US Mint Changes for 2013

erwindoc

Anyone else heard about these? Just read a brief article about coin thickness changes or doing away with the 1c, 50c, and $1 coins and possibly going to a $2 and $5 and changing the current nickels value to something else.

tightbudget

Can we please have a link to the article? I've never heard of such a thing yet.

commoncents05

Sorry, it won't happen. Makes too much sense.

-Paul

elmeister

those sound like pretty earth shattering changes to be only mentioned in a brief article...

link please

tahoe98

<< <i>Can we please have a link to the article? I've never heard of such a thing yet. >>



...could be this article i'm not sure.

drei3ree

Vending industry, parking, etc. would be too much of an issue...it'd all have to be done very slow and gradual.

OPA

<< <i>Sorry, it won't happen. Makes too much sense.

-Paul >>





except for the $1 coin

anything lower would not affect the Vending Industry, since hardly anything sells for less than $1 anyway.

OPA

Here is the article..

numismaster

tahoe98

<< <i>Here is the article..

numismaster >>



...looks very familiar.

TheCoinGeezer

<< <i>Here is the article..

numismaster >>


The government will, in all likelihood, do what it does best - form a committee to suggest a blue ribbon panel to study the feasibility of such changes. That will kill the next several years, at which point the government will ignore the findings anyway and keep producing coins that nobody wants, in denominations that nobody needs.

OPA

<< <i>

<< <i>Here is the article..

numismaster >>



...looks very familiar. >>



Sorry...did not see your post..

RB1026

The author takes a mental leap with some of his own suggestions as opposed to those ideas being direct quotes from the Director. Safe to say it makes too much sense for us to expect it to happen.

AUandAG

Who in the frick cares???? The world ends in Dec of 2012, right?


bob

coasterfan

If they do make major changes, they should use this as an opportunity to give us completely new designs.

DeepCoin

The administrative staff at the Mint, including ALL of Sales and Marketing, never makes a decision regrading matter such as these. It is all directed by either Treasury or the Congress, and typically Congress. The study matters, but will never take a position. In fact, the senior officials will not even lobby for the demise of the paper dollar. That includes political appointees from both parties (obviously at different times).

Coins101

<< <i>

<< <i>Here is the article..

numismaster >>


The government will, in all likelihood, do what it does best - form a committee to suggest a blue ribbon panel to study the feasibility of such changes. That will kill the next several years, at which point the government will ignore the findings anyway and keep producing coins that nobody wants, in denominations that nobody needs. >>



You forgot and waste a bunch of money traveling the world, visiting Mints in other countries and then come up with their findings, which will be ignored.

19Lyds

Great.

We traded Ed Moy for another idiot!

Instead of suggesting the Treasury Department drop the one dollar Federal Reserve, he cops out with the "but nobody uses them" argument.

With an idiot like this at the helm (read Beth Deishers Editorial in the Aug 22nd Edition of Coin World) any possibility of getting rid of the one dollar bill and saving some REAL money will be lost.



In case it doesn;t make any sense, the Federal Reserve Pays US for one dollar coins instead of US borrowing money to cover the One Dollar notes they make.

erwindoc

It will be interesting to see what happens. Many other countries are doing the same thing.

DBSTrader2

What struck me the most (and would like an explanation for) is that the production & distribution costs for making each dollar coin has almost DOUBLED in just 2-3 years!! What's behind that?

- - Dave

ricko

Costs increase - the metals, the labor, and inflation - which, contrary to government reports, is active and influencing costs across the board. Cheers, RickO

Barney1955

A few weeks a go there was a story in one of the numismatic publications about how back in 1900 3 cents is worth about what a dollar is worth today. Now back then they had a cent, nickel, dime, quarter, half dollar, dollar coin. Not to mention all the gold coins of the time. So with this in mind todays quarter is worth slightly less than a cent was back then. Who are we trying to kid when we say we can't get along without cent, nickel, dime? It is really way past time to straighten this situation out, what say you?

scottgardener

At this point, the article is purely speculative. It may advocate some good ideas, but none of these are official plans.

itsnotjustme

I agree with Barney.

Our system has failed to keep pace with the long term effects of inflation. I really see no need for a denomination below 10 cents today.... to limit change and allow the traditional quarter to survive, 5 cents is more realistic.

19Lyds

<< <i>What struck me the most (and would like an explanation for) is that the production & distribution costs for making each dollar coin has almost DOUBLED in just 2-3 years!! What's behind that?

- - Dave >>

what are you basing this statement on since as far as I know, the cost has always been .26 to produce the dollar coin?

tahoe98

...in the end the politicians will make the call. after all we all know they know what we want and what's best.

19Lyds

Some research from the US Mint Annual Reports:





It appears that costs have increased due to increases across the board from 2007.