The composition of the nickel is the same as it's always been. Proposals are under way to change it to something less costly. IMO, pennies and nickels should no longer be made. They cost more than their face value to make. As a bonus, this would free up two trays in cash registers for higher denomination coins ($1 and $5 perhaps). That in turn could save even more money by getting rid of the $1 and $5 notes, replacing them with coins which last several times longer.
I imagine a $2 coin is about as useful as a $2 bill, which is not very. But $1 and $5 coins might work here. Do they still make paper currency in $1 and $2 denominations? If so, that might be one reason everyone hates the coins. They don't circulate, and nobody has a chance to get used to using them. Regardless of whether we make higher denomination coins, it's long past time to get rid of the cent and nickel. At this point they're just a burden.We have $1 and $2 coins here and everybody hates them. It's one of those things that's good in theory but blows in practice.
Agreed with eliminating the $0.01 and $0.05 as they are worth so little. Several other countries in the world (eg Australia and NZ), and round cash transactions off to the nearest $0.10, and actually circulate enough $1 denomination coins that they are relevant.The composition of the nickel is the same as it's always been. Proposals are under way to change it to something less costly. IMO, pennies and nickels should no longer be made. They cost more than their face value to make. As a bonus, this would free up two trays in cash registers for higher denomination coins ($1 and $5 perhaps). That in turn could save even more money by getting rid of the $1 and $5 notes, replacing them with coins which last several times longer.
I recall last time I went to a theme park the vending machines were so expensive they didn't even try to accept change, you had to feed them bills or swipe your credit card...No more standing there trying to get the machine to accept the wrinkled damp bills from your wallet. Just drop in the coins , hit your choice and go!
I imagine a $2 coin is about as useful as a $2 bill, which is not very. But $1 and $5 coins might work here. Do they still make paper currency in $1 and $2 denominations? If so, that might be one reason everyone hates the coins. They don't circulate, and nobody has a chance to get used to using them. Regardless of whether we make higher denomination coins, it's long past time to get rid of the cent and nickel. At this point they're just a burden.
A smooth-edged brass coin with is difficult to distinguish from a thinner ridged-edge, nickel-plated copper coin? :thinking:We've had $1 coins for over 200 years, and it's never achieved more than novelty status. Since the newer incarnation is barely able to be casually distinguishable from a quarter, I wouldn't expect anything more than a novelty status from it either.
The penny absolutely should be eliminated. Vending machines don't take them. Many cashiers simpyl round up to the nearest nickel when giving change as well, or ask their customers if they want the penny as change -- for many, the nuisance of carrying the coin is not worth $0.01 ...There's no need to get rid of the penny or the nickel either. If one had to go, it would be better that the nickel went. I could make up the lack of a nickel with five pennies.
I liked the dollar coin from the start, but just can't understand why they made a coin that for the most part, both looked and felt like a quarter!?! When the first Washington coin hit my hands I thought they'd finally done it, but with no move to implement making them user friendly, it was pretty much impossible to break the paper money habit.I agree the Susan B Anthony dollar was a very bad design. When it was introduced weople would get short-changed $0.75 as a result of the confusion. I actually like new brass coin much better. That said, IMO if they were going to promote it as anything more than a novelty, they should have stuck with the tradition of Presidents, or at least people involved in American Politics on the coin. (I'm aware that the dollar coin IS being produced with the heads of the different presidents on it, but only as a collectible, not for general circulation...)
We've had $1 coins for over 200 years, and it's never achieved more than novelty status.