The E-Sylum:  Volume 10, Number 16, April 22, 2007, Article 27

CANADIAN CENTS ARE MADE OF STEEL; SHOULD THE U.S. DO LIKEWISE?

Dick Johnson writes: "One proposed solution to the rising cost of
coinage compositions is for the U.S. Mint to do what Canada has done
- strike the cent in steel. But consider the disadvantages. Steel is
difficult to strike and they remain magnetic forever. Heaven forbid
you dropped one on a computer disc.

"This came to mind reading an article in a newspaper from Whistler
Canada this week. Reporter Paul Ruiterman reveals the Royal Canadian
Mint produces their cents at .7 of a cent each. That was new to me.

"But he also writes of his travails with the lowly cent. He doesn't
pick them up, he feels forcing the cents on the public is an unnecessary
government scam (even at a .3 cent seignorage), and he dumps them in a
donation jar when receiving them in change.

"His unstated solution is to abolish the cent. Yes, other countries
have already done this, he states, and he won't be the last to mention
it.

"But if the U.S. began striking American cents in steel - or any other
substitute composition - it still doesn't alleviate the problem as
Ruiterman indicated in his article:  The cent has outlived its
usefulness and is destined to be eliminated."

To read the complete article, see: Full Story

  Wayne Homren, Editor

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