I just read Dave from the country's question about Canadian cents (https://www.cointalk.com/threads/1997-and-1998-w-canadian-pennies.280500/) and it made me look at this http://www.mint.ca/store/mint/learn/coin-production-1200012. "Volatile base metal prices and rising production costs have created global demand for an alternative to the conventional coin. The Mint's revolutionary patented multi-ply plated steel technology offers significant advantages: "Substantial savings in time and materials: multi-ply plating uses less nickel, copper or bronze than usual methods, and is dramatically quicker than single-ply Superior performance: nickel plate resists tarnishing better than cupronickel and ferritic stainless steel Heightened security: multi-ply coins possess optimum electromagnetic readability, to ensure security and prevent vending machine fraud." It makes me wonder why The US doesn't use this process. Opinions?
Hey.. I wonder if anyone realizes that there is a bank in the US which is originally Canadian? TD Bank - The company is a subsidiary of The Canadian Multinational Toronto Dominion Bank
Would probably help making production less expensive, yes. Then again, since the Canadian Mint also emphasizes the security aspect: Maybe the incentive to develop such new technologies is higher if the denominations involved are not just pennies, nickels, dimes and quarters? Christian
For sure. Look at the lack of security features on the 1 by comparison to other denominations. Would probably need at least a 5 dollar coin for the security aspect to start to be a major factor in the decision making.
From the title, I thought the OP wanted us to mint a colorized dinosaur coin that glows in the dark...with perhaps Harriet Tubman on the obverse.
I had to laugh at this. I've lived up here north of the border since '97. Canada did away with cents last year. When you go to any store, it's rounded to the nearest 5 cents. Evidently, their new technology didn't make up for the huge man-hours spent for cashiers to make penny change from the till. It has shown to save hundreds and hundreds of man hours and made lines move much quicker. Maybe if the mint would have made pennies with superman or kindergarten drawings on them like the rest of the crap they put out, Canada would have kept the penny but, alas, it's gone and will never return.
Unless the price of nickel and or copper shoots up drastically or counterfeits start to appear in mass volume - there's no real incentive to invest in newer technology. You can start talking about political stuff but we'll leave it as it is.