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Old May 16th, 2010, 07:21 PM   #1
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Default the change for "change" is coming

http://www.politicsdaily.com/2010/05...-businesses%2F

Those pennies and nickels in your pocket cost more to manufacture than they are worth. That's why the Obama administration wants to use cheaper materials -- possibly an aluminum alloy -- to make the coins.

"Making coins from more cost-effective materials could save more than $100 million a year, which isn't just pocket change," said Dan Tangherlini, the Treasury Department's chief financial officer.

But some businesses, particularly vending machine owners and laundromat owners, are preparing to fight the administration plan to downgrade nickels. They're worried that any change in weight and metal content would require expensive overhauling or even replacement of their machines, The Los Angeles Times reported.

"We're all taxpayers, and we're all in favor of being able to mint coins at a more reasonable cost," Brian Wallace, president of the Coin Laundry Association, told the Times. "But we want to make sure there aren't unintended consequences that could deeply impact the small business owner during a recession."
Last year a penny cost 1.62 cents to manufacture. The nickel (which contains more copper than actual nickel) costs 5.79 cents.
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Old May 16th, 2010, 07:23 PM   #2
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Old May 16th, 2010, 07:32 PM   #3
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In before lock for posting politics in the pub.
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Old May 16th, 2010, 07:37 PM   #4
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The cost of cheese is going up too.
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Old May 16th, 2010, 08:51 PM   #5
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not politics related imo.
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Old May 16th, 2010, 08:59 PM   #6
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In before lock for posting politics in the pub.
i pmed someone to move it. since i forget how to report a post. hopefully they will.
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Old May 16th, 2010, 09:05 PM   #7
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not politics related imo.
Not sure how this not related to politics, I mean the first word in the web link is politics.
Why don't they just make the coins out of nylon while they are at it? Nylon guitar picks don't break, so I figure nylon coins should do the trick. Fuck it who am I kidding, this thread sucks.
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Old May 16th, 2010, 10:41 PM   #8
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The cost of cheese is going up too.
That's why you wait for immortal to post a wheel of used cheese in the freebie section.
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Old May 16th, 2010, 11:25 PM   #9
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That's why you wait for immortal to post a wheel of used cheese in the freebie section.
I still have that cheese btw. I shredded it, vacuum sealed it, and tossed it in my freezer. I'm sitting on pure gold I tell ya!
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Old May 16th, 2010, 11:29 PM   #10
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I have some aluminum coins from asia (korea maybe?), they feel like absolute crap. Way too light. It feels cheap and plastic like, definitely not like real money.
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Old May 16th, 2010, 11:31 PM   #11
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I have an idea to save them all kinds of money regarding change. Just don't make the crap. Or just make quarters and dimes. Everything else is useless. retailers with either have to round totals up or down a few cents for make it work, but that would save a lot of money and I wont have a damn jar full of pennies.

On the other side, do they realize that using an aluminum alloy will mean the coin will wear out a lot faster that the current blend of crap they use.
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Old May 16th, 2010, 11:32 PM   #12
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on a serious note....................

Ummmmm card sliders instead of coin slots. It is a futuristic means of payment. Stop making coins altogether. Start slapping on card sliders on the mf'ing gum ball machines too. It is another form of gubment control on the peoples. But seriously..........

I still have that cheese if anyone wants some.
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Old May 16th, 2010, 11:59 PM   #13
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i cant believe you have that haha.

and i dont like the idea of the card sliders, i mean that completely takes the *fun* out of realizing you have to much change around and have to go to the coinstar machine. its like getting free money you already had.
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Old May 17th, 2010, 12:43 AM   #14
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I bet the penny costs even more to make nowadays due to the fact that they keep changing the design. I wonder how much the proofs cost to make to change it all up.
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Old May 17th, 2010, 01:10 AM   #15
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on a serious note....................

Ummmmm card sliders instead of coin slots. It is a futuristic means of payment. Stop making coins altogether.
there are times when i wish the pop machines at work had card slots. pop machine in break room 75 cents pop out on sales floor $1.48. so i try to always have some loose cahnge with me.
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Old May 17th, 2010, 06:05 AM   #16
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I would like some of your cheese, Immortal.
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Old May 17th, 2010, 11:16 AM   #17
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I blame the creature from Jeckyll Island.

I guess we can say we are going off the copper and nickel standard now too, eh? Fiat currency is worth exactly one promise from the government.

At least coins have the value of their base metal even after the gov't goes bankrupt. Using zinc or aluminum instead of copper is evidence of theft through inflation, nothing more. You are being robbed by the Fed.

Hoard your nickels, in 5 years they will be worth 2x face value at least. Pre '82 pennies are already worth 2x face. When $100 in bills won't buy you a loaf of bread that copper and nickel will buy you a steak dinner, if you can find someone who still has the ability to manufacture it into something other than coins.


sarcasm/
Hey I know let's make nickels out of wood! Wooden nickels= awesome.

Better yet why don't they just knock a 0 off the end of every dollar? 10 old dollars = 1 new dollar, hey then those pesky pennies will be really cheap to manufacture. Hugo Chavez did it, we can do it too!

Now that's change you can believe in!
/sarcasm
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Old May 17th, 2010, 11:22 AM   #18
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dont worry they will one up it.... in the next fifteen years paper and coin money will be gone and we will be issued a federal plastic money card........
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Old May 17th, 2010, 02:04 PM   #19
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dont worry they will one up it.... in the next fifteen years paper and coin money will be gone and we will be issued a federal plastic money card........
They experimented with that about 5-10 years ago using smart chip cards. They even made keychain size swipers so you could exchange funds in private transactions.
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Old May 17th, 2010, 04:20 PM   #20
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well it got moved before I found the Pm, thanks for asking though.
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