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Is a "cash-less" society pushing us toward lower mintage coins?
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<p>[QUOTE="mikenoodle, post: 934268, member: 307"]I am fascinated by the way that the US Mint has decided through the years whether or not they will mint coins in any given year.</p><p><br /></p><p>I am also fascinated that as a society we become more and more removed from using coins in our daily lives.</p><p><br /></p><p>As a personal example, my wife and I have been saving for a trip to Hawaii for our anniversary and to renew our vows. One of the ways we hope to be able to afford it is by using airline miles that we accumulate when we use our debit cards.</p><p><br /></p><p>Now this has us obsessively using those cards for anything and everything. I once bought a 7 cent screw using my debit card (the store lost money on the transaction). No matter how small the purchase, I use my card.</p><p><br /></p><p>At college, my daughter uses a smart card for everything, and when I send my kids away for a trip, I usually give them money in Visa gift cards.</p><p><br /></p><p>The end result of this is that we very seldom use cash or coin anymore. In fact as little as we possibly can.</p><p><br /></p><p>Last year, nickel and dime production fell to its lowest mintage in years. The other coins were all commemorative last year so I understand the need for production to fulfill demand. The question is that as our society moves further and further away from actual coin and cash transactions, will the need for coin fall so far as to eliminating the need for the high mintages of the past? Will mintages numbering in the millions be something that we associate with the end of the 20th century, or will over the next 100 years we eliminate our need for coin altogether?[/QUOTE]</p><p><br /></p>
[QUOTE="mikenoodle, post: 934268, member: 307"]I am fascinated by the way that the US Mint has decided through the years whether or not they will mint coins in any given year. I am also fascinated that as a society we become more and more removed from using coins in our daily lives. As a personal example, my wife and I have been saving for a trip to Hawaii for our anniversary and to renew our vows. One of the ways we hope to be able to afford it is by using airline miles that we accumulate when we use our debit cards. Now this has us obsessively using those cards for anything and everything. I once bought a 7 cent screw using my debit card (the store lost money on the transaction). No matter how small the purchase, I use my card. At college, my daughter uses a smart card for everything, and when I send my kids away for a trip, I usually give them money in Visa gift cards. The end result of this is that we very seldom use cash or coin anymore. In fact as little as we possibly can. Last year, nickel and dime production fell to its lowest mintage in years. The other coins were all commemorative last year so I understand the need for production to fulfill demand. The question is that as our society moves further and further away from actual coin and cash transactions, will the need for coin fall so far as to eliminating the need for the high mintages of the past? Will mintages numbering in the millions be something that we associate with the end of the 20th century, or will over the next 100 years we eliminate our need for coin altogether?[/QUOTE]
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Is a "cash-less" society pushing us toward lower mintage coins?
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