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Message:: [QUOTE="-jeffB, post: 3896426, member: 27832"]The "coin value backed by metal content" ship sailed a long time ago. It's a recipe for slamming the brakes on commerce any time there's a spike in metal prices. I've been preaching the death of cents, nickels and dimes for years now, using your same argument. When we started making coins, one cent was a measure of significant value, enough so that we needed half-cents for commerce. We stopped making half-cents in the 1850s because their value was no longer significant. Today, that "half-cent in 1850" value is between 10 and 25 cents, and closer to 25 cents. When it comes to commerce, one, five and 10-cent coins are just a source of friction. They should go away. Instead, though, I think all coins will go away, along with paper money, in favor of electronic payment.[/QUOTE]