Steel pennies coming back?

[Dan Hughes]

Well, Congress and the U.S. Mint are at it again.

This time, they are considering replacing our current pennies and nickels with less-expensive-to-make coins, possibly made of steel. Seems it now costs over two cents to make a penny, and over eleven cents to make a nickel. That's just not good economics. Lab tests of new coin formulations are being conducted as we speak.

And yet another bill has just been introduced in Congress to replace dollar bills with dollar coins, and this one is co-sponsored by two heavyweight senators: Iowa's Tom Harkin and ex-presidential candidate John McCain.

There's coin news for our friends in Canada, too. It looks like there will be a new loony, replacing the current one. It will be lighter and made of multi-ply steel. (Might be a good time to buy stock in steel companies.)

These stories and more, in this edition of In the Treasure Corner.

Listen at http://thetreasurecorner.com.

---Dan

 

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[Charlie P. (NY)]

Not a bad idea making a dollar coin - provided they make it substantially larger than a quarter and of a metal that doesn't dissolve when left outdoors. 316 Stainless would be good.

 

[Dan Hughes]

Not a bad idea making a dollar coin - provided they make it substantially larger than a quarter...

This would make magicians happy too. I dabble in the hobby, and quarters are too small to palm easily. Half dollars are perfect, but when's the last time anybody saw a half dollar? When I was a kid, they were in circulation and as common as quarters. But sometime in the 1970s they just disappeared.

 

[spartacus53]

Here we go again with this push for dollar coins

The only people that will appreciate this changeover from paper to coin will be manufacturers of replacement pockets Imagine making several purchase during the day and getting a boatload of coins in return.. Not only will you have the small change, but now $1 coins.

I guess the newest fad will be wearing balloon clown pants to hide the bulges

 

[Smudge]

I'm all in favor of the dollar coin and not just because I'm a detectorist. A dollar coin that last over 25 years vs. a dollar bill that lasts for six months is a no-brainer to me.

I've also heard about peole complaining their pockets would bulge with coins.

To them I'd say "Hey doofus! Why don't you spend some of those coins instead of lugging them around in your pocket? You spend 'em, your pockets aren't full!" Seriously!

Oh, and if they wanted to drop a few, thats ok by me too.

 

[spartacus53]

Smudge, the other thing I neglected to mention was that I would hate to sound like a pack of tic-tacs walking down the street.

 

[Smudge]

Just pretend you're in the Old West and that clanking is your spurs.

 

[JmCraz8]

Have a wallet full with dollar coins lol

 

[spartacus53]

Have a wallet full with dollar coins lol

Wallet We'd need a mans carry all.... I'm not into purses either

Smudge, even if I were to wear boots with spurs it wouldn't work... Boots with spurs and clown pants is just a big fashion faux pas