I'm getting really tired of seeing Jefferson, Roosevelt, Lincoln, and Washington everywhere I go. What would you guys want to see on American coinage? I personally wish for a return to Lady Liberty, designs like the Saint-Gaudens and Liberty Walking are both beautiful and classic and should be found again in US coinage. The eagle could also be changed. What do you guys think?
The entire run of American coins is pre-modern. Some of them are still proportionately sized, as if they contain silver (which they don't). And the designs are really quite plain.
I would like to see America do what Spain did - Spain went from having a bunch of boring, identical coins to having a unique, interesting, and intuitive coinage series. All of the new Spanish coins were distinct from the rest in colour, shape, and composition, could be easily distinguished even by the blind, and had nice designs too.
They went from this bunch of gray coins:
To this:
What you can't see here is the size: in the new Spanish series, the coins' size corresponded exactly and logically to their value, with the 1-peseta as the smallest and the 500-peseta as the largest. Meanwhile, in the United States, the 10c coin is the smallest and the 50c coin is the largest. It's certainly time for a change.
The problem with new designs or even denominations here in America is that people assume that just because something is different it is worth far more than face. This happened with dollar coins, 50¢ pieces and $2 bills. This completely wipes them out of circulation because everyone just keeps them.
Citeer: WhatacoinThe problem with new designs or even denominations here in America is that people assume that just because something is different it is worth far more than face. This happened with dollar coins, 50¢ pieces and $2 bills. This completely wipes them out of circulation because everyone just keeps them.
I was going to agree with this, but then I realized that the State Quarters disprove this hypothesis. Collecting State Quarters has been widely popular, but they still remain in common circulation. The same thing is observed with the Westward Journey nickels of 2004-2005.
If I were given unconditional control of US currency, I would implement the following:
1) Immediately discontinue the cent and the nickel. Both coins shall retain their monetary status, and shall continue to be legal tender, but no more shall be struck.
2) Make the dime copper colored and give it a smooth edge.
3) Discontinue the quarter. Replace it with a 20-cent coin the same size as the current cent, but with a reeded edge.
4) Reduce the half dollar in size to the current nickel.
5) Reduce the current dollar coin to the size of the current quarter.
6) Introduce a $2 coin identical to the current dollar coin.
7) Reserve the design for a bimetallic $5 coin the size of the current half dollar.
Citeer: WhatacoinThe problem with new designs or even denominations here in America is that people assume that just because something is different it is worth far more than face. This happened with dollar coins, 50¢ pieces and $2 bills. This completely wipes them out of circulation because everyone just keeps them.
I was going to agree with this, but then I realized that the State Quarters disprove this hypothesis. Collecting State Quarters has been widely popular, but they still remain in common circulation. The same thing is observed with the Westward Journey nickels of 2004-2005.
If I were given unconditional control of US currency, I would implement the following:
1) Immediately discontinue the cent and the nickel. Both coins shall retain their monetary status, and shall continue to be legal tender, but no more shall be struck.
2) Make the dime copper colored and give it a smooth edge.
3) Discontinue the quarter. Replace it with a 20-cent coin the same size as the current cent, but with a reeded edge.
4) Reduce the half dollar in size to the current nickel.
5) Reduce the current dollar coin to the size of the current quarter.
6) Introduce a $2 coin identical to the current dollar coin.
7) Reserve the design for a bimetallic $5 coin the size of the current half dollar.
Well, the state quarter although the reverse of it was significantly different, the obverse was nearly the same as was the size and color. But even despite that, I am seeing less and less state quarters already in the past couple years comparatively speaking to the basic eagle. Look at the 2009 Lincoln Cent series, people were just getting entire boxes of them and stashing them away, it's surprisingly hard to put a set together out of circulation
Citeer: WhatacoinThe problem with new designs or even denominations here in America is that people assume that just because something is different it is worth far more than face. This happened with dollar coins, 50¢ pieces and $2 bills. This completely wipes them out of circulation because everyone just keeps them.
I was going to agree with this, but then I realized that the State Quarters disprove this hypothesis. Collecting State Quarters has been widely popular, but they still remain in common circulation. The same thing is observed with the Westward Journey nickels of 2004-2005.
