PREV ARTICLE       NEXT ARTICLE       FULL ISSUE       PREV FULL ISSUE      

V10 2007 INDEX       E-SYLUM ARCHIVE




The E-Sylum:  Volume 10, Number 27, July 8, 2007, Article 23

ON ELIMINATING THE CENT

Tim Shuck writes: "Dick Johnson’s comments on why we no longer need
the cent are persuasive, and I agree that ‘deficit’ minting of coins
needs to end.  However, if rounding to ten cents is implemented he
might want to reconsider removing cents and nickels from circulation,
either physically or by revaluation.

[Revaluation has been one of the options proposed. -Editor]

"Under such a scenario, if I use quarters to pay for a purchase
ending in 20 cents (using one quarter), 60 or 70 cents (using three
quarters), how would I get the five cents in change back? Forced use
of dimes would be an inconvenience that, along with political (and
practical) issues related to revaluation, will make elimination of
the nickel a non-starter in my opinion. And we might need those cents
as well to make up five cents in change.

"I could suggest, tongue halfway in cheek, that if cents and nickels
go, the quarter also needs to be replaced with a new 20 cent piece;
history in the making and a host of new collecting possibilities. If
that happened all circulating coins would then be an even multiple of
the lowest denomination coin, which is needed to avoid the five-cents-
in-change problem. This seems too obvious; am I missing something
here?"

  Wayne Homren, Editor

Google
 
coinbooks.org Web
The Numismatic Bibliomania Society is a non-profit organization 
promoting numismatic literature. See our web site at coinbooks.org.

To submit items for publication in The E-Sylum, write to the Editor 
at this address: whomren@coinlibrary.com

To subscribe go to: https://my.binhost.com/lists/listinfo/esylum
Copyright © 2005 The Numismatic Bibliomania Society.

PREV ARTICLE       NEXT ARTICLE       FULL ISSUE       PREV FULL ISSUE      

V10 2007 INDEX       E-SYLUM ARCHIVE


Copyright © 1998 - 2005 The Numismatic Bibliomania Society (NBS)
All Rights Reserved.

NBS Home Page
Contact the NBS webmaster