Is everyone ready to change your change?

[halfpint]

 

...How about some steel in your pockets...

[bstrauss3]

Like congress - which hasn't done ANYTHING in years - is all of a sudden going to actually act on something because of a special interest?

[Mr. Smith Guesser]

It's probably not worth the hassle. The article states that the U.S. already generates a significant sum of money from seigniorage. How much can the switch possibly increase seigniorage vs. how much will the switch cost?

[wdrob]

 

the third attempt from Rep. Steve Stivers of Ohio

 

They have a lot of steel mills in Ohio don't they?

 

 

[Mr. Smith Guesser]

the third attempt from Rep. Steve Stivers of Ohio

 

They have a lot of steel mills in Ohio don't they?

 

 

That they do. It's not the largest steel producing state in the country. But Ohio accounts for about 15% of the raw output of steel in the U.S.

 

More interestingly, however, Worthington Industries (a steel manufacturing company based in Columbus, Ohio) is one of Mr Stivers top campaign contributors.

 

Source: http://www.opensecrets.org/politicians/contrib.php?cid=N00029574&cycle=2014

[wdrob]

 

More interestingly, however, Worthington Industries (a steel manufacturing company based in Columbus, Ohio) is one of Mr Stivers top campaign contributors.

 

Hahahaha!

 

The more things change, the more they stay the same.

 

The Pittman Act all over again.

 

Never met a politician that couldn't be bought - or at the very least, rented for a while.

 

 

 

[Mr. Smith Guesser]

More interestingly, however, Worthington Industries (a steel manufacturing company based in Columbus, Ohio) is one of Mr Stivers top campaign contributors.

 

Hahahaha!

 

The more things change, the more they stay the same.

 

The Pittman Act all over again.

 

Never met a politician that couldn't be bought - or at the very least, rented for a while.

 

 

 

Just imagine what they got away with before communication became what it is today!

 

It's good to be the king!

[johnny9434]

it makes ya wonder on how long it will take to rust up like the rest of the carp they got out there that turns slimy and green. just saying

[Mr. Smith Guesser]

it makes ya wonder on how long it will take to rust up like the rest of the carp they got out there that turns slimy and green. just saying

If they do for some reason decide to switch to steel and the coins do rust, it won't be long after that someone brings up a lawsuit against the U.S. gov for getting tetanus.

[Conder101]

The bill isn't going anywhere. It has TWO whole co-sponsors.

 

It also has internal flaws. Requires specifications so that basically no more than one trivial change would have to be made to coin accepting machines so they can take both the old and new compositions. Might be able to get around the magnetic problem with the right alloy but solving the problem that coins of the same size would be almost 20% lighter might be a challenge.

 

It also has the problem that it keeps the cent which will still be being produced at a significant loss.

[PerryHall]

Will dealers be calling surface rust "original toning" and charge extra for it?

[cladking]

it makes ya wonder on how long it will take to rust up like the rest of the carp they got out there that turns slimy and green. just saying

 

Since the LME defaulted on nickel back in '08 even stainless would likely rust.

 

Steel coins would be great for me since it would focus a lot of attention on the old cu/ ni clad but it's not right to shange them. Get rid of the penny and dollar bill and costs would drop far more. Switching to steel would raise costs so much in the short term that it might never be recouped.