If I were given unconditional control of US currency, I would implement the following:
1) Immediately discontinue the cent and the nickel. Both coins shall retain their monetary status, and shall continue to be legal tender, but no more shall be struck.
2) Make the dime copper colored and give it a smooth edge.
3) Discontinue the quarter. Replace it with a 20-cent coin the same size as the current cent, but with a reeded edge.
4) Reduce the half dollar in size to the current nickel.
5) Reduce the current dollar coin to the size of the current quarter.
6) Introduce a $2 coin identical to the current dollar coin.
7) Reserve the design for a bimetallic $5 coin the size of the current half dollar.
I wouldn't discontinue the cent and the nickel. Instead, I'd reduce the size of the cent and change the composition to aluminium and also lower the mintages by the year. That way the cent slowly disappears from circulation and meanwhile can still be used.
I also would change the composition of the nickel, probably to a copper alloy or also aluminium. Further I do agree with the rest of your changes, but instead of issuing a 2-dollar coin, I'd rather issue a 5-dollar coin.
"For by telling them of many things without teaching them you will make them seem to know much, while for the most part they know nothing"
-Plato
In their December 2014 report to Congress, the US Mint stated that there is no worthwhile metal composition for the cent. Any savings gained from changing the nickel's composition would be miniscule compared to the retooling costs incurred by the vending industry.
Citeer: CeruleanIn their December 2014 report to Congress, the US Mint stated that there is no worthwhile metal composition for the cent. Any savings gained from changing the nickel's composition would be miniscule compared to the retooling costs incurred by the vending industry.
Citeer: CeruleanIn their December 2014 report to Congress, the US Mint stated that there is no worthwhile metal composition for the cent. Any savings gained from changing the nickel's composition would be miniscule compared to the retooling costs incurred by the vending industry.
They tested 29 different compositions sine 2012, and none of them are an improvement.
you can put pennies in a vending machine? The smallest I've ever seen here is 10 euro cents!
Really? At high school I can use 5 eurocents at vending machines as well! Only 1 and 2 eurocents are banned all across the country in vending machines.
"For by telling them of many things without teaching them you will make them seem to know much, while for the most part they know nothing"
-Plato
Citeer: DappereDodoyou can put pennies in a vending machine? The smallest I've ever seen here is 10 euro cents!
I've never seen a vending machine that accepts pennies, but then again I've never seen a vending machine that needed them. All vending prices I've ever seen have always ended in 5. Nickels, dimes and quarters are accepted everywhere.
Almost all vending machines also have banknote readers for small denominations. Given how long it's taking for vending machines to adopt credit/debit card readers, tt will probably be ten more years in the USA before vending machines accept mobile payments.
IF i had the ability to change the coinage, I would not get rid of the one cent coin, I would change it back to copper, make less of them, link it to Mexican coinage(one cent or X centavos instead of just one cent) make it in mexico where it would be made at less cost and the reverse would have advertising such as Starbucks or Old Navy, and the cents would be worth a little more at the place depicted.
I would keep all the currant sizes of all the coins, but by making less, we make it necessary for more people to bring in the hoards of coins they have in sock drawers and coffee cans. I would make other changes, such as linking the nickel and dime to Canada to encourage more trade and friendship between the two countries. Oh and get rid of the dollar bill.
Yes Honivi the last place i saw pennys used in a vending machine was the US post office.
But i would get rid of the penny. They should still make for collectors. Sell them at one dollar each. Or more. Get rid of the dollar bill and 2 dollar bill.
Me i would get rid of dime. Make the nickel the dime size. and the quarter the nickel size. And that it.We would have a nickel a quarter and one dollar coin. The vending machine could work with that
edit make the quater a fifty cent coin. Then they would have nickel,quarter, 50 cent ,and one dollar. Maybe a two dollar coin.
Considering inflation has eroded the purchasing power of the US Dollar 25 times over the last 100 years, a current quarter is worth what a penny was worth back then. To make things easier, you can keep the dime and quarter, repopularize halves and introduce 1, 2 and 5 dollar coins. A 100 years ago the silver quarter was the highest value coin that was commonly used. That compares with 6.25 dollars now.
