AN OPEN LETTER TO THE NEW ANA EXECUTIVE DIRECTOR

Jeff Shevlin, Executive Director
American Numismatic Association
818 N. Cascade Avenue
Colorado Springs, CO 80903

Dear Jeff:

There are very strong forces in existence today that if allowed to continue will ultimately abolish the need and use of coins. Namely, the electronic transfer of money. If we are to see the continued use of coins in the future – of viable coin denominations, the continuance of our hobby with new coin issues, and the sheer existence of numismatics! – there are some actions that must be taken fairly quickly to ensure the abolishment of coin issuing will never happen.

Fortunately we have a strong ally, the vending machine industry. While this industry has continued with inadequate coin denominations – and plagued with problems of paper currency in their machines – they are one of the greatest users of coins in our economy. We assume they would want to continue to use coins in preference to any other system of collecting payments for the small transactions generated by their vending machines.

Therefore I propose the ANA, as the largest coin collectors association in the world, joining forces with the largest trade association of the vending machine industry in America for the purpose studying what coins – denominations and specifications – would be the most viable for future use in America. In effect, establish a Committee for Determining America’s Future Coins.

This committee would determine not only what coin denominations are necessary, but also their specifications – composition, diameter, thickness and such. Further, it could make suggestions as to design but the basic factors are the important considerations since designs can change often.

Organizations which have an influence in Future Coins should be represented on this committee:

ANA – two members
Vending Trade Association – two members
U.S. Treasury Department – one member
U.S. Congress – one member
U.S Mint – one member
Futurist Society – one member.

There is one person whose credentials recommend him to be the chairman of this committee. That person is François Velde. He has written a book on the subject of small coins in world coinage systems and is currently Chief Economist, Chicago Federal Reserve Bank.

For ANA to join with a trade association of the vending machine industry to sponsor such a committee would benefit both fields. It would benefit the numismatic field by insuring the continued, well planned, use of coins far into the future. It would benefit the vending machine field by giving them the most useful coin denominations and a time schedule to reconfigure their machines for the most efficient and profitable use in the future.

Heretofore the Treasury has made coin decisions one situation or crisis at a time. This should be replaced by an overall established plan for the most efficient coinage system covering any circumstance in the future. This should eliminate such actions as issuing a dollar coin near the same diameter as a quarter. Or the continued manufacture of cents and nickels costing more to make than their face value.

Can you make an arrangement with the vending machine trade association to form such a committee?

                    Respectfully,

                    D. Wayne Johnson,
                    Corporate Historian, Medallic Art Co.

Wayne Homren, Editor

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