Why are dimes smaller in diameter than a modern penny??

Dime = silver
Cent = copper

It's that simple.

 

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That explains the historic diameters (see the previous posts here) but not today's sizes.

Christian

 

Yes, it does. Although today's coins are cupro-nickle alloys instead of silver and copper, respectively, the original sizes were determined based on the metals' value at the time. We have kept the sizes the same to avoid confusion.

 

Adapting machines to new coin alloys and sizes has worked in many countries. The euro is a special case anyway, but Canada and the UK for example have managed to go through such a process more than one time. I'm not saying it should be done in the US - but I don't think it would be such a big deal.

Christian

 

What would happen if a major country switched to plastic???!!!

 

Actually credit cards are "different" anyway. In Europe we mostly use the chip on the card while some countries (US, Brazil ...) focus on magnetic stripe cards. Moving to chip readers sure requires some changes to machines. Then there's contactless (card, phone) payments ...

Christian

 

I found this quite interesting and thought I would revive this older post.
http://www.coinbooks.org/v20/esylum_v20n39a11.html
@Paddy54

 

Material "nickel" was discovered in late 18th century, therefore, it was more expensive than today. Has there been any penny/cent coin made of nickel? I don't think so. Maybe, there were some nickel in some penny coins in the past, but, they were probably alloys in which I don't think there was more than 10-20% nicel in any cent coin if there was such an alloyed cent coin. I don't think there has been any cent coin made of pure nickel material.

While I am at this, let me say this.

When/if circulation of the cent coin is stopped, as proposed in the "coin with/out numeral" thread, the best material for the cent coin is neither cupper nor silver nor gold etc, but, it is nickel. Nickel is a durable material, wear and corrosive resistant, and has other technical advantages, and also more healthy material than other materials. Nickel is the best material particularly for the one cent coin.

 

@ErolGarip have you looked at the spike in nickel lately?
http://www.kitcometals.com/charts/nickel_historical_large.html#6months

 

Just a little anecdote worth mentioning that popped to the forefront from the far reaches of my memory banks.

I went through US Army Basic and Advanced Individual Training at Fort Jackson, SC beginning in July, 1966. Of course while participating in basic training, a recruit is forbidden from any niceties, such as a Coke out of a vending machine; these were completely OFF LIMITS. It was different in AIT, though, and there was an abundance of Coke and candy machines in the barracks and surrounding grounds.

A six-ounce, ice cold Coke in the famous glass bottle was only 5¢ out of the machines, BUT the machines would accept only nickels and quarters; they rejected dimes. The same was true of the candy machines, no dimes, just nickels and quarters. Why? because it was easy enough to file a penny down to the size of a dime, so the miscreant soldier could spend his time filing his pennies down and making a profit while enjoying his drink. The practice was so ingrained that even the Post Exchange would give your change to you in nickels, not dimes.

Just thought some of you might find this amusing.

 

So what? It is less than $5,0-5,5/Lb ($12 per kg). While doing some works at nickel casting industry I saw the days, decade ago, when the nickel price was more than $20-25/kg (more than $10/Lb.) It doesn't matter when/if the circulation of one cent coint is stopped the mint will produce the cent coin in nickel only once. By the way, today, overall total cost of billions of the cent made of zinc cupper alloy (each costs what? 1-2 cent?) is much much more than the cent that would be made of nickel as there won't be circulation of the nickel cent which will be kept in the pocket constantly as a "reference" money.

 

No "So what?" just FYI...

 

Clever Yankee Soldier ingenuity...

 

From 1857 to 1864 the cent was 12% nickel 88% copper. The metal value of the coin was .68 cents each

The current cent cost 1.5 cents apiece with zinc at $1.44 per pound. About 1 cent of that is the metal cost. If made of nickel the metal cost would be 3.3 cents apiece. If the cent is stopped then it doesn't have to be made of anything, if it was to continue making it of nickel would be follish because no matter how durable the metal is the coins don't disappear because they are worn out, they disappear because their purchasing is so low they aren't worth carrying. That's why they have to make billions more of them every year. So if they continued making them and made them of nickel the mint would simply lose three times as much

 

You are correct, under these conditions, which are incorrect... That incorrectness is main reason for billions of the cent are unnecessarily being made.

If the cent is stopped, then, doesn't it have to be made of anything? No. Even if it is stopped, the cent should still exist.

What I am talking about is about an historical error, an error continuing for centuries. I've already tried to explain it in the "coin with/out numeral" thread. But, it is not so easy to explain and to understand as well as there is no terminology for this, yet. For example, I called the one cent as "constant" of money and that may not be a good terminology for the common people. I think I found now a better word for it (as I said in my previous post above), "reference" coin. As an analogy, think about a scale, particularly old style scale with several weights are used to weigh the goods. Those weights which are used in weighing goods are continuously used. But, there is also weight rarely used, called "reference" weight which is also called "calibration" weight and that weight is not used to weigh the goods, but, used to weigh the weights from time to time. What is "reference" in the money? Non-exist, in this current stiuation. But, it should exist. What I am saying/proposing is that the one cent is the "reference" money, it is like "calibration" weight in the scale. So, the cent can be produced once only and it should not be circulated, but, should be carried in the pocket as "reference" coin. So, since the reference "one cent coin" has to be kept in the pocket for a long time it should be durable, resistant to wear and corrosion, etc and should be healthy material as well. For all these reasons, the best for the cent coin is nickel.

 

After hundreds of thousands of vending machines have been created - ANY change in coin sizes would create ASTRONOMICAL refit costs. That is why changes in designs are common but changes in diameters are rare.

 

Yet somehow other countries manage to carry off such changes with no problem. Look at how many times Mexico has changed coin diameters over the years. Or are Mexicans just smarter than Americans?

 

COULD BE or maybe their government doesn't give a damn what happens to the people when they change things. I've had one warning about politics talking about other governments and I don't want another one so I'm not going to speculate.