"Ma Be" <[EMAIL PROTECTED]> wrote:
> Subject: [USMA:11828] New subject for debate
> Date: Sun, 25 Mar 2001 10:13:23 -0800
> From: "Ma Be" <[EMAIL PROTECTED]>
> To: U.S. Metric Association <[EMAIL PROTECTED]>
>
> Dear folks,
>
> I'd like to launch a new subject for debate here, please. It has to do with coins
>(some of us have been debating about new 1.00 US$ coins here for quite some time
>now...).
>
> Why doesn't the US give *serious* consideration to changing its coin system to a
>much more rational one based on prime factors? It can be proven, beyond a shadow of
>a doubt that the following coin denominations:
>
> 1, 2, 5, 10, 20 and 50 cents, instead of the current: 1, 5, 10 and 25.
The USA *has* a 50¢ coin, the only reason why it isn't heavily used now
is because of *major* USMint screwups committed in 1964 and 1965 (I
won't get into the specifics here). By the time the most major 'error'
was corrected in 1971, it was too late and the day-to-day habits
(favoring Quarters) of average Americans were too solidly set. Prior to
the early-mid 1960s, 'Halves' were as commonly used as 'Quarters' in the USA.
I cannot see why the European Central Bank authorized a '2�¢' coin. It
strikes me as being BARELY more usefull than the 1¢ coin is here in the
USA. Had I been the 'Poo-Bah' in charge of coinage in the Euro zone, I
would not have gone any lower than 5�¢.
Note, if your computer's font library hasn't been updated recently, the
'�' is supposed to be the 'Euro' symbol, which is a 'C' with a '=' drawn
through it.
> would be far more efficient (at least over 35% so!). Evidently this statement is
>based on the premise that the range of prices would not be "biased" towards any
>specific value, like xx.99, xx.50, and the likes.
>
> The forum is now open! :-)
> OBS.: Now if we are convinced of that why doesn't anyone here contact US mint to
>suggest they do just that? Imagine the incredible savings such change would
>represent in the US economy! ;-)
Well, the '25¢' denomination in the USA descends from the
pre-Revolutionary Spanish 'Piece-of-Eight', which was easily broken into
halves and quarters (as well as 'eighths') for making change. The
binary fractional stock pricing system that is in its last stages of
being dumped here in the USA came from that, too. Canada uses a '25¢'
coin mainly due to 'copying' from the USA, as they did with their
'Loonie' C$1 coin, which was based on the 1979 USA 'SBA' dollar (but
with the 'mistakes' corrected).
The USA indeed once TRIED to circulate a 20¢ coin. It was introduced in
1875, but failed *MISERABLY* and production for circulation was
discontinued after 1876. Proofs were made until 1878.
That pesky American 'inertia' was well at work back then, too.
> Marcus
>
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r
--
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Regards,
Michael G. Koerner
Appleton, WI
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