring them cost more than face to acquire.
Dodgy Logic 2025.
THIS^
Mike
My Indians
Danco Set
Maybe is why credit cards offer decent things that attract, thus less coin. Just saying and happy Thanksgiving all
They don't Mint coins because there is sufficient coinage in circulation. They Mint them because there isn't sufficient coinage actually circulating.
I see this thread heading south.
Well, Do we really need proofs sets?, or commemoratives?? Sure they make money for the mint, but if you close the mints....
WS
DOGE is the new DOUBT
Experience the World through Numismatics...it's more than you can imagine.
Well, let's see.... if we stop minting the cent for circulation, that will be quite a savings. But, the U.S. mint can continue to mint cents for proof sets, limited issues, etc. With continued or even more profit (not from me though). Seems to make sense to me. But with bloated federal government, things don't have to make sense.
Yes. South pole materiel.
God bless all who believe in him. Do unto others what you expect to be done to you. Dubbed a "Committee Secret Agent" by @mr1931S on 7/23/24. Founding member of CU Anti-Troll League since 9/24/24.
Discontinue destroying the dollar would be better.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
I just hope they don’t forget to ditch the equally stupid 5c coin.
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
I like money
sure they could and with a shorter shelf life ++
We all need to think outside the box and look to stuff like cardboard and plastics
do they still have penny gumball machines?
@davewesen
I agree, I mean how long does a coin last in circulation these days before it ends up in a jar at someone’s bedside? not very long I assume. soda machines and parking meters take cards, so does Dave and Busters. It’s over for nickels, cents and maybe even quarters as we have always know them. so be it
I mean take a look around you the next time your outside running errands, the clothes designed today don’t even fit the human being wearing them, let alone room for pocket change!
I just don't get some of the answers here. If there was no demand for them then they wouldn't mint them.
Should there be a demand for them? I don't know. But there is.
If businesses just rounded down the total to the nearest quarter for cash purchases then we could effectively eliminate the cent, nickel, and dime.
Working in the DOGE department would be the easiest job in the world. There is soooooooo much waste in our government.
Sometimes I think that animals are smarter than humans, animals would never allow the dumbest one to lead the pack
Sales tax.
The store can absorb it, or the government, or whoever is complaining about the cost of the small change.
Rounding up or down is not required for daily credit card and debit card totaled transactions.
The coinage and cash is no longer required to transact most purchases in USA.
I bought my last house, no cash needed or required. I later paid off that house loan, no cash in hand desired or required.
I sold a house a couple years ago with no needed or required cash. All was wired and verified. No coin rolls or banded currency to hassle with. And who wants to deal with fake cash anyways ? Fake cash is so deceptive.
I buy food, no cash.
I pay taxes, no cash.
I shop on amazon, no cash.
I buy coin supplies from the wizard website, no cash.
I power shop at costco, and get 4% total kick back for not using cash.
The only people who care about Mint continuing to produce literally trillions of Cents annually is the zinc lobby.
the demand only exists for immediate commerce POS for cash purchases. only a business owner needs coins every morning in their tillers. consumers do not. so it’s that system that creates the demand for more minting of coins. hey, maybe DOGE should tell consumers to trade all their stashed pennies in for 2c a piece for cash voucher to the nearest dollar. That would still cut the cost of making new ones by 100%, and still keep them in circulation
…..I mean the US Gov’t already likes to buy-back guns, why not add pocket change buy-backs? although, only one of those methods would create ROI, fiscally speaking
Gun buyback programs are done by cities, not the US government.
our federal government has very much so, provided funding to support gun buy-backs, for cities and states, in fact. but no worries. my point is that there is a way to keep all our beloved coins in circulation while cutting costs in half. we deserve more then half a cut, but I’m a coin collector so I am willing to negotiate
No one said it was.
True, but cash is still used by many people. That's a fact.
The zinc lobby doesn't create demand for cents. They just want to make sure that zinc is used for the cents that are minted. I'm sure they'd be happy if nickels were also made of zinc.
_would these plastic coins this country I never heard of started making be cheap enough? from the book “The Chemistry Of Money”
_
Mr_Spud
We probably should get through the current solar cycle before considering eliminating all cash. It's really sad to see a store close down for a day or so because the debit or credit systems went down for a bit. If we get hit by another Carrington Event, most of the country will be without any means of digital payments for weeks if not months on end.
If the cost of making a nickel was truly a big deal to Congress, they could authorize the half dime once again. Literally no loss would go into making that coin with the current composition arrangements.
Custom album maker and numismatic photographer.
Need a personalized album made? Design it on the website below and I'll build it for you.
https://www.donahuenumismatics.com/.
Here’s what the plastic Transnistria coins look like, I just purchased a set
Mr_Spud