MORE NEW COIN DESIGN IDEAS

Here is an idea to issue three new coins to save the cent, defray the cost of printing the paper dollar bill and to raise money for the rising costs of copper and nickel in our five cent coin.

With the introduction of a two cent piece, we could cut one cent coin production in half-by making (50) one cent coins and (25) two cent coins for a total of seventy-five coins instead of one hundred. We have already saved twenty-five coin blanks.

And if the two cent piece is 16.5 mm it will cost less to make than the current one cent coin.

We always hear from those in congress, who want to abolish the dollar bill, that it only lasts for a couple of years. Not so according to the Federal Reserve site. The note lasts for 6.6 years, and at the cost of 6.2 cents.

I think for all of the use the one dollar bill gets that at 6.2 cents to produce that is a worthy investment.

However, if we were to issue two opposite colored ringed bi-metallic coins, in a two and five dollar denomination, and put them in coin sets at face value plus mint costs, for every one million coin sets sold we could raise an additional seven million dollars to help defray the cost of the dollar bill, help pay for rising costs of both copper and nickel, and even have money left over to help the one cent coin in addition to the two cent piece. Note-the two and five dollar coins are not to replace their paper counterparts.

 

They are to be issued in circulation and can be spent. They are not glorified coins under the banner of non-circulating overpriced commemoratives. For the two cent piece a design of the Statue of Liberty based on Elizabeth Jones 1986 $5 gold coin design. The reverse is based on the ‘Wheat Cent' concept by Victor D. Brenner.

 

The two-dollar coin, with a nickel ring and copper center, is based on the Patricia L. Verani 1989 half dollar Statue of Freedom design. The reverse is based on the two baby eagles from the 2008 half dollar designed by Susan Gamble.

 

The five-dollar coin, with a copper ring and nickel center, is of Uncle Sam and our Great Seal.

Sizes and different type security edges for identification to be determined.

References:
How long is the lifespan of U.S. paper money? (https://www.federalreserve.gov/faqs/how-long-is-the-life-span-of-us-paper-money.htm)
How much does it cost to produce currency and coin? (https://www.federalreserve.gov/faqs/currency_12771.htm)

To read the earlier E-Sylum articles, see:
PROPOSAL: CADUCEUS COIN DESIGN (https://www.coinbooks.org/v24/esylum_v24n36a09.html)
2022 AMERICAN WOMEN QUARTERS DESIGNS (https://www.coinbooks.org/v24/esylum_v24n41a22.html)

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