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<p>[QUOTE=&quot;Conder101, post: 1374554, member: 66&quot;]Actually his budget proposal included language to allow the mint to research for material to make such a change.&nbsp; The same legislation he signed last year and the same authority they have always had.&nbsp; They still have to have Congressional approval to actually make any changes to the coins.&nbsp; (The final report on proposed new alloys is supposed to be ready at the end of 2012.&nbsp; They will probably spend 2013 debating them so I don&#039;t see any real changes until 2014.)</p><p><br /></p><p><br /></p><p>Yes but cost more than one cent to make not not including the cost of materials.</p><p><br /></p><p><br /></p><p>Or down.</p><p><br /></p><p><br /></p><p>Why?&nbsp; Since the rounding would occur AFTER the sales tax is applied prices could still end in .99&nbsp; After all we don&#039;t have mil coins but gasoline is still priced in mils.</p><p><br /></p><p><br /></p><p>Why?&nbsp; There is no reason why sales tax rates would change.&nbsp; There are areas of the country that have rates such as 8 1/2% or 8 1/4% but we don&#039;t have half cents or quarter cent pieces.&nbsp; The taxes are figured and then rounded up or down to the nearest cent.&nbsp; If they eliminate cents prices will be totaled, your 6% tax rate will be applied and the total rounded up or down to the nearest 5 cent.&nbsp; They already do this with your 6% rate except they round up or down to the nearest cent.&nbsp; (And yes sometimes it is rounded DOWN)&nbsp; The tax rate will not change.&nbsp; If a state tries to use this as an excuse to make such a change they are just trying to rip you off.</p><p><br /></p><p><br /></p><p>Then it is a waste of time.&nbsp; The cent currently costs 2.41 cents to produce, .43 cents of that is the cost of materials.&nbsp; So even if the cost of materials was totally free it would still cost 1.98 cents to make each cent.&nbsp; It is IMPOSSIBLE to stop the cent from being a money loser unless you sell advertising space on it.</p><p><br /></p><p><br /></p><p>You can do that for the five cent but you have a new problem, they won&#039;t work in current vending machines.&nbsp; Every machine will have to have a new coin mechanism.&nbsp; Or be set to refuse five cent pieces.</p><p><br /></p><p><br /></p><p>If you chack the laws relating to it you will find it is always referred to as a five cent piece.</p><p><br /></p><p><br /></p><p>Not immediately but once the cents disappear from circulation they will probably make it legal again since there will be no reason to try and protect them.</p><p><br /></p><p><br /></p><p>Nope</p><p><br /></p><p><br /></p><p>Nah, we&#039;ll leave the candy bar priced at .99 X 1.06 = 1.0498 and round it to $1.05&nbsp; And right now if you buy something that costs $1.05 with tax it comes to $1.113&nbsp; They don&#039;t round that up to $1.12 do they?&nbsp; No they round it DOWN to $1.11 because they know it will be made up on other amounts where the tax amount ends in .005 or higher which will round up.&nbsp; The same thing will happen to the nearest five cent with rounding both up and down.[/QUOTE]</p><p><br /></p>

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