The E-Sylum:  Volume 10, Number 27, July 8, 2007, Article 23

ON ELIMINATING THE CENT

Tim Shuck writes: "Dick Johnson's comments on why we no longer need
the cent are persuasive, and I agree that 'deficit' minting of coins
needs to end.  However, if rounding to ten cents is implemented he
might want to reconsider removing cents and nickels from circulation,
either physically or by revaluation.

[Revaluation has been one of the options proposed. -Editor]

"Under such a scenario, if I use quarters to pay for a purchase
ending in 20 cents (using one quarter), 60 or 70 cents (using three
quarters), how would I get the five cents in change back? Forced use
of dimes would be an inconvenience that, along with political (and
practical) issues related to revaluation, will make elimination of
the nickel a non-starter in my opinion. And we might need those cents
as well to make up five cents in change.

"I could suggest, tongue halfway in cheek, that if cents and nickels
go, the quarter also needs to be replaced with a new 20 cent piece;
history in the making and a host of new collecting possibilities. If
that happened all circulating coins would then be an even multiple of
the lowest denomination coin, which is needed to avoid the five-cents-
in–change problem. This seems too obvious; am I missing something
here?"

  Wayne Homren, Editor

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