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Heard a brief snippit on the news today talking about replacing our u.s. coinage with plastic coins

I was listening to the radio when I heard this in my car and didn't know if this was pure b.s. or if there is any truth to this.

I remember hearing the story a number of years ago talking about going to different colored currency which later turned out to be only partly true, so who knows if plastic coins might happen or not ?

From what I remember the announcer said the government was considering doing this for the same reason as the colored currency [making them harder to counterfit].

Has anyone else heard anything about this ? Do you think it might happen some day ?

Les
The President claims he didn't lie about taxes for those earning less then $250,000 a year with public mandated health insurance yet his own justice department has said they will use the right of the government to tax when the states appeals go to court.

Comments

  • wingedlibertywingedliberty Posts: 4,805 ✭✭✭
    The only coin counterfeiting activity that I am aware of is the proliferation of Sac dollar counterfeits by the Colombian Cartel and the concentration thereof in Ecuador as well as their activities in counterfeiting British Pound coins. Otherwise, I didn't know it was a big problem, I heard the rumor also, but I don't think the vending industry will go for it, afterall, converting 11,000 Coke and Pepsi machines will cost them
    millions.
  • RussRuss Posts: 48,514 ✭✭✭
    I think the argument about making them harder to counterfeit seems a bit specious. Is there really a problem with pocket change?

    More likely - if the story isn't BS - it would be a cost cutting attempt. I can't see it happening, though. I think the public reaction would be overwhelmingly negative.

    Russ, NCNE
  • Russ, I have no idea if what I heard was credible or not, but if they did this it would only be practical for larger denominations.

    When I heard this my first reaction was "yeah right" but thats when I remembered the story about the colored currency. Still my own guess would be it wont happen.

    Les
    The President claims he didn't lie about taxes for those earning less then $250,000 a year with public mandated health insurance yet his own justice department has said they will use the right of the government to tax when the states appeals go to court.
  • RussRuss Posts: 48,514 ✭✭✭
    Of course if they did make the change, it would add new meaning to the oft repeated "buy the coin, not the plastic". image

    Russ, NCNE
  • StuartStuart Posts: 9,793 ✭✭✭✭✭
    Plastic coins now, seems about as unlikely as clad coins did back in 1964... image
    Yeah it couldn't ever happen image

    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • lordmarcovanlordmarcovan Posts: 43,878 ✭✭✭✭✭
    Russ- image

    Explore collections of lordmarcovan on CollecOnline, management, safe-keeping, sharing and valuation solution for art piece and collectibles.
  • dcarrdcarr Posts: 9,106 ✭✭✭✭✭
    If there is any truth to this, the REAL reason is because the government isn't making enough "profit" on the coins issued for circulation. In case no one has noticed, the price of nickel and copper have been climbing lately. $5 face value in nickels now contains nearly $2 worth of metal. That might sound like a reasonable "profit" ($3), but the govenment is accustomed to having a higher percentage than that.

    If anything, however, I see them dropping the cent and nickel from circulation before going to plastic coins.
  • My spending power is already plastic.

    We ARE watching you.

    image
  • bearcavebearcave Posts: 3,996 ✭✭✭✭✭


    << <i>My spending power is already plastic. >>



    image
    Ken
  • cladkingcladking Posts: 28,731 ✭✭✭✭✭
    The mint has been investigating various options for coinage metal in
    recent months but to date all of the options they've seriously consid-
    ered publicly are more value added rather than less. The mint director
    has on a couple occasions said that she likes ringed bimetallic coinage,
    though, of course, it's possible these are being considered for new higher
    denomination coinage. Molded plastic is extremely easy to duplicate,
    certainly much easier than clad.

    tempus fugit extra philosophiam.
  • Hey...... this might be a good opportunity!!!image I'll buy up and hoard all the clad coins!image Then when the clad coin collectors can't find any i will get rich!!!!!imageimageimageimage
  • JohnZJohnZ Posts: 1,732
    Puff the magic dragon, lived by the sea...

    We ARE watching you.

    image
  • Seriously now, i read on the internet the fed is considering doing away with 1 dollar bills , and only having 1 dollar coins (please let them be morgans) they claim it would save taxpayers $1,000,000,000.00 per year. (toned morgans)image
    Michael
  • dorkkarldorkkarl Posts: 12,691 ✭✭✭
    the idea of using plastic dates to the 1970's. i'd also heard at 1 time the idea of using ceramic coins. doubt either will happen.

    K S
  • In parts of the world plastic Banknotes have been tried ( with varying success )so anything can happen!
    Tony Harmer
    Web: www.tonyharmer.org
  • Cam40Cam40 Posts: 8,146
    What? Plastic coins?

    We already have plastic coins.
    They call them credit cards.?!?!?!?!

    image


    I think in 1943 a variety of materials were used to strike coins out of. Plastic, Ceramic, Chicken feathers, Everything.

    image

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