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New cent and nickel composition?
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<p>[QUOTE="mgk920, post: 1340236, member: 34365"]Right now, I would drop all coins below 25¢ as quarters are only barely useful in commerce anymore and all of the smaller coins are only useful for fine parsing of state sales taxes as well as replace the banknotes up to at least $10 with coins.</p><p><br /></p><p>Remember that due to inflation, we have added nearly two full 'zeroes' to the USA Dollar since FDR dropped the gold standard in 1933 (I use the price of gold as my inflation constant and yes, that constant works) - the buying power of a one cent coin of the 1910s and 1920s is nearly equal to that of one DOLLAR today, and yet, except for dropping the $2.50 to $20 gold coins, the slate of basic coins between then and now is unchanged. Half Dollars were more common in circulation than quarters back then, nearly all everyday small-time commerce was in coins ONLY and to have even one or two $1 banknotes in the wallet was to be carrying 'real' money around.</p><p><br /></p><p>Amazing.</p><p><br /></p><p>Mike[/QUOTE]</p><p><br /></p>
[QUOTE="mgk920, post: 1340236, member: 34365"]Right now, I would drop all coins below 25¢ as quarters are only barely useful in commerce anymore and all of the smaller coins are only useful for fine parsing of state sales taxes as well as replace the banknotes up to at least $10 with coins. Remember that due to inflation, we have added nearly two full 'zeroes' to the USA Dollar since FDR dropped the gold standard in 1933 (I use the price of gold as my inflation constant and yes, that constant works) - the buying power of a one cent coin of the 1910s and 1920s is nearly equal to that of one DOLLAR today, and yet, except for dropping the $2.50 to $20 gold coins, the slate of basic coins between then and now is unchanged. Half Dollars were more common in circulation than quarters back then, nearly all everyday small-time commerce was in coins ONLY and to have even one or two $1 banknotes in the wallet was to be carrying 'real' money around. Amazing. Mike[/QUOTE]
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New cent and nickel composition?
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