In the 1940's there were commemorative half dollars made for every state. It included a landmark from every state as well. They did not do any for the territories though. I would like to see
-A silver half dollar for Northern Mariana Islands
-A silver half dollar for Puerto Rico
-A silver half dollar for Guam
-A silver half dollar for the U.S. Virgin Islands
-A silver half dollar for American Samoa
I am working on new American coinage designs and specifications. I will start a new thread with the final drafts of all my designs, but I want to show some of my drafts now:
I like that penny and nickel you've created, but I'm not so keen on the dime though, don't really like the abstract scenery of a random (Chicago?) city.
"For by telling them of many things without teaching them you will make them seem to know much, while for the most part they know nothing"
-Plato
Citeer: "Lotus07"I like that penny and nickel you've created, but I'm not so keen on the dime though, don't really like the abstract scenery of a random (Chicago?) city.
It's New York - the building on the right is One World Trade Center.
The problem is the public doesn't like the dollar and 1/2 dollar coins. They don't want to carry that weight around in their pockets. That's why you generally don't see them in circulation-they're all sitting in bank vaults. A $2 coin would have the same problem.
If you don't stand for something you'll fall for anything
What about a 5 dollar coin? It would be worth the weight.
"In my opinion, sir, any officer who goes into action without his sword is improperly dressed"
-Jack Churchill, on his assault of a Nazi german camp riding a motorcycle with his bow and arrows, scottish claymore and bagpipes
This is an old thread but the first time I'm seeing it. Since it has been raised from its slumber...
I think the penny and to a lesser extent the nickel have lost all usefulness. The penny costs more to manufacture than it is worth, and no one wants them. Businesses waste time counting them out of the change drawer, and then the customers either just throw them in a big change jar at home for eventual return to a CoinStar machine or the bank, or even throw them in the garbage! It serves no purpose except to be able to make exact change.
At minimum, we should discontinue the penny like Canada did, and round all totals to the nearest 5 cents.
I think the nickel is just about as worthless (and it too is sometimes produced at a loss) but if you get rid of the nickel and round everything to the nearest 0.10, it becomes hard to make exact change without going through contortions with quarters and multiple dimes. So if we get rid of the nickel we also need to switch from a quarter to a 20 cent piece. That might be a step too far for Americans!
The dollar bill should be discontinued so that people will actually use the dollar coin. I don't think weight is an issue. People have no problem carrying around a big old smartphone in their pocket. A couple dollars coins aren't anywhere near as bulky. I usually carry five to ten dollar coins in my jeans' change pocket and I don't notice any wait. I much prefer dollar coins to the bulk of many dollar bills.
Once the dollar coin is actually circulating, people might also start using the $2 bill.
The biggest obstacle to all these changes, sadly, is the vending machine industry. The retooling costs make it politically difficult to make any significant changes to the size, weight, or magnetic profile of the current coins.
I too would like to see a return to allegorical depictions of Liberty on coins instead of presidents. But I have a hard time seeing how that would fly politically these days.
I recently did some analysis of the value of Britain's coinage at the dawn of the decimal era, comparing it to current US dollar buying power.
In 1971, the new half penny had the buying power of 10 current US cents. That was the smallest denomination after the old halfpenny and penny were demonitized! So the new penny was worth 20 cents, the 2p 40 cents, the 5p $1, the 10p $2, and the 50p $10. And then you had a one pound note with a buying power of $20 in today's US money.
I think it would be great to go back to a system where you could actually buy real things like a coffee or your lunch with just a few coins and not even have to pull out your wallet.
Citeer: "crruisercharlie"The problem is the public doesn't like the dollar and 1/2 dollar coins. They don't want to carry that weight around in their pockets. That's why you generally don't see them in circulation-they're all sitting in bank vaults. A $2 coin would have the same problem.
The problem here could be the $2 coin not existing. If there wasn't a $1 banknote, and $2 bills not in circulation, you would get back up to 4 one dollar coins every time you pay with larger banknotes. If there was a $2 coin or just large amounts of $2 notes in circulation, $1 coins (and $2 coins) would be accepted more, I think.
Citeer: "Cerulean"4) Reduce the half dollar in size to the current nickel.
5) Reduce the current dollar coin to the size of the current quarter.
6) Introduce a $2 coin identical to the current dollar coin.
My first idea was, that's way too small, but that would roughly be the size of Swiss currency of the same denominations!
Only 1 and 2 eurocents are banned all across the country in vending machines. 
