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#216223 - Thu Mar 04 2004 01:30 PM New Nickels
Linda1 Offline
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Registered: Thu Sep 30 1999
Posts: 11250
Loc: Munchkinland
The US is getting a new look to their nickels. What do you think of this idea?

Quote:

U.S. Mint rolling out nickels with a new look
Associated Press









WASHINGTON - New nickels honoring the 1803 Louisiana Purchase will soon be clinking in cash registers and jangling in pockets. It's the first makeover for the five-cent piece in 66 years.









The back of the new coins look different, while the front looks the same, retaining the image of Thomas Jefferson, third president of the United States.









Millions of the new nickels have been shipped to the Federal Reserve, supplier of the nation's cash. They should start showing up in change in several weeks, say officials of the U.S. Mint.









"This marks the first time in more than half a century that Americans will see a new design on their nickels," said Mint Director Henrietta Holsman Fore, who showed off the new coins today.









On the back of the new nickels, Jefferson's home, Monticello, is replaced with a scene that commemorates the Louisiana Purchase.









The back of the new nickels now headed into circulation bear the words "United States of America," "Louisiana Purchase" and "1803." There is an image of hands clasped in friendship -- one with a military cuff to symbolize the U.S. government, and the other with an ornate bracelet to represent American Indians.









Above the clasped hands is a tomahawk crossed by a peace pipe. The images are similar to those on Jefferson Peace Medals, which were presented ceremonially to Indian chiefs and other important leaders. Below the clasped hands are the Latin words "E Pluribus Unum" (meaning "Out of many, one"), and hugging the bottom of the coin is the denomination: "Five Cents."









Approximately 900 million of these new nickels have been made.









Another nickel honoring the 1804-1806 Lewis and Clark expedition will be released in the late summer or early fall, Mint officials say.









"Americans will remember the important national events of the Louisiana Purchase and the Lewis and Clark expedition for decades to come when they look at these nickels," Fore said.









The new nickels are part of the Mint's new Westward Journey Nickel Series. The design of the old nickels with Jefferson on the front and Monticello on the back was introduced in 1938.









Vending machines will be able to accept the new nickels because their composition -- 75 percent copper and 25 percent nickel -- and their size remains the same, Mint officials say.


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#216224 - Thu Mar 04 2004 10:08 PM Re: New Nickels
lothruin Offline
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Registered: Wed Nov 12 2003
Posts: 2165
Loc: Nebraska USA
As interesting as these new coins are, I shudder to think of the expense the US Mints are incurring to produce multiple types of each denomination, especially when I imagine a fair percentage of these coins end up in those cardboard maps on shelves, one for every grandchild. (How much money did the federal government spend to put quarters on shelves? And now they want to do it with nickels too?) I've enjoyed seeing the new quarters as they come out, though, and I suppose I'll probably be interested in seeing the new nickels, but after that first glance, they're just nickels again. They spend the same either way. Plus, I highly doubt anyone will be forgetting the Louisiana purchase any time soon, unless they plan on simultaneously slackening up on public school history curriculum in conjunction with the release of the coins.
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#216225 - Thu Mar 04 2004 10:28 PM Re: New Nickels
Copago Offline
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Registered: Tue May 15 2001
Posts: 14384
Loc: Australia
It seems like every year that our $1 and 50c (and occasionally the 20c) coins get new designs on them - the Centenary of Federation, the Year of the Outback, year of Older Persons - I've never considered the cost of it. The Queen is always on the head but she gets updated now and then.

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#216226 - Sat Jun 12 2004 09:26 PM Re: New Nickels
robmeister Offline
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Registered: Thu Jan 31 2002
Posts: 1413
Loc: California USA
It's been three months, and I haven't seen one of these yet? Interesting, though...


For those of you unfamiliar with American History, Thomas Jefferson was President at the time of the Louisiana Purchase.
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#216227 - Sun Jun 13 2004 03:43 AM Re: New Nickels
sue943 Offline

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Registered: Sun Dec 19 1999
Posts: 36535
Loc: Jersey Channel Islands        
The original document was brought here last month by Barings Bank, I didn't see it.
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#216228 - Sun Jun 13 2004 05:24 PM Re: New Nickels
Linda1 Offline
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Registered: Thu Sep 30 1999
Posts: 11250
Loc: Munchkinland
The other day, I was paying for something and put a nickel on the counter. It was a new one. I immediately grabbed it up and said, "What a weird nickel. Have they changed them?" The clerk didn't know. So, I asked the man standing behind me. He didn't know, either. I went ahead and paid, but then I began to wonder if I'd given away some kind of valuable coin, because it looked like nothing I'd ever seen on a nickel before.

