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Can the cent or half dollar ever be changed or eliminated?
rec78
Posts: 5,856 ✭✭✭✭✭
I am in favor of eliminating both the cent and half dollar as circulating coins. However, can this ever be done? Politicians just love their own. Just look what happened when they tried tried to change the reverse of the Jefferson nickel. Do we have to keep the cent forever because Abe Lincoln is on it? or the half dollar because JFK is on it? Trying to eliminate these coins would cause a major uproar--not because of the denomination, but because they would not be able to mint Lincoln or Kennedy anymore.
I have always had the opinion that commemorative coins featuring famous people are OK, but never coins of the realm-you can never get rid of them or change the person on them. Seems like we are stuck with the current coinage portraits or variations of the same person on the same coin forever. This is a dilemma. Any solutions?
I have always had the opinion that commemorative coins featuring famous people are OK, but never coins of the realm-you can never get rid of them or change the person on them. Seems like we are stuck with the current coinage portraits or variations of the same person on the same coin forever. This is a dilemma. Any solutions?
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The cent is also steeped in collector lore. It is the only U.S. coin that offers a continuous run of dates from 1793 to date with exception of the year 1815. For this reason alone, the government would hard pressed to do away with the cent completely. I could see the day when the cent would be like the half dollar and become available only in mint issued sets. The other issue is making change for state sales taxes. Although rounding up might seem like the solution, such a back door tax increase would not be politically popular.
<< <i>Let's move old Abe to the dime, shut down the cent and move on.
I don't think that you going to see Franklin Roosevelt removed from American coinage any time soon. He is more of a political fixture than Kennedy, and in Democratic circles bigger than Lincoln.
``https://ebay.us/m/KxolR5
<< <i>The Kennedy half is here as long as any Baby boomers are alive. But, it should now be a low production mint set only type issue. The Lincoln cent is here as long as change is made to the .01. Eventually it will almost all be "electronic" money >>
Yep!
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.<< <i>Not to be cynical, but as long as the bribes to keep them exceed the bribes to get rid of them they will be here. >>
One bribe to rule them all, one bribe to find them, one bribe to bring them in and in the darkness bind them, in the land of DC where the politicians lie.
First thing that came to mind. Honest.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
<< <i>Not to be cynical, but as long as the bribes to keep them exceed the bribes to get rid of them they will be here. >>
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<< <i> Eventually it will almost all be "electronic" money >>
Yep!
Agreed. We are moving fairly swiftly to a one world (probably individual computer chips implanted under the skin, or something similar) money system, necessitated by all of the identity theft problems, credit card fraud, counterfeiting, etc.
- Jim
around town ...my local walmart .. Camillus NY just started accepting half dollars in the self serve checkout and Syracuse University
Carrier Dome vendors use them all the time because all prices are either whole dollars or 50 cents
No Way Out: Stimulus and Money Printing Are the Only Path Left
2001 was the last year half dollars were minted for circulation. 2002 and after they appear in sets, premium rolls and bags only.
The mint profits from further coinage of half dollars because they are all sold at a premium of some sort.
What has not been mentioned, again, is that the nickel costs about 10 cents to mint and distribute.
Any talk of "cent action" must be coupled with "nickel action"
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<< <i>
<< <i> Eventually it will almost all be "electronic" money >>
Yep!
Agreed. We are moving fairly swiftly to a one world (probably individual computer chips implanted under the skin, or something similar) money system, necessitated by all of the identity theft problems, credit card fraud, counterfeiting, etc.
Yes,all foretold,you know where!
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.and a $5 coin, and print $10, $20, $50, $100 and $500 notes. All the paper money denominations would
be a different color, with as many anti-counterfeiting measures as the BEP thinks are necessary.
The 10C, 25C, and $ coins would keep their current sizes and materials, although the three layer clad
should go away, in favor of a solid blend. The $5 coin should be larger than the current Presidential or
Native American $, but not that much larger (perhaps 28.5 mm), and a different color and edge than the
smaller denominations.
Why not?
You would have to get past Crane Paper Co first not to mention the lobbyists for the Cent, Nickel and Half.
The cent will probably get eliminated eventually ... tho' we tend to cling to things longer than Canada.
Perhaps drop the cent and dollar bill first while printing larger quantities of the $2 bill to placate Crane ... also reverting to Monticello on the reverse. Then after a few years a bimetallic $2 coin would be nice. Beyond that ... who knows?
Happy Rock Wrens
You're having delusions of grandeur again. - Susan Ivanova
Well, if you're gonna have delusions, may as well go for the really satisfying ones. - Marcus Cole
IIRC, the Jefferson Reverse was change for two years to celebrate the Louisiana Purchase then it reverted back to its original but modified form as planned.
As for the cent and half dollars?
Half Dollars have not circulated since 1965 but are made today as nothing more than a profit builder for the Treasury Department.
The cent "could" be eliminated but it would take some really big balls and I expect that it would come back quite quickly.
What really needs to happen, is the elimination of the paper dollar and paper two dollars.
Replace them with coins and a huge savings could be the end result.
The name is LEE!
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<< <i>The Kennedy half is here as long as any Baby boomers are alive. But, it should now be a low production mint set only type issue. The Lincoln cent is here as long as change is made to the .01. Eventually it will almost all be "electronic" money >>
Yep!
There will NEVER be a cashless society as the poor far outnumber the wealthy or middle class.
The name is LEE!
<< <i>
<< <i>
<< <i> Eventually it will almost all be "electronic" money >>
Yep!
Agreed. We are moving fairly swiftly to a one world (probably individual computer chips implanted under the skin, or something similar) money system, necessitated by all of the identity theft problems, credit card fraud, counterfeiting, etc.
Hmmm.
So, eliminating cash will fight credit card fraud and identity theft?
Interesting...........................
The name is LEE!
<< <i>Cents can't even be converted to 2 cent pieces because that is just about cost for production and distribution.
What has not been mentioned, again, is that the nickel costs about 10 cents to mint and distribute.
Any talk of "cent action" must be coupled with "nickel action" >>
And copious amounts of "in-action"!
The name is LEE!
Just wanted to mention that this November is the FIFTIETH (50th) anniversary of JFK's assassination......
BOY! Does THAT make me feel OLD!!!
- - Dave
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>Why not?
You would have to get past Crane Paper Co first not to mention the lobbyists for the Cent, Nickel and Half.
The cent will probably get eliminated eventually ... tho' we tend to cling to things longer than Canada.
Perhaps drop the cent and dollar bill first while printing larger quantities of the $2 bill to placate Crane ... also reverting to Monticello on the reverse. Then after a few years a bimetallic $2 coin would be nice. Beyond that ... who knows? >>
right there is the issue, the apparent political might that Crane has. they say eliminating the $1 will make them cut jobs. Um, yes maybe. As you said, print more $2.
My suggestion always has been
eliminate the cent (somehow we managed to eliminate the 1/2 cent and lived on)
eliminate the $1 note
the $2 will replace the $1
make more $1 coins
and yes, I would like to see the half dollar make a comeback, but oh well.
Ax them both except for BEP collector's issues.