Do we really need a new nickel?

FuzzyBee

Diamond Member
Jan 22, 2000
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Is it just me, or is this a huge waste of our federal tax dollars?

link
The 5-cent piece is getting a new look, which the U.S. Mint -- the maker of the nation's coins -- was preparing to unveil on Thursday.
 

scauffiel

Senior member
Aug 11, 2000
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Originally posted by: fuzzy bee
Is it just me, or is this a huge waste of our federal tax dollars?

No. It's not just you. This along with the $32 MILLION dollar ad campaign for the new $20 bill is another in a long line of gubmint largesse.

S.
 

FuzzyBee

Diamond Member
Jan 22, 2000
5,172
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maybe it's 'cause of the rampnat nickel counterfeiting
rolleye.gif
 

kranky

Elite Member
Oct 9, 1999
21,019
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Actually, changing designs on coins is a money maker for the government, not a cost.

They know that any time a design changes, people sock away millions of the coins. It costs the government under 2 cents to manufacture a nickel, and the difference counts as profit to the government. So the demand goes up because people stash them away, the government makes more coins to satisfy demand, and they make more profit.

The actual cost of changing a design is nothing in the big picture, because the cost of raw materials and manufacturing is the same for any design, and that's where all the costs are.

 
Jan 18, 2001
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Originally posted by: fuzzy bee
Is it just me, or is this a huge waste of our federal tax dollars?

link
The 5-cent piece is getting a new look, which the U.S. Mint -- the maker of the nation's coins -- was preparing to unveil on Thursday.

how do you know its 'huge' waste of money?

1) no dollar amount is described in the article
2) the cost of new 'stamps' can be offset by the costs of repairing/replacing old 'stamps'
3) New coins are produced every year, for the next few years, the coins will just use a different design.
 

alm4rr

Diamond Member
Dec 21, 2000
4,390
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remember the Dollar coin?

No? that's right cuz it was a lousy #!@ idea.
If we wanted coin dollars, we'd be in europe with our lil change purses

Wonder which bureaucrat thought up that brilliant idea
 

RU482

Lifer
Apr 9, 2000
12,689
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Originally posted by: GreenGhost
We need coins that are worth something, like $1 and $5...

and they should weigh ~2-3Lbs, so you can throw them across the lunchroom and knock someone out
 

brentman

Senior member
Dec 4, 2002
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Things are going to get interesting at cash registers, half the idiots that are somehow permitted to take my money can barely keep things straight now. Adding variations to coins and bills is only going to complicate things. Oh well, at least things are pretty.....
 

Indolent

Platinum Member
Mar 7, 2003
2,128
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Originally posted by: geno
the $32 MILLION dollar ad campaign for the new $20 bill
:disgust: utterly pointless



Originally posted by: brentman
Things are going to get interesting at cash registers, half the idiots that are somehow permitted to take my money can barely keep things straight now. Adding variations to coins and bills is only going to complicate things. Oh well, at least things are pretty.....

 

Orsorum

Lifer
Dec 26, 2001
27,631
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Originally posted by: redly1
Originally posted by: GreenGhost
We need coins that are worth something, like $1 and $5...

and they should weigh ~2-3Lbs, so you can throw them across the lunchroom and knock someone out

:beer: :D :beer:
 

Shelly21

Diamond Member
May 28, 2002
4,111
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Like someone just said, we mint nickels every year, so why not a new design.

Let's not have another debate on the dollar coin...there's a thread already. :)
 

Indolent

Platinum Member
Mar 7, 2003
2,128
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Originally posted by: thenerdguy
whats wrong with the old nickel? someone counterfiting it?



Nope, the new one is just commerative of Jefferson and the Louisiana Purchase.
 

Brutuskend

Lifer
Apr 2, 2001
26,558
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The back carries an image of clasped hands, signifying friendship. Above the clasped hands is a tomahawk crossed by a peace pipe, signifying peace. The images are similar to those carried on Jefferson Peace Medals, which were presented ceremonially to Indian chiefs and other important leaders

Great, is this first part kissing up to the French? I think the Louisiana Purchase was the LAST time they ever shook our hand.
rolleye.gif


And the peace medal? "Here, take this, it will make up for all the screwing we've been giving you, and all the screwing thats coming a bit later." :disgust:
rolleye.gif