How much longer?

[Hawkeye]

I know that you hear every year about the government doing away with the penny and/or nickel. But with the metal value of the nickel now solidly more than face, how much longer do you think it will be minted in it's current composition? Maybe some announcement has been made that I'm not aware of, but if not, I was just curious what you all thought.

[JadeDragon]

There is a provision in the next budget for the Sec of Tres (I think) to change metal composition. The US is way behind Canada in debasing the coin currency.

[slvrbck]

It's coming soon. . . and its gonna come fast!

[Hawkeye]

Interesting. I figured it would be soon, so I had better go buy more nickels.

[johnbrickner]

I thought the Mint was lining it's ducks up on the wall. With so few 08's and even fewer 09's minted I thought they would not mint any 10's, retool and give us our new debased coin in 2011. But, I guess we were taking enough out of circulation they needed more. One would think it was an opportune time.

[highroller4321]

Pennies will change here soon but nickels have a long way to go!

[slvrbck]

Just my opinion, but I believe the nickels day of current composition is numbered. . .imminently. I dont believe the penny is going anywhere anytime in the near future but they may change the composition of that as well, most likely at the same time as nickel, probably to plated steel.

[smalltimeopn]

Grab some while the gittin' is good!

[GA-Silver]

I predict the penny will soon be history and at the same time the nickel will be "canadianized".

[ZigMeister]

Oh such a dilema for the powers that be. On one hand, they want to keep up the illusion that our fiat dollar has fairly stable value...versus the other hard reality that our Country is nearing bankruptcy (If not already there) through their reckless mis-management and spending. I suspect things will change when they are forced to start cutting spending (probably from the recommendations of some special commitee) as part of a Government-Wide austerity program...may happen in the next Congress. Although I think changes to our coinage can happen even sooner whereby the mint can decide this on their own and implement changes. The mint seems to be flooding the market with 2010 Shield cents and this to me signals some change may be coming soon.

[smallchange]

Nickel Forum, but in regards to the shield pennies. I also think they are flooding the market as well, but actual mint figures do not show anything totally out of the ordinary yet! Yep, higher than 2009, but not hi compared to even 2008.

If I was going to make a change in composition to a nations coinage, I would at least semi-flood the market with a newly designed coin, at least a year or two before changing the composition to avoid a direct 1:1 correlation that the general public could easily understand, to a change in design of a coin to a direct change in composition at the same time.

If this really is the case, and they do later make a change in composition of the shields, then the general public would, in this case, maybe start hoarding the memorials, of any type (zinc or copper) as easy to identify, but not the zinc shields. That way the transition could occur without major coin shortages.

[Ardent Listener]

I doubt that the current composition of the US nickel will last for two more years. Changing it won't be of interest to most people. All the government has to say is that they are saving US money and people will cheer the move.

[theo]

One big concern you have with changing coin compositions is whether or not the new coins will work in vending machines. But as I think about it, most current vending machine prices ($.75, $.85, $1.25 etc) do not require nickels.

[PreservingThePast]

One big concern you have with changing coin compositions is whether or not the new coins will work in vending machines. But as I think about it, most current vending machine prices ($.75, $.85, $1.25 etc) do not require nickels.

Now what makes you think they would suddenly become logical?

Read up on the history of the US Steel penny of 1943. It wasn't thought through then, so why would they do it today? Seems to me there is less brain power floating around in these particular areas than there was back then. Let's not ask the impossible.

[Treetop]

I am surprised our government hasnt all ready rounded up all the copper pennies, and replaced nickels to be honest.

Personally I wish wed scrap paper all together, and use metals for higher denomination coins.(dollars,5s,10s,20s,100s etc) coins of metal compositions that wont need replaced, and can be used for decades or even centuries without being replaced. Yeah yeah, i know many people wouldnt like it..... But thats what i would do if it was up to me.....

[commoncents]

We used to do that. Used to be some cool indian images on the $5 and $10, and a walking woman on the $20. Alas, this country has proven no more immune to the debasers than many others which now inhabit the scrap heap of history.

[neilgin1]

been stocking up on $100 boxes. the tellers like me. Sadly, i do tell a white lie, i say i need them for youth group bingo.

i know, but.......

and i got this urge to go get another box tommorrow......coz its coming and they'll spring it quick on us.