People in the USA need to get their panties out of a bunch. Canada has made steel coins for years, no one whines. Now the are making their DOLLAR COINS out of steel.....and no one whines! But if we mention to people about getting rid of the penny, or making it out of steel, it causes an uproar.
RCM is not beholden to a US congress that is corporately sponsored by metals firms like the US mint is. RCM acts pretty independently as a crown corporation and is not subject to a lot of the nonsense the USM is as a result of congressional oversight.
http://ca.finance.yahoo.com/news/hey-canada-spare-nickel-steel-090008389.html It say it will save us 16 million a year.
What is really amazing is how the government got the citizens to accept its fiat currency in the first place. After millenia of specie, people readily drank the Kool-Aid of unbacked currency.
Why? In this case Detecto is absolutely correct. Really? What steel coins do you have a lot of experience using? What was it about them that caused a problem? And they are not us, they show sense when faced with reality. And this has happened over and over again during those millennia. Money debases, economy collapses, a monetary reform takes place, specie is reinstated at a new valuation, and then the debasement starts over again.
