I just cannot believe it!
19Lyds
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In the January 14th edition of Coin World, the cover story regarding the experimentation of "alternative metals" for producing US Coinage, authorized under the Coinage Modernization Act of 2010, states that one of the three alternatives being considered is a multiply-plated steel whose process would involve paying a licensing fee to the Royal Canadian Mint since they are the ones which developed the process.
Has ignorance totally consumed the United States Government? Who in their right minds would even consider using something to produce coinage for this country which involves paying licensing fee's to some foreign government?
Why not simply eliminate the one cent coin and just be done with it? (BTW, that's what the Candians did but then our government isn't really paying attention!)
Oh yeah, the cost of the cent and nickel being nearly double face value is what fueled all this "research" yet the dime, quarter, half and dollar coins are being investigated as well.
Things get very interesting when you "allow" 300 million "non-experts" control whats done.
Has ignorance totally consumed the United States Government? Who in their right minds would even consider using something to produce coinage for this country which involves paying licensing fee's to some foreign government?
Why not simply eliminate the one cent coin and just be done with it? (BTW, that's what the Candians did but then our government isn't really paying attention!)
Oh yeah, the cost of the cent and nickel being nearly double face value is what fueled all this "research" yet the dime, quarter, half and dollar coins are being investigated as well.
Things get very interesting when you "allow" 300 million "non-experts" control whats done.
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
The name is LEE!
The name is LEE!
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Seeing that the US government routinely ignores and abuses many other international laws, I do wonder why they would even consider paying the fee.
Hell, maybe those fees will be offset by the $1 Trillion platinum coins some economists are considering.
Interests:
Pre-Jump Grade Project
Toned Commemoratives
"After exhaustive all other options, Americans will do the right thing"
Keep the faith- there are afew more options yet...
Experience the World through Numismatics...it's more than you can imagine.
<< <i> one of the three alternatives being considered is a multiply-plated steel whose process would involve paying a licensing fee to the Royal Canadian Mint since they are the ones which developed the process. >>
If this happens, I'd like to think that the fees for the technology would be negotiated and result in a one time only fee of one dollar to satisfy the licensing fee requirement.
So, like it or not, we are followers. We don't like this because we like to be leaders.
But to suggest that if the Canadian Mint- who owns technology that could help us solve our problems - provide that to us for FREE, doesn't make sense to me. They INVESTED money to develop the technology - they certainly are entitled to negotiate a REASONABLE license fee for the laggards at the US Mint to use it. If the US Mint doesn't like the license terms they are free to look at other technologies or to develop their own.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
<< <i>Was it not Winston Churchill that said something to the effect:
"After exhaustive all other options, Americans will do the right thing"
Keep the faith- there are afew more options yet...
I think ole Winnie might retract that statement given today's PC Environment or at the very minimum, require that it be put into context.
When the costs of producing cents and nickels doubled, it was simply insane to continue producing them regardless of HOW it was justified. I do ex[ect error's and mistakes from my government but hold little tolerance for insanity.
The name is LEE!
But from a practical point of view, if you are running the Mint, your charter isn't national pride......it is running a place of (government) business........
All our "smart" bombs and defense capability??? 99% of the semiconductors inside them come from Asia.
<< <i>Wait a second. It is my observation that the Canadian Mint and the Canadian Government has taken a proactive approach to solving the issues related to the cost of coinage. The Canadian Mint also produces top notch quality products. Like it or not, I think they far surpass the technologies employed by our own US gubberMINT. (pun intended). >>
Shouldn't that have been "gooberMint"?
The name is LEE!
Sadly, it would eliminate a few jobs in the government and that cannot be tolerated.
bob
<< <i>What? Eliminate the cent??? NO WAY JOSE!
Sadly, it would eliminate a few jobs in the government and that cannot be tolerated.
bob
Don't worry there are a lot cattle guards that are being retrained to take up the slack.
<< <i>Was it not Winston Churchill that said something to the effect:
"After exhaustive all other options, Americans will do the right thing" >>
I think he said something along the lines of...
"You can always count on Americans to do the right thing—after they’ve tried everything else."
A little less flattering.
Lance.
They call me "Pack the Ripper"
"Seu cabra da peste,
"Sou Mangueira......."
I was in Mexico last week. As far as I could tell, the lowest value coin was the peso, which is about 8 cents in US money. The country seemed to function just fine. I say do away with the penny and nickel already and replace with dollar and two dollar coins.
