Comments on: U.S. Mint Produces 3.21 Billion Coins for Circulation in First Quarter

By: Paul Mason

Paul Mason — Sun, 25 Jul 2021 05:57:55 +0000

In reply to Clyde James. Actually that Makes 6 Cents a 1 cent coin and a five cent coin makes six sense/ Cents I mean,

By: Clyde James

Clyde James — Sun, 13 Jun 2021 18:36:47 +0000

Regardless of who is president or in the majority in Congress, the minting of 1 cent coins AND five cent coins makes absolutely NO SENSE…. Neither does the printing of 1 dollar and 2 dollar bills. Other modern wealthy countries have long since done the logical thing and discontinued the minting of such worthless coins, and printing of bills with such a low buying power as the 1 dollar bill.

By: Mark D.

Mark D. — Fri, 30 Apr 2021 23:57:38 +0000

In reply to chuck. I hate to be the ant at everyone's picnic, but I find it truly odd that numismatists advocate eliminating coins. Just my 2¢. Ahem. In truth, I'm largely ambivalent on this front. Simply couldn't pass up a chance for cold-blooded, pre-meditated pun-icide (pun aside). Cue Gaffaw & order SFX.

By: Clockwork Squirrel

Clockwork Squirrel — Fri, 30 Apr 2021 18:17:45 +0000

In reply to c_q.

Pretty much the same thing can be said about continued printing of $1 notes. Crane has had a “forever” monopoly on the special paper used and fights tooth and nail to defend their interests. IIRC some years back their predecessor (also named Crane!) successfully lobbied Congress to forbid both discontinuing the dollar bill _and_ any changes to its design.

It would seem to me that a win-win would be for the BEP to discontinue the dollar bill in favor of a combination of a modernized $2 note augmented by all those coins now sitting in vaults. No one would need more than a single $1 coin to make change, traditionalists could still have their “foldin’ money”, the BEP’s workload would drop by 20-25%, and some of the savings could be used to assuage the tears at Crane. But I’m just fantasizing …

By: chuck

chuck — Thu, 29 Apr 2021 21:38:40 +0000

In reply to c_q. Your point about not making them is spot on. But, no President or their Administration would want to admit $.01 is not what it was before they got power and of course cent collectors and as you also noted others would not be happy either. Indeed, all about Politics and not about common sense.

By: c_q

c_q — Thu, 29 Apr 2021 18:00:19 +0000

i don’t see the point of making 1-cent coins – there are untold billions of them already made, there should be more than enough to go around. but most of them wind up in cups and drawers and couches and never get put back into circulation. the mint could save a ton of money by just not making any, or at least make a lot less each year (maybe just for collectors). but there are too many interests pushing to have them made (mining companies, employees and the treasury union, and nostalgic people).

By: Richard Arguile

Richard Arguile — Thu, 29 Apr 2021 17:04:28 +0000

In 2022 Congress orders the US Mint to replace the one cent coin with an identical two cent coin – exact same size and weight – just change “one cent” to “two cents”. Coin is issued to banks at 50 to $1.00. Coin can be used to give change either as one cent or two cents. In 2024 US Mint begins removing 2021 and earlier one cent coins from circulation paying $1.50 for every one hundred coins returned. After January 1 2026 all one cent coins left in circulation are considered worth two cents.