What's your take on Congress thinking about changing the metal content of the Penny & Nickel to steel ?
Congress should think about taking back control over issuing the amount of money that is in circulation. The Federal Reserve is robbing our savings through inflation. It doesn't matter what its made of, if its worthless to begin with.
If they do, it won't last long. People don't like change, and if they do change something, I think it shouldn't be too noticable. If I remember reading right, back in 1943, people weren't happy with the cent change, so they changed it back soon after. Phoenix
reading? Psht, I asked my grandparents, lol, born in '33 - they remembered it. They also said not many people were too happy with it, but used em anyway.
Yeah, I think I remember reading in a book or magazine about people not being happy with them. Phoenix
The Fed doesn't issue coinage. They buy it from the Mint at face value - no profit there. So as long as the coins are made of nickel or copper or even silver, they have intrinsic value. The same can't be said of paper.
The 1943 cents were zinc plated steel, not copper plated steel, which is being proposed now. There were two problems with the '43 cent: the color was not what people were used to and they confused them with other coins, and the zinc plating corroded into a black mess very quickly. Copper plated steel cents address both these issues. They'll be the same color they've always been (except for '43) and they'll probably hold up just as well as copper plated zinc.
The composition of current Canadian coins is as follows: 1 cent: 94% steel 1.5% nickel 4.5% copper plating 5 cent: 94.5% steel 3.5% copper 2% nickel plating 10 cent: 92% steel 5.5% copper 2.5% nickel plating 25 cent: 94% steel 3.8% copper 2.2% nickel plating 50 cent: 93.15% steel 4.75% copper 2.1% nickel plating 1 dollar: 91.5% nickel 8.5% bronze plating 2 dollar: ring: 99% nickel center: 92% copper 6% aluminum 2% nickel
The 1943 cent was a hastily made coin. Zinc coated steel was a recipe for disaster, but sacrifices had to be made for the war effort. Zinc and Steel corrode easy. Then the Mint discovered spent cartridge shells (brass) made an acceptable cent. The color on these were only slightly off and the brass could be collected from spent casings, and loaded from overseas in ships that would have little else but wounded to carry back. They even used this cheap source for one year after the war, why not, It was cheap. Plating the cent with Copper would make things like they are now. Just the inside metal would change, and thw weight, and cost. What ever happened the Aluminum idea? Kinda funny, we might have Copper Zinc cents, and Copper Steel cents in 2009
I've often wondered about the source of the shell casings used to make cents during the war. Were they small arms casings or artillery casings? I think the later, as they are much larger and easier to accumulate and ship. I doubt that anyone was detailed to police brass from a battlefield to collect the casings from small arms (.30-06, .30 carbine, and perhaps .45ACP), which would have been scattered everywhere.
True, much easier to put a box under where the Howitzer ejects the large shells. Might be brass from Bomber guns too, didn't most if not all of that end up inside the plane? Fighters had catch bins for it too I think. Didn't want the casings whacking the airplane.
Lots of silly stories about the 1943 Cent. In reality there was a little confusion about the color so that people did get confused knowing a Cent was supposed to be Copper colored. But as they became more into circulation they became a massive collectors item. As soon as the remake of the Copper looking ones came out everyone went nutty hoarding the 43 Steel ones. You've got to remember that there was very little vending machine problems with them. The reason is simple. We did not have to many vending machines back then and the ones we did have wouldn't take any Cents at all. My Dad used to go looking for them for me. At first in 43 it was easy but by 44 and 45 they were vanishing due to the hoarding. I ended up with about 30 rolls and mostly Uncirc condition back then.
While they did collect spent artillery shells and actually melt them down for the purpose of making cents - they never actually got around to doing it. No cents were ever minted from the metal recovered, for by the time the metal was recycled their normal sources for the copper were again available and that is what they used. You will find the story of making cents from artillery shells in many books. But you will only find the truth of the story in some obscure mint reports. But I will grant you, many folks thought the story true for decades.
