Showing 4 ideas for tag "penny cent coin mint"

Department of Transportation

Pennies don't make as much "cents" as a two cent coin

Instead of minting as many new pennies, begin a gradual phase out of the penny as it costs more to mint than the coin is actually "worth". Take a clue from the UK and consider minting two cent pieces. This could reduce the cost per coin to mint, perhaps even to or below break even point. To make change of a dime, a two cent piece can be used to make change in even increments ($.02, $.04, $.06, $.08) as well as with... more »

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Department of the Treasury

Remove coins and save production costs

Stop making nickels and pennies. The production costs of these two coins far outwiegh their usefullness.

There is also a large percentage of these fixed costs that goes to raw materials.

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Department of Homeland Security

Stop Minting Penny and Nickel

Call it the Small Change Act, the most a person would ever have to contribute on a single transaction would be 9 cents.

I once read that the cost of making the penny and nickel, both outweigh the actual value of the coin.

My proposal is similar to what some banks are starting to offer, in a keep the change program.

On all *CASH* purchases, the total price, after sales tax, would be rounded up to the nearest amount,... more »

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Department of the Treasury

Eliminate Coins

The cost of minting exceeds the value of the penny and the nickel. Cash sales will have to be rounded to the nearest decimal, either zero or 10, but credit and debit cards can still be billed the exact amount. The U.S. military has adopted this system and eliminated use of the penny overseas.

Likewise, "commerative" quarters, which are taken out of circulation by collectors are also a net drain on the Treasury, and... more »

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