Updates from the coin news

one more joke on this thread, and then no more:

If we put Reagan on the $10.00, it would be only right to use those bills to pay off 90% of the national debt... a little reminder of where it all came from.

 

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Yep. People used to be aware of changes in their money all the time -- not just changes in design but changes in denominations as well. Since we've politicized our money, there's effectively gridlock in changing it.

And as a result of this gridlock, people no longer seem to know what to do with "new money" that comes along -- *spend* it along side the old money until people start putting the old money away for collections.

Not to mention that small denominations like cents and nickels often sit in jars for months or years at a time before people get around to spending them or bringing them to a bank or a Coinstar machine. Does anyone really expect to see many G-4 1978-D cents, say, 20 years from now? Or below VF, even? Contrast that to the typical 1912 cent old-timers saw in 1958, when it too would have been 46 years old. Most of them were spent and spent often.

 

The law simply states that the Federal reserve has the right to alter or change designs on any coin having circulated more than 25 years without congressional approval. This occurred many, many times. The only limitations were weight, size, legends, and on some issues having an Eagle reverse.
The founding fathers knew all too well what having an image would be like, and they asked for an image emblematic of Liberty. This was all we knew in various forms until 1909.
From that date, we have gotten nothing but images. For some they still do not see how close we are to having a living image on a coin. (Came too close with Reagan).