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New bipartisan bill would let the U.S. Mint alter the metal content of coins to save money
CNBC ^
| 4-20-23
| Christina Wilkie
Posted on 04/24/2023 5:34:43 AM PDT by dynachrome
A bipartisan bill to authorize the U.S. Mint to alter the metal content of coins in order to save taxpayers money will be reintroduced on Thursday, the two senators sponsoring the bill told CNBC exclusively.
The bill’s reintroduction comes just days after a new report from the U.S. Mint revealed that in 2022, soaring costs for raw metals drove the price of minting a single nickel past 10 cents, or more than double the value of the coin itself.
GOP Sen. Joni Ernst, of Iowa, and Democratic Sen. Maggie Hassan, of New Hampshire, say their legislation is designed to cut the rising expense of minting America’s quarters, dimes, nickels and pennies.
(Excerpt) Read more at cnbc.com ...
TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: alter; bidencriminalregime; coins; debase; nickels; usmint
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Aluminum? Brass? How far can the currency be debased?
To: dynachrome
They already make pennys out of some lightweight cheap metal with a thin copper coating.
2
posted on
04/24/2023 5:37:45 AM PDT
by
bk1000
(Banned from Breitbart)
To: dynachrome
3
posted on
04/24/2023 5:37:50 AM PDT
by
csvset
(tolerance becomes a crime when attached to evil)
To: dynachrome
Back to a wooden nickel? Govt has no problem spending money like a drunken sailor, but wants to cheapen our currency. Might as well replace our coins with poker chips. Because anything the govt does now is a crap shoot
To: dynachrome
I still remember back around 1964 when they started putting copper into quarters, and how odd that looked to me.
Now, they will make quarters like Centavos (equivalent to pennies, IIRC) in the Philippines, which would actually float on water.
That fits.
5
posted on
04/24/2023 5:39:07 AM PDT
by
rlmorel
("If you think tough men are dangerous, just wait until you see what weak men are capable of." JBP)
To: dynachrome
Could they make a “hole’ in the middle of it like that Chinese coinage I’ve seen? That would reduce the amount of total metal needed. Maybe not too big a hole or it would make the coin resemble a metal washer ring or other.
6
posted on
04/24/2023 5:39:15 AM PDT
by
desertsolitaire
(Nothing Changes if Nothing Changes)
To: bk1000
7
posted on
04/24/2023 5:39:31 AM PDT
by
dynachrome
(“We cannot save Ukraine by dooming the US economy.” Rand Paul)
To: dynachrome
8
posted on
04/24/2023 5:39:46 AM PDT
by
Gen.Blather
(Wait! I said that out loud? )
To: dynachrome
Following the path of Rome.
9
posted on
04/24/2023 5:40:13 AM PDT
by
Jonty30
(Black widow spiders aren't the only species that eats their mate after finishing with them. )
To: dynachrome
Typical banana republic coins.
10
posted on
04/24/2023 5:40:32 AM PDT
by
kenmcg
(ti hi o)
To: dynachrome
First, eliminate the penny. Round every purchase to the nearest nickel.
11
posted on
04/24/2023 5:40:48 AM PDT
by
Blood of Tyrants
(It's science and therefore cannot be questioned!)
To: dynachrome
The metal slugs electricians have left over, after installing an electrical outlet.
12
posted on
04/24/2023 5:40:59 AM PDT
by
Jonty30
(Black widow spiders aren't the only species that eats their mate after finishing with them. )
To: csvset
They are pushing for digital currency.
13
posted on
04/24/2023 5:41:32 AM PDT
by
Blood of Tyrants
(It's science and therefore cannot be questioned!)
To: All; dynachrome
Current melt value of a nickel is 0.0628284 (6.28 cents)...they aren’t going to save much on the supposed “10 cents to produce” by switching metals.
https://www.coinflation.com
14
posted on
04/24/2023 5:42:04 AM PDT
by
Drago
To: dynachrome
Aluminum? Brass? How far can the currency be debased? What do you think modern US circulation coins are made of?
15
posted on
04/24/2023 5:43:02 AM PDT
by
NorthMountain
(... the right of the peopIe to keep and bear arms shall not be infringed)
To: dynachrome
Get rid of nickels....period...
To: dynachrome
We shall see how strong the vending machine lobby is these days.
Any change to the weight and/or diameter of coinage could mean billions spent by the industry in updating or replacing coin mechanisms.
17
posted on
04/24/2023 5:45:26 AM PDT
by
Yo-Yo
(Is the /Sarc tag really necessary? Pray for President Biden: Psalm 109:8)
To: dynachrome
18
posted on
04/24/2023 5:45:27 AM PDT
by
SaveFerris
(Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
To: Blood of Tyrants
[They are pushing for digital currency.]
Not here yet, but coming to planet Earth:
19
posted on
04/24/2023 5:46:53 AM PDT
by
SaveFerris
(Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
To: Yo-Yo
Most seem to going to using a debit or credit card.
20
posted on
04/24/2023 5:46:53 AM PDT
by
dynachrome
(“We cannot save Ukraine by dooming the US economy.” Rand Paul)
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