Alloy Recovery Program coming to the US?

[henrysmedford]

I found this report “THE FUTURE OF MONEY: COIN PRODUCTION” BEFORE THE HOUSE FINANCIAL SERVICES SUBCOMMITTEE ON DOMESTIC MONETARY POLICY & TECHNOLOGY UNITED STATES HOUSE OF REPRESENTATIVES APRIL 17, 2012 http://financialservices.house.gov/uploadedfiles/hhrg-112-ba19-wstate-rbosco-20120417.pdf

(2) Parallel adoption of an alloy recovery program – in which the United States Mint
collects and replaces copper‐nickel alloy coins in circulation with multi‐ply plated
steel coins and salvages the copper and nickel material from the retired coins – has
the potential to generate over $2 billion in additional revenue for the United States
Mint.

Any thoughts?

[mtalbot_ca]

Hummm.... I wonder if the US nickel hoarding days are as doomed as in Canada?

[henrysmedford]

Hummm.... I wonder if the US nickel hoarding days are as doomed as in Canada?

It would be more doomed than Canada as they might use the Ryedale proof Planchet. See --http://www.realcent.org/viewtopic.php?f=23&t=18414&hilit=+jarden

[John_doe]

higher premiums here we come.

we all knew this day would come. this is what we hoarded for gents!

[Copper Catcher]

First you have to realize who wrote the report and their overall adjenda:
The report was commissioned by Jarden Zinc Products, North America’s leading plated coin blank producer and a licensee of the Royal Canadian Mint’s multi‐ply plated steel technology.

Second, they do not recommend doing anything with the penny that I could tell except not to get rid of it, because of course they are selling the zinc blanks for that too.

They just want to sell the mint blanks that are mult-ply for the quarter, dime and nickel stating that by doing so the mint could save money.

I did not see anywhere in the report about the advantage of recovering 95% copper pennies and replacing them with a different metal coin.

[John_doe]

First you have to realize who wrote the report and their overall adjenda:
The report was commissioned by Jarden Zinc Products, North America’s leading plated coin blank producer and a licensee of the Royal Canadian Mint’s multi‐ply plated steel technology.

Second, they do not recommend doing anything with the penny that I could tell except not to get rid of it, because of course they are selling the zinc blanks for that too.

They just want to sell the mint blanks that are mult-ply for the quarter, dime and nickel stating that by doing so the mint could save money.

I did not see anywhere in the report about the advantage of recovering 95% copper pennies and replacing them with a different metal coin.

more for us.

[scyther]

I really hope this doesn't happen... Seriously. That would really annoy me. I don't know what else to say about this...

[John_doe]

I really hope this doesn't happen... Seriously. That would really annoy me. I don't know what else to say about this...

I see it as a win win which ever way they choose to go.

[scyther]

I really hope this doesn't happen... Seriously. That would really annoy me. I don't know what else to say about this...

I see it as a win win which ever way they choose to go.

Maybe you have a lot more stacked than I do. I certainly see how there could be some benefit to us. I just want more time to accumulate pennies... and I always assumed the nickels would remain for a long time to come.

[ZenOps]

Technically, since the US is so obsessed with bills, it would technically be possible to use 5 cent bills. China uses Yuan bills as 15 cents afterall, absolutely no shortage of those either, haha!