Should the US Change Metal Coins? (networkworld.com)

coondoggie writes: It may be time for the United States to rethink how the smallest parts of its monetary system — the penny, nickel and dime – are made. According to a report this week from watchdogs at the Government Accountability Office, since 2006 the prices of metals used in coins have risen so much that the total production unit costs of the penny and nickel exceed their face value resulting in financial losses to the U.S. Mint.

Comments

Yes, it's time.

[FrankSchwab]

Kill the penny.
Kill the Nickel.
Keep the dime - the smallest coin will now have the smallest value.
Kill the quarter
Create a new $0.50 piece a bit bigger than a dime, maybe a bit smaller than a penny.
Create a new $1.00 piece about the size of a nickel, maybe slightly larger.
Create a new $5.00 piece about the size of a quarter.

To avoid confusion between new/old, change something mechanical - put a hole through the middle, or make them all octagonal or decagonal.

If you're worried about cost, make the dime and half out of Aluminum. We've given up the concept of any actual value in our currency, so it's time to give up the artificial weight that made them feel like silver.

Don't try to differentiate them by color. As the Sacajawea dollar taught us, after a few years in grubby fingers and rattling around in pockets, all coins start to have the same surface color.

We end up with rationally sized coins, getting bigger as the value gets bigger. We get rid of the small valued paper money, which is also expensive to print/replace.

Re:Yes, it's time.

[dryeo]

Resize all currency (bills) to make them easier for the blind to use

In Canada we just have brail on the notes, which are now made of plastic as another saving, they're supposed to last a longer though not as long as loonies ($1 coin named after the Loon on it) or toonies ($2 coin).

Re:Penny

[serviscope_minor]

But even better, you've found a way to blame Canada :)

I saw the South Park movie with the Blame Canada song before I lived in the states. Then I moved for a bit. It was much funnier after living there. Blaming Canada seems to be something of a national pastime.