I don’t think we’re there, because space is being used for the disposal of pennies.
That it costs more than 5¢ to make a nickel should be a sufficient reason to abolish or at least reformulate them. I’m indifferent about which because I don’t remember doing anything with anything smaller than a quarter this decade, aside from coin-collecting.
No, they’re right that nickels cost more than $0.05. They’re a little less bad than pennies, proportionally (but more per coin). But it is lack of volume that really makes it pay off. If you’re losing money on each coin, you want to make as few as possible.
I think this is the article I was thinking of
Maybe they’re just being anti Trump in saying (or implying) getting rid of the penny is bad but maybe not
Yeah, maybe. But they clearly don’t seem to understanding something - we’re not replacing the penny with the nickel. There no reason for the nickel demand to jump up to penny levels. I don’t see a reason for demand to significantly jump at all. And cost/coin, which they’ve focused on, is less important than cost/facevalue. Multiply their penny numbers by 5 to make a more valid comparison.
If they are still useful, they can be reformulated. It’s when they stop being useful that we should get rid of them.
I’m not certain whether they are still useful.
While I’m willing to believe that there are such, I haven’t seen a single left leaning person who opposes this EO and spend plenty of time in left leaning online spaces.
I think if you altered the size or weight of the nickel that would cause a lot of problems. If there is a way to make a clad nickel and keep the weight & size the same but use cheaper materials then great.
So many vending machines are calibrated for the current nickels, it doesn’t seem worth changing them.
I’ve seen a couple “hey, this is what we were trying to get passed and you blocked” comments, but nothing actually against it.
General q’s:
I cannot remember the last time i used change or received change.
So, very infrequently.
Lol. I use it at McD all the time - to keep the transactions off the books.
I buy live food for a reptile pet weekly and there is a surcharge for using a credit card for less than $5.00 so, being a cheap actuary, I pay cash.
Plus Mini Me’s allowance is cash, but it’s a whole dollar amount so no coins at least.
I also pay babysitters cash. Also no coins.
So the reptile store is really the only place I ever use coins.
I got change back from my annual Costco rebate check today. Got $xx.54, so I got to take 4 pennies out of circulation!
I used a quarter yesterday to rent a locker. But that was at a state prison, and the lockers are probably very old. (Hey, I’ve just started volunteering as a math tutor!) If i go to the corner grocery store to pick up something small, like a bunch of radishes, i try to pay them in cash because i know the fees for them to accept credit cards are burdensome. For a similar reason, i brought my checkbook last time i had my car repaired, but no coins in that transaction.
don’t always carry cash
If I do will use it for small purchases
NEVER carry coins. We sort them in a coin sorter and occasionally turn them in as pocket money before a vacation.
Wife plays Maj Jong, so uses change for that
“Pro life”
When I buy my morning soda at the company cafeteria it costs $1.26, and I pay the exact amount. A dollar bill, a quarter, and a penny. I am ITO 3 days a week, but sometimes I get an omelette for breakfast, and I pay with CC for that.
The nickel could be changed to something more cost effective to mint. Or killed. Several countries have rejigged their coinage after the coins were no longer cost effective to mint. Many coins were made smaller or of different materials.
You could bring back the 2 cent or 3 cent coin…
You just change the change machine settings by attrition. It would be most fair to the industry if the US introduce $1 and $2 coins as standard (e.g. withdraw the notes at the same time) so it was a one time big change in how the system works.
In the last week or so.