Bill Seeks Steel Cents, Nickels, Dimes, and Quarters

[jeff of pa]

On April 25, 2013, Rep. Steve Stivers of Ohio introduced a bill in the House of Representatives which seeks to immediately alter the metallic composition of the one-cent, five cent, ten-cent, and twenty-five cent coins. The legislation would require all four coins to be minted in American steel, with the cent coated in copper to preserve the current appearance.

Bill Seeks Steel Cents, Nickels, Dimes, and Quarters | Coin Update

 

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[Generic_Lad]

Just another sign of the continued decline of the dollar...

Not to mention that this would force a huge change in vending machines, coin counters, parking meters, etc.

The amount of money that it would cost to refit all those machines with new internals I'd imagine would be enormous. At least with the SBA dollar they didn't have to change too much since no one used the existing dollar coin anyways.

...Can we just get rid of the Cu-Ni, Zinc and Steel coins and just go back to gold and silver?

 

[Produce Guy]

In some states parking meters & vending machines take debt cards instead of coins.

 

[woodstock]

I must be crazy but I can't see how it would hit vending machines and most other coin operated devices . I always though it was thickness , diameter and maybe weight that triggered those . I assume the technology does exist's that could actually identify all the coin's inserted in it but it's hard to believe that that technology is already in place on every coin operated machines like parking meters and vending machines cause that would have costed a fortune already . Maybe on today's coin counters . If they use a magnet to sort bogus slugs then retro fitting would only require removal of the magnet and that shouldn't require much . And if coin operated machines had to read or view the domination's or coins inserted , that would require almost all new mechanic's inside and that would be a big effort to change immediately . And those new coins would have to be introduced over a long period of time ... in my opinion .
And here's something for all those CRH to consider . If today's coin machines are modified to view or read the coins inserted then the technology to read the base metal can also be introduced at the same time those machines a redone , so say goodbye to finding silver cause Coin Star will sort it out before they can .
I think what this Bill is introducing is using American steel as part of the coin minting process and really is unclear of the types of American steel or if these coins will be all steel or a mix of steels . Maybe it's just to make sure that our coins are minted with our materials cause I don't know where they purchase them now
Right now I won't worry cause know one in Washington has the ability to get any bill passed to begin with . IMHO < Woodstock

 

[Generic_Lad]

I must be crazy but I can't see how it would hit vending machines and most other coin operated devices . I always though it was thickness , diameter and maybe weight that triggered those . I assume the technology does exist's that could actually identify all the coin's inserted in it but it's hard to believe that that technology is already in place on every coin operated machines like parking meters and vending machines cause that would have costed a fortune already . Maybe on today's coin counters . If they use a magnet to sort bogus slugs then retro fitting would only require removal of the magnet and that shouldn't require much . And if coin operated machines had to read or view the domination's or coins inserted , that would require almost all new mechanic's inside and that would be a big effort to change immediately . And those new coins would have to be introduced over a long period of time ... in my opinion .
And here's something for all those CRH to consider . If today's coin machines are modified to view or read the coins inserted then the technology to read the base metal can also be introduced at the same time those machines a redone , so say goodbye to finding silver cause Coin Star will sort it out before they can .
I think what this Bill is introducing is using American steel as part of the coin minting process and really is unclear of the types of American steel or if these coins will be all steel or a mix of steels . Maybe it's just to make sure that our coins are minted with our materials cause I don't know where they purchase them now
Right now I won't worry cause know one in Washington has the ability to get any bill passed to begin with . IMHO < Woodstock

Most use an electromagnetic signature, (although some of the simpler ones like the ones you have to push in and pull out don't) and the signature differs depending on the composition of the coin. It is for this reason that we've had such odd alloyed coins such as the War Nickel which contained manganese (which is what made them turn green) so it would read the same as a nickel. In the same way, the Sacajawea dollar had a weird brass alloy so it would read the same as the SBA dollar (I believe it also contains manganese which is why if you ever see one which has had even the slightest hint of circulation it has tarnished nearly black).

You can already reject silver coins, CoinStar does all the time. And yes, its theoretically possible that you could scale up the sorting to places like Brinks, but I don't believe there would be enough silver to justify it/legal hoops to jump through on deciding who actually "owns" the sorted coins.

 

[sagittarius98]

New steel 5p and 10p coins a 'disaster' - Telegraph

 

[woodstock]

Thanks for the info about today's modern machines . You must mean the ones that take dollars from 1 to 20 . But in the case of machines that do both I would think the technologies involved inside would make the business owner avoid the price tag . But if you say so I'll have to agree cause I know zip on the inner workings of a Coke Machine . Thanks for the follow up ... Woodstock

Most use an electromagnetic signature, (although some of the simpler ones like the ones you have to push in and pull out don't) and the signature differs depending on the composition of the coin. It is for this reason that we've had such odd alloyed coins such as the War Nickel which contained manganese (which is what made them turn green) so it would read the same as a nickel. In the same way, the Sacajawea dollar had a weird brass alloy so it would read the same as the SBA dollar (I believe it also contains manganese which is why if you ever see one which has had even the slightest hint of circulation it has tarnished nearly black).

You can already reject silver coins, CoinStar does all the time. And yes, its theoretically possible that you could scale up the sorting to places like Brinks, but I don't believe there would be enough silver to justify it/legal hoops to jump through on deciding who actually "owns" the sorted coins.

 

[woodstock]

Hey I get your point . And you have every right to point out you opinions on how everyone in the world it's called a Penny and here it's 1/100 of a dollar or a cent because I've read this same post without waiver many , many times in many , many posts so you've made your point and enough's enoug .... With that being said and not to be rude what does this fact have to do with anything that we are talking about in this post ? And your acting "offended" or your wording seems like you are offend and for no reason . You make it a big deal when it's not . Please accept the fact that maybe what you are saying is true but American is made with many , many people from everywhere in the world and to them it's referred to as a Penny and it not going to change soon even with your reminders and maybe the next time ad to the subject in the thread . No disrespect met here ... just stating the facts and if your posting please ad to the subject matter ... IMHO , Woodstock .

New steel 5p and 10p coins a 'disaster' - Telegraph

 

[woodstock]

And the Bill is the subject mater and not the penny or cent "quotation" you've become famous for . And our minting and our elected officials have made made many mistakes before ... so nothin' will happen ... nothin' ever does involving that many US coins ... IMHO , Woodstock

 

[sagittarius98]

And the Bill is the subject mater and not the penny or cent "quotation" you've become famous for . And our minting and our elected officials have made made many mistakes before ... so nothin' will happen ... nothin' ever does involving that many US coins ... IMHO , Woodstock

The reason why I posted it is to show that a change like this will force costs from vending machines and parking meters to adapt to the new coins.

 

[sagittarius98]

Please accept the fact that maybe what you are saying is true but American is made with many , many people from everywhere in the world and to them it's referred to as a Penny and it not going to change soon even with your reminders

Most of the people that call it a penny are people that are here for many generations. I know about diversity, I come from a European family, and live in a very diverse city.

 

[dejapooh]

...Can we just get rid of the Cu-Ni, Zinc and Steel coins and just go back to gold and silver?

Yeah, doesn't matter what kind of economic ruin a gold standard would cause.