<< <i>Why not simply eliminate the one cent coin and just be done with it? (BTW, that's what the Candians did but then our government isn't really paying attention!) Oh yeah, the cost of the cent and nickel being nearly double face value is what fueled all this "research" yet the dime, quarter, half and dollar coins are being investigated as well.
I was in Mexico last week. As far as I could tell, the lowest value coin was the peso, which is about 8 cents in US money. The country seemed to function just fine. I say do away with the penny and nickel already and replace with dollar and two dollar coins. >>
Ya make a US Peso they are all here any way. I can say this i'm mexican
Hoard the keys.
<< <i>I think he said something along the lines of...
"You can always count on Americans to do the right thing—after they’ve tried everything else."
A little less flattering. >>
That sounds more like the Winnie I know!
60 years into this hobby and I'm still working on my Lincoln set!
Why expend energy demanding the government stop making certain coins, instead of expending some energy demanding that the government acknowledge and deal with the underlying problem of rising prices?
<< <i>What? Eliminate the cent??? NO WAY JOSE!
Sadly, it would eliminate a few jobs in the government and that cannot be tolerated.
bob
Jarden Zinc Products, the sole supplier of cent blanks, spends about $200,000 a year through the group Americans for Common Cents which generates angry faxes emails, and phone calls to Congress with various phony arguments, such as gasoline will be rounded up to the next nickel a gallon. Also Coinstar wants to keep the cent, because they can make 9.8% profit every time the unwanted coins are tossed in a jar and finally fed into their machines.
<< <i>
Has ignorance totally consumed the United States Government? Who in their right minds would even consider using something to produce coinage for this country which involves paying licensing fee's to some foreign government?
. >>
So it's ignorant to pay a licensing fee of maybe 1/100 of 1 cent to save nearly a full cent per coin? Canada makes cents for 1.6 cents, the US Mint pays 2.5 cents each
The only real solution is to have a stable currency, and all that it implies.
I knew it would happen.
<< <i>
<< <i>
Has ignorance totally consumed the United States Government? Who in their right minds would even consider using something to produce coinage for this country which involves paying licensing fee's to some foreign government?
. >>
So it's ignorant to pay a licensing fee of maybe 1/100 of 1 cent to save nearly a full cent per coin? Canada makes cents for 1.6 cents, the US Mint pays 2.5 cents each >>
It's ignorant to spend 2.5 cents to manufacture a cent. Much of the cost is in the labor and handling to manufacture them. Their purchasing power is nil and it's time to eliminate them.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Why not simply eliminate the one cent coin and just be done with it? (BTW, that's what the Candians did but then our government isn't really paying attention!) Oh yeah, the cost of the cent and nickel being nearly double face value is what fueled all this "research" yet the dime, quarter, half and dollar coins are being investigated as well.
I was in Mexico last week. As far as I could tell, the lowest value coin was the peso, which is about 8 cents in US money. The country seemed to function just fine. I say do away with the penny and nickel already and replace with dollar and two dollar coins. >>
Not true.
Mexico still mints 10c, 20c, and 50c coins but they are not used much since they don't buy much (sound familiar?). But they have found an ingenious way to save money minting them. They use the center punches created as waste when making the 1 Peso, 2 Peso, and 5 Peso coins, which are bimetallic. Those center punches would normally just be melted down anyway, so they found a way to use them for blanks for the centavos thereby saving a few steps. They only started doing this a few years ago.
would save them.
The Russian currency is the Ruble. It is worth about 3 cents. They have Kopeks which are 1/100 of a Ruble.
On my last trip to Russia, I got a 5 Kopek coin. I guess they don't make 1 Kopek coins any more. We
are heading down the same road.
For reference, a 10 Ruble gold coin from 1911 and a $5 gold coin from 1911 have almost the same weight.
``https://ebay.us/m/KxolR5
<< <i>
<< <i>
Has ignorance totally consumed the United States Government? Who in their right minds would even consider using something to produce coinage for this country which involves paying licensing fee's to some foreign government?
. >>
So it's ignorant to pay a licensing fee of maybe 1/100 of 1 cent to save nearly a full cent per coin? Canada makes cents for 1.6 cents, the US Mint pays 2.5 cents each >>
Maybe in the old days but no longer.
Canada has ceased production of the cent and will begin gathering them back for melting in March.