How interesting to come back in here and find that it was ME that originated a thread about this very thing not that long ago! I feel like a fool now!

Am glad I didn't give away something really valuable after all, though. That does reassure me.

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#216229 - Thu Jun 17 2004 06:23 PM Re: New Nickels
satguru Offline
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Registered: Thu Feb 17 2000
Posts: 6940
Loc: Kingsbury London UK           
Since we went decimal in 1971 we've had more and more 'special editions', mainly with the 50p and pound coins, which change annually in the case of the pounds, and apparently at little hardship to the Royal Mint.

I'd much rather have our coins change every 65 years, I loved the 'real money', as those of us old enough to remember it call it, and still convert some things into shillings from new pence to see what they really cost- 16 shillings and 9 pence for about 2 pints of petrol. Now that really sounds like a lot, and that's exactly what we're getting. When we went decimal it was about six shillings and six pence for a gallon, that's 8 pints.
Inflation may well be so low in the States as they have never messed around with the currency and everyone can compare prices back for generations. Up till recently we still had coins in circulation up to about 80 years old as many coins were identical values when we went decimal, but had a new number (eg 2 shillings/10 new pence). The pre-1947 ones were all picked out as they were silver and sold for about 8 times their face value to dealers. They only finished when all our coins were shrunk to toy money a few years ago and the old sizes ceased to be legal tender. Now our oldest coins are the coppers, which started in 1971. To think every so often we'd find a penny in our change from 1826 and the like, which were barely legible and prized as collector's items by the person who noticed them. That won't happen again for over 100 years assuming (which I don't) we're still using the same coins then. I doubt coins will exist at all in 100 years as plastic is slowly taking over. People in the future will have to explain to their children what coins were!
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#216230 - Fri Jun 18 2004 03:45 PM Re: New Nickels
lothruin Offline
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Registered: Wed Nov 12 2003
Posts: 2165
Loc: Nebraska USA
One thing I will say for our rearranging of designs is that it's all still the same money. A penny from 1891 is the same size, shape and face value as the one from 2004. It's got a different design on it, and the penny spent in 1891 would have bought a lot more, but if I needed to pay $2.01 and used that old penny, it'd be completely legal, if a bit stupid on my part.

I'm just not sure I understand the premise behind changing the money, really. I guess stuff changes, you know, but if you aren't changing the value of the money and you aren't changing the security of the money (this isn't limited to coins, really, as the new anti-counterfeit measures in the US paper money have proven to be not so anti-counterfeit, and if it isn't an improvement, well..) there isn't much point in changing the money. New dies cost, after all, and not a small amount. In the current budget crisis in the US, when important programs are being cut left and right, surely one thing that could go on the chopping block would be the planned new coins.
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Goodbye Ruth & Betty, my beautiful grandmothers.
Betty Kuzara 1921 - April 5, 2008
Ruth Kellison 1925 - Dec 27, 2007

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#216231 - Fri Jun 18 2004 04:48 PM Re: New Nickels
satguru Offline
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Registered: Thu Feb 17 2000
Posts: 6940
Loc: Kingsbury London UK           
Quote:

A penny from 1891 is the same size, shape and face value as the one from 2004. It's got a different design on it, and the penny spent in 1891 would have bought a lot more, but if I needed to pay $2.01 and used that old penny, it'd be completely legal, if a bit stupid on my part.





That's exactly how it used to be here until 1971. You are lucky to have such stability there (and one of the world's best economies). I collected coins till then, and then shifted to train tickets, mainly the small ones. They dried up in 1988. I agree. Does everything here have to change just for the sake of it?
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UN IPCC

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#216232 - Sat Jun 19 2004 10:10 AM Re: New Nickels
ladymacb29 Offline
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Registered: Wed Mar 15 2000
Posts: 15679
Loc: The Delta Quadrant
You're forgetting that one of the reasons they change money periodically (or more often) is to try and make it less-counterfeitable (I made up a new word!).
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#216233 - Mon Jun 21 2004 02:34 PM Re: New Nickels
lothruin Offline
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Registered: Wed Nov 12 2003
Posts: 2165
Loc: Nebraska USA
I didn't forget. I even mentioned it. "If you aren't changing the value of the money or the security of the money..." If you are upgrading the anti-counterfeit aspects of a given piece of money, that's fine. (Not always effective and therefore also a waste of money, though it'd be hard to know that for sure until the changes were made.) It's more an issue for paper money, though. This recent bout of new coins wasn't an anti-counterfeit measure.
_________________________
Goodbye Ruth & Betty, my beautiful grandmothers.
Betty Kuzara 1921 - April 5, 2008
Ruth Kellison 1925 - Dec 27, 2007

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