Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Why don't we use steel in our coins?
>
Reply to Thread
Message:
<p>[QUOTE="quarter-back, post: 1773312, member: 47022"]I'm not sure I buy the argument that changing coin composition would be too costly for the vending machine industry. It seems that about every six months the machines where I work are replaced with ones that have latest innovation to keep people from getting free stuff. Considering that, in many cases, it would require a simple switch-out of old coin mechanisms for new ones (not the whole machine), it can't be much more costly than constantly implementing new anti-theft designs.</p><p> </p><p>Also, keep in mind that the old coinage would still be around for years. Think about how many ~50 year old clad quarters you see and how long it will be before the currently circulating are no longer the vast majority of circulating quarters. This is especially true given that, for the foreseeable future, these coins really do not have enough intrinsic value to justify hoarding. So all of the machines would not have to be replaced at once. The older ones just wouldn't accept the new coinage. Keep in mind that it wasn't too awful long ago that you had to have coins to get anything out of a machine. If all you had was paper, you were out of luck. In fact, this is still the case in many places. So having money that won't work in a vending machine would not be a new experience. </p><p> </p><p>All in all, I think the vending machine industry would probably survive a switch to new coin composition.[/QUOTE]</p><p><br /></p>
[QUOTE="quarter-back, post: 1773312, member: 47022"]I'm not sure I buy the argument that changing coin composition would be too costly for the vending machine industry. It seems that about every six months the machines where I work are replaced with ones that have latest innovation to keep people from getting free stuff. Considering that, in many cases, it would require a simple switch-out of old coin mechanisms for new ones (not the whole machine), it can't be much more costly than constantly implementing new anti-theft designs. Also, keep in mind that the old coinage would still be around for years. Think about how many ~50 year old clad quarters you see and how long it will be before the currently circulating are no longer the vast majority of circulating quarters. This is especially true given that, for the foreseeable future, these coins really do not have enough intrinsic value to justify hoarding. So all of the machines would not have to be replaced at once. The older ones just wouldn't accept the new coinage. Keep in mind that it wasn't too awful long ago that you had to have coins to get anything out of a machine. If all you had was paper, you were out of luck. In fact, this is still the case in many places. So having money that won't work in a vending machine would not be a new experience. All in all, I think the vending machine industry would probably survive a switch to new coin composition.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Why don't we use steel in our coins?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...