The E-Sylum:  Volume 8, Number 53, December 18, 2005, Article 26

ON THE EXTINCTION OF COINAGE

Mark Tomasko writes: "I enjoy reading The E-Sylum.
Interesting stories on the Swiss and Nigerian paper money.
Thanks for your efforts.

I was surprised at Pat MacAuley's comments. I do not
see coinage threatened with extinction in daily commerce.
While you rarely see a half dollar today, you rarely saw
them in the past either. That coin hasn't circulated to
any great extent for the last half century. And I don't
agree that the "dollar coin is a potential winner." The
Sacajawea dollar is a coin in search of a purpose, as
I believe it was produced primarily due to the copper
producers' lobbying efforts, and those of the vending
machine industry too. I believe that public opinion polls
have shown that the American public greatly prefers the
convenience of paper dollar bills. And the purported
savings by forcing us all to have a pocket full of heavy
change (such as was foisted upon the the Canadians and
Europeans) is probably a small fraction of the cost of
one jet fighter plane. Fortunately, in the U.S. public
opinion does count.  In terms of numismatics, the state
quarter program and the changes in the nickels have been
the most interesting things to happen to coinage in my
lifetime. For the last 40 to 50 years the circulating
coinage has effectively been the penny through the quarter.
It was then and it is now. While use of the penny may
diminish (I don't see that happening at the current time),
I suspect the nickel, dime, and quarter will be around
for a very long time."

  Wayne Homren, Editor

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