Cents (pennies) and nickels only had value because the government said they did. Dimes, quarters, halves and dollar coins before 1965 had nearly face value because of their silver content.
When they decided to take the silver out of the dimes and quarters (they left some in in the halves for a few years) the major reason for making the ‘sandwich’ coins was make them compatible with existing vending machines. Other nations like the U.K. and Canada simply switched to a copper-nickel blend.
While a shift to cheaper metal does mark yet another decline, the truth is our small change hasn’t real value for over a half century, or no more real value than our paper money.
A pre-’65 silver dime has $1.82 worth of silver in it. For $1.82 you can buy two Snickers bars. The same dime would have bought two Snickers bars in 1964.
Snickers bars are more costly than that now.
I personally don’t care for change under a quarter. I routinely throw the pennies, nickels and dimes into the little recepticle next to the cash register.
Sure, I could take them home and throw them into a jar as I have for years, then take them down to the bank to get rolled up, but...I can’t be bothered anymore.
If they went away, and I had to pay 75 cents instead of 62 cents, I wouldn’t shed a tear.
At least the change won’t end up in my washing machine or dryer anymore making a racket.