Congress is going after the nickel
WALLE
Posts: 393 ✭✭✭✭
Fox news has stated that congress will be looking at ending the nickel.
Congress is taking steps to potentially eliminate the nickel after successfully phasing out the penny. The recently passed Common Cents Act aims to address the rising production costs of the nickel, which currently exceeds its face value.
Yahoo
Congressional Actions on the Nickel
Recent legislative developments are focusing on the future of the nickel.
Production Costs — The nickel costs approximately $0.1378 to produce, prompting Congress to seek cheaper alternatives.
Common Cents Act — This act prohibits the minting of new pennies and directs the Treasury to explore lower-cost nickel production.
Historical Context — The nickel's composition has changed over time, including during WWII when alternative alloys were used.
Future Considerations — With the penny eliminated, Congress is considering whether to continue minting the nickel in its current form.
Comments
Hmmm... Zinckles? Something made out of Aluminum? Vending machine owners might pitch a fit if they can't be used in current machines...
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if people carried spare dimes and quarters we could still pricein nickels
0.05 - pay with a quarter and get 2 dimes back
so forth
Congress has a point. When was the last time you received a nickel in change?
I just saw Treasury Secretary Bessent on TV say that they are looking to change the composition of the nickel (not eliminate it).
Today.
But I expected I would be getting it based on how I paid.
Today! And it was even the 250-year version.
Existing thread with links: https://forums.collectors.com/discussion/comment/14164078
It takes 34 cents to equal the purchasing power a cent had in 1913, i say just get rid of the nickel, maybe even the dime. Start making $5 and $10 circulation coins and eliminate the corresponding bills. If we're going to inflate away the value of the dollar, let's really lean into it.
Why not go full Weimar and strike multiple $250 billion face value coins and pay off the national debt? That sounds like something Secretary Bessent and his loose statutory interpretation principles could get behind.
I would like to know whether the Mint is making trial strikes on different metals. It would be interesting to see some of them leak out.
the mint does strike trials. they have struck trials of cents. a version of the cent with martha washington was made. there are many extant.
Maybe just delete all coins except the golden dollars. Round everything to a buck. Was at postoffice today and they offered to round me up to $14 on $13.90 letter priority. Used credit card so I got to be billed $13.90. No rounding required.
No more hobo nickels. Now if we could just get rid of the hobos.
Practice makes perfect & nobody is perfect. So, practice being nobody.
Twenty-somethings use very few coins (or currency). The generation that follows them likely will use even fewer. I know nothing about the above story, but I’m ok if Congress is looking for bipartisan ways to save money.
Make high grade plastic notes resistant to wear and breakage and go to issuing notes. Abolish the Mint all together and voila you would save millions of dollars.
...
All comments reflect the opinion of the author, even when irrefutably accurate.
I’m not okay with loose statutory principles even if it is something I want. The Rule of Law is important to me.
I'm still in favor of going back to a half Dime .... in clad !
But we should bring back the capped bust design.
Maybe they could make them out of wood. Actually, strike that. Have you been to a lumberyard lately? 🤑
Empty Nest Collection
The nickel should have been canceled in 1873. It was a measure to spur the economy during Reconstruction and that should have been it.
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Who uses nickels in vending machines anyway?
Heck, who still uses coins in vending machines?
They should just get rid of all the coinage and round everything up to the nearest dollar. Who needs coins when we are $40.25T in the hole? And what happened with them Doge coins? lol RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?