The name is LEE!
<< <i>We could always create a new 2 cent peice using the new alloy Canada created ! If the cent is eliminated, one of our greatest Presidents would no longer be represented on our coinage. >>
It would be neat to have a 2 or 3 cent coin again. Why not? Then they could keep using quality metals instead of pot metal. Maybe we should look into Feuchtwanger's composition again. His design was not bad either.
"You can always count on Americans to do the right thing—after they’ve tried everything else."
it was said of Winston Churchill that he had several ideas a day. One of them was good one. Nobody, including Winnie, knew which one it was.
<< <i>Was there an uproar when the government stopped producing the half cent? >>
They're all dead, they're not going to make a sound.
``https://ebay.us/m/KxolR5
<< <i>We could always create a new 2 cent peice using the new alloy Canada created ! If the cent is eliminated, one of our greatest Presidents would no longer be represented on our coinage. >>
...couldn't we just put that president on the 2 cent piece
<< <i>It would be neat to have a 2 or 3 cent coin again. Why not? Then they could keep using quality metals instead of pot metal. Maybe we should look into Feuchtwanger's composition again. His design was not bad either. >>
. The German silver was analyzed by the mint this was published June 1913 Numismatist article on Feuchtwanger. The unspoken nugget was the political power of Joseph Wharton who opposed this in favor of HIS metal, nickel. Wharton incidentally owned the main mine, located in Nickelmines Pa ( where that Amish school shooting occurred). The Mint had much to say but in essence it mentioned the difficulty in producing consistent batches of the metal. In practice it proved brittle under coining pressure with thick (normal) planchets. The timeline of 3 cent releases shows a shift from heavier (more cracks) to lighter (no cracks) as he done his last 1864 strikings. ~~~~The alloy itself as a coin material and how they wore is tough to gauge as none of Feuchtwangers issues were a properly designed coin since none had raised upset rims. The high point on the eagle was the coins high point, and wear point. Also most varieties had the the bird cut too deep into the dies, and metal flow was sometimes a factor. All in all though I'd say it is softer than clad, and a bit harder than our "nickel" coins of 75% nickel and 25% copper. The German silver proved tarnish proof and is used for musical instruments today. -////-- if love to see Feuchtwangers Eagle reused. It's dynamic and very "American".
<< <i>Was there an uproar when the government stopped producing the half cent? >>
Unknown since the Internet hadn't been invented yet.
The name is LEE!
<< <i>
<< <i>It would be neat to have a 2 or 3 cent coin again. Why not? Then they could keep using quality metals instead of pot metal. Maybe we should look into Feuchtwanger's composition again. His design was not bad either. >>
. The German silver was analyzed by the mint this was published June 1913 Numismatist article on Feuchtwanger. The unspoken nugget was the political power of Joseph Wharton who opposed this in favor of HIS metal, nickel. Wharton incidentally owned the main mine, located in Nickelmines Pa ( where that Amish school shooting occurred). The Mint had much to say but in essence it mentioned the difficulty in producing consistent batches of the metal. In practice it proved brittle under coining pressure with thick (normal) planchets. The timeline of 3 cent releases shows a shift from heavier (more cracks) to lighter (no cracks) as he done his last 1864 strikings. ~~~~The alloy itself as a coin material and how they wore is tough to gauge as none of Feuchtwangers issues were a properly designed coin since none had raised upset rims. The high point on the eagle was the coins high point, and wear point. Also most varieties had the the bird cut too deep into the dies, and metal flow was sometimes a factor. All in all though I'd say it is softer than clad, and a bit harder than our "nickel" coins of 75% nickel and 25% copper. The German silver proved tarnish proof and is used for musical instruments today. -////-- if love to see Feuchtwangers Eagle reused. It's dynamic and very "American". >>
Thanks for the post. I was hoping someone would bring out some numismatic history on this. I thought german silver was a nickel and copper blend. Was there something else in it?
p.s. I do love that eagle too. He has some attitude!
Needless to say such a decision making process only leads to chaos.
And It will certainly make for quite a ride.
Heck I think ill just mint one of those $1 Trillion coins and spend some money (stimulate).
Joking aside, they should stop making the cent.
<< <i>Some zinc lobbyists will get fired if that happens
Wow, I am just trying to imagine what a zinc lobbyist looks like. Would he be like Orville Redenbacher or Larry Fine?