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Is it time to kill the penny & nickel? Or change the metal content of the nickel?
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<p>[QUOTE="alucard86, post: 3602277, member: 71849"]<a href="https://www.coinnews.net/2019/05/24/penny-costs-2-06-cents-to-make-in-2018/" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.coinnews.net/2019/05/24/penny-costs-2-06-cents-to-make-in-2018/" rel="nofollow">https://www.coinnews.net/2019/05/24/penny-costs-2-06-cents-to-make-in-2018/</a></p><p><br /></p><p>Canada, the UK, the EU have all killed their pennies, and round the price to the nearest nickel. Even Canada killed their $1 bill and use a $1 coin (loonie) and a $2 coin (toonie). I would be keeping the $1 coin if we got rid of the Washington dollar bill. But to have dollar coins and a dollar bill makes doesn't make any sense to me. </p><p><br /></p><p>I'd be for a $2 coin as well if we got rid of the Jefferson $2 bill, but I know it has a cult following. </p><p><br /></p><p>I think we have over 400 billion $ worth of $1 coins combined sitting in 3 mint basements (S, D, & P) collecting dust. If we keep the penny and nickel we might as well change their metal content to either aluminum or steel coated zinc like the steel penny. I just don't see the logical in keeping the current penny and nickel if the Seigniorage is completely in the red/negative for many years.[/QUOTE]</p><p><br /></p>
[QUOTE="alucard86, post: 3602277, member: 71849"][URL]https://www.coinnews.net/2019/05/24/penny-costs-2-06-cents-to-make-in-2018/[/URL] Canada, the UK, the EU have all killed their pennies, and round the price to the nearest nickel. Even Canada killed their $1 bill and use a $1 coin (loonie) and a $2 coin (toonie). I would be keeping the $1 coin if we got rid of the Washington dollar bill. But to have dollar coins and a dollar bill makes doesn't make any sense to me. I'd be for a $2 coin as well if we got rid of the Jefferson $2 bill, but I know it has a cult following. I think we have over 400 billion $ worth of $1 coins combined sitting in 3 mint basements (S, D, & P) collecting dust. If we keep the penny and nickel we might as well change their metal content to either aluminum or steel coated zinc like the steel penny. I just don't see the logical in keeping the current penny and nickel if the Seigniorage is completely in the red/negative for many years.[/QUOTE]
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Is it time to kill the penny & nickel? Or change the metal content of the nickel?
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