Copper plated steel for nickel and cent

why not follow british and canadian and some other countries by using copper plated steel for nickel and cent?. it will lower the metallic cost. anyone know the price of steel per pound?. your comment?.

by using cupro-nickel plated steel for nickel could lower the cost from seven cents to two cents.

 

Log in or Sign up to hide this ad.

copper plated steel

Canadian coins

Value Diameter Thickness Weight Composition
1¢ 19.05 mm 1.45 mm 2.35 g 94% steel, 1.5% nickel, 4.5% copper

5¢ 21.2 mm 1.76 mm 3.95 g 94.5% steel, 2% nickel, 3.5% copper

 

similiar to japanese 50 yen coin?.

if jefferson nickel is worth more than 7 penny and the mint does not want to change its metal content. why not punch a hole to reduce its cost?. just like the japanese 50 yen coin.

 

made of steel

nickel and cent dropped heavily these few days. 5 cent nickel dropped from $0.098 to $0.088 while cent downed to below face value.

 

If the U.S. 5c. coin was struck in a steel-based metal,then it will no longer be called a Nickel.

Canada is no longer using steel-plated metal for the 5c. coin.It is being struck in cupro-nickel like it was between 1982 & 2001.

Aidan.

 

canada nickel

why not using steel for nickel?. why use cu-nickel?. tell me.

 

So what do Canadians call their nickels now that theyre plated steel?

 

Dopeuser,the Canadian 5c. is no longer being struck in steel-plated metal.

Aidan.

 

It costs more than one cent to manufacture just about anything.

Steel would chew up dies and the cost of plating and processing these would
also be high. Steel starts at about 35c per pound but nickel plated steel plan-
chets would cost around 38c per 100 or so. Add in another 1.1c each for fab-
rication costs and that means we'll be spending about 1.5c to inconvenience
people with a coin that costs even more than the toxic zinc penny.

What in the hell is anyone supposed to do with a coin that has lower value than
thje value of the time and effort to count it?

 

a nickel.

I think countries like the US and Canada need to get rid of the penny. It's the latest trend, and the penny has such little value, it makes economic sense to stop production. Then again, it's logical so I don't see them doing that.

 

lol..I call it five cents...lol

oh..and I want to add...this last month Ive taken 132 Lincolns out of canadian circulation..lol

 

I wouldnt mind them killing the 1 cent coin here in the US, but i hate the idea of having the nest smallest denomination being the 5 cent piece. It would be nice, if they do get rid of the 1 cent coin, to replace it with a 2cent piece - without lincolns portrait. make it a tad bigger then the 1cent piece, but with a star/hole/doo-dad in the center. It would be bigger, yet use less materials than possible the current cent.. possibly. but with a face value of 2 cents, it would cover manufacuring costs....

 

Jon,the U.S. did have a 2c. coin - between 1863 & 1873.It was unpopular,because it was such an odd denomination.

Here in New Zealand,we stopped using 1c. & 2c. coins in 1990,as the spending power for these 2 coins had gone downhill,& besides,it was costing more in terms of metal value for them to be struck.Australia followed suit in 1992 for the same reasons.

Aidan.

 

I do that all the time too. I'm going to "repatriate" them in July, but at the same time I'll "liberate" some of their brethren. lol

Daggarjon - interesting concept until you consider cash transactions and making change. You can round to the nearest 5c, but not to the nearest 2c. Not unless you made the nickel worth 8c, lol.

I like the idea of coins with holes in the center. Wouldn't it be great to be able to wear your pocket change on a small chain around your neck? I'm fascinated with modern coins that have holes in the centers.

 

it would be easier to round to the nearest 2 cents. think about it, betweenthe nickle and a proposed 2 cent coin, one could make change for 2, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15 .. and on up ... so if a transactiuon is for a cent, round it, three cents - round it. either way the customer or business would only lose 1 cent as apposed to a possible 4.

i know it would never happen... was just a thought i threw out there

 

Daggarjon - have you ever seen how difficult it is for some retailers to make change already? They would find your system to be WAY too complicated. Thin of how stupid the average person is, and realize that half of them aren't that smart. (shudders)

With the elimination of the penny, you only need to round 2 cents either way. (ex. $.05, $.10, $.15, etc.) It works very well in countries like Australia, Finland and New Zealand (which has also eliminated the 5 cent coin), just to name a few. Electronic transactions are not rounded in Australia. (I can't say about any other country, but I would presume it's the same), so this only applies to cash transactions, which, let's face it, are not as often as they used to be.

I think it would be very difficult to convince the US or Canada to get rid of the nickel as we use 25 cent coins, and not 20 cent coins like many Commonwealth countries. (Aus and NZ to name two particular ones) That just creates another level of confusion for the "average" person. Don't ge tme wrong. I'm all for it, but if the US can't get people off the dollar bill and onto a dollar coin, which makes perfect economic sense, then how in the world would you expect them to give up the penny even though most people don't even bother with them?

 

Topher,here in New Zealand,we no longer have a 5c. coin in circulation,so any price ending in 5c. is supposed to rounded down back to 0.If a price ends in 6c. & up,then it is rounded up to 10c..A lot of people over here reckon that retailers should be forced into labelling the actual cash price,because rounding poses a lot of problems.I personally have objections to rounding prices,as there's a lot of unscrupulous traders over here who con people.

Aidan.

 

Kill the one cent coin, but mint a couple for the sets.

 

I'm not a fan of rounding prices, either, but I think it should be used as an in-between step while the change is being made. (no pun intended, lol). But now, with NZ having nothing smaller than a $.10 coin, I do think that the government should make retailers set prices so there isn't rounding.

 

South Korea has released copper-plated aluminum coins last year. That is pretty interesting I must say. Aluminum is a lot softer than steel so perhaps that might be a good alternative. The denomination is 10 won, which is around 1 US cent or slightly less.