Discussion in 'US Coins Forum' started by Phil Ham, Jan 16, 2021.
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I don't follow such things but I thought it's been up around $0.075 for quite a while.
Or am I mixing up total production cost vs. metallic value of just the coin.
I think production cost has been above 7 cents apiece for a while & the OP is talking about intrinsic costs.
What would be the alternative for a cheaper material? Aluminum bronze? Or polymer with a stamped nickel security thread inside?
How much would it cost to do a sandwich coin like the dime and quarter?
Discontinue the cent and do a sandwich coin like the cent.
If the penny costs about 2 cents in it's current form, it would probably be close to 5 cents to make something the size and thickness of the nickel.
How many accountants does it take to change a light bulb"
The answer: 3. One to hold the light bulb and two to turn the ladder.
No, for accountants I'm pretty sure it's one to change the light bulb, one to audit the bulb stock list, one to audit the ladder stock list, one to audit the power records for the fixture...
If you were to eliminate the production of the cent and/or nickel - the production overhead allocated to this production would be reallocated to the production of the remaining coinage - cause their cost of production per unit to increase.
Of course, then the metal cost would be four times as high, and good luck finding a material to use for dies...
Titanium dies of course or diamond. LOL And the initial cost of producing them would be offset by their longevity. Of course I'm just giving my imagination a flight of fancy.
Lordy.... Could you imagine how simple it would be to counterfeit a plastic coin?
That would be a huge mistake. It would only add fuel to a hyperinflation fire that I see coming in the near future. The Mint is already prepared to change the composition of ALL our coins. We don't need any more debased currency.
When you add in labor, equipment, etc. it's always going to cost more than face, besides just the metal content.
It's true that minting a nickel costs more than just the material costs. But if the metal value in the coin exceeds its face value by enough, for long enough, they'll start disappearing from circulation -- even if it's "illegal" to melt them.
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