U.S. Representative's legislation would cut costs of coining nickels -- Half-dime
Arizona Coin Collector
I did a seach from the Library Of Congress on the
bill from Congressman Frank Lucas. It was not listed as of
today (09/19/2008). You can learn more about Frank Lucas from
the link below.
http://en.wikipedia.org/wiki/Frank_Lucas_(politician)
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Fri September 19, 2008
U.S. Representative's legislation would cut costs of coining nickels
By Chris Casteel
Washington Bureau
WASHINGTON - Rep. Frank Lucas says the U.S. Mint could save
millions of dollars a year if it just shrank the nickel.
Lucas, R-Cheyenne, has proposed legislation that would replace
the nickel with a half-dime, a coin that would be slightly
smaller and half the weight of the current dime. Since less
metal would be required to make it, taxpayers would no longer
have to pay more than nine cents to produce a coin that's
only worth five cents.
"At a cost of 9.5 cents to produce and ship, there is a $58.5
million loss passed on to taxpayers each year," Lucas said.
"This is one more example of irresponsible spending by the
federal government and one more reason why our national
deficit has risen to over $9 trillion."
Lucas may have more ideas in store
Lucas, a member of the House Financial Services Committee,
will introduce a bill to replace the nickel; but, given that
Congress has very few days left to work this year, he
acknowledged the issue won't get much attention until next
year.
According to Lucas' office, the half-dime was in use from
1792 until 1873, when lobbyists for the industry that
produces nickel persuaded Congress to make the nickel-based
coin. The rising cost of the metal has made the coin
impractical, Lucas said.
Lucas has not yet proposed eliminating the penny, which
some also see as wasteful.
Lucas' press aide, Leslie Shedd, said Lucas thinks there
are other issues that he could discuss in the future to
make the nation's currency more cost-effective.
"However, at this time, his first priority is to restore
the half-dime," Shedd said.
..
PC
"Arizona Coin Collector" <nos...@nospam.com> wrote in message
news:RtKdnWFTjuecZ07V...@earthlink.com...
> Hello
>
> I did a seach from the Library Of Congress on the
> bill from Congressman Frank Lucas. It was not listed as of
> today (09/19/2008). You can learn more about Frank Lucas from
> the link below.
> http://en.wikipedia.org/wiki/Frank_Lucas_(politician)
>
As opposed to the Frank Lucas (druglord) entry ;-)
Voltronicus
wrote:
> "At a cost of 9.5 cents to produce and ship, there is a $58.5
> million loss passed on to taxpayers each year," Lucas said.
> "This is one more example of irresponsible spending by the
> federal government and one more reason why our national
> deficit has risen to over $9 trillion."
What a dipshit!
$50 or 60 million is just a drop in the bucket.
How about the trillions we spend on the war and foreign aid?
Why exactly are we giving money to other countries when we are in
debt?
Riddle me that, Mr. Head-up-his-ass Congressman!
John Mazor
"Arizona Coin Collector" <nos...@nospam.com> wrote in message
news:RtKdnWFTjuecZ07V...@earthlink.com...
...
> Lucas, R-Cheyenne, has proposed legislation that would replace
> the nickel with a half-dime, a coin that would be slightly
> smaller and half the weight of the current dime. Since less
> metal would be required to make it, taxpayers would no longer
> have to pay more than nine cents to produce a coin that's
> only worth five cents.
Great, just what we need, a coin smaller and lighter than the dime,
which already is about at the lower limits of what I can conveniently
handle in terms of manual dexterity and it getting lost in a handful
of change. It may not even be easily distinguishable at first glance
from a dime.
And unless nickels are immediately recalled and replaced as with gold
in 1933, then for years if not decades we'll have two totally
different versions of a 5-cent piece circulating. We haven't done
that in nearly a century except for the Ike - which hardly circulates
at all, let alone in comparison to the nickel.
MJKolodziej
"Arizona Coin Collector" <nos...@nospam.com> wrote in message
news:RtKdnWFTjuecZ07V...@earthlink.com...
Yeah, coins are the reason. That comment taints his whole effort. I'm
wondering if he supports war and bailing out capitalist institutions?
mk
Jerry Dennis
wrote:
> Hello
>
> I did a seach from the Library Of Congress on the
> bill from Congressman Frank Lucas. It was not listed as of
> today (09/19/2008). You can learn more about Frank Lucas from
> the link below.http://en.wikipedia.org/wiki/Frank_Lucas_(politician)
>
> <><><><><><><><><><><><><>
>
Interesting comments from everyone, and all are viable. Rather than
screw with the nickel, let's drop the cent and the FBI-RD first.
That'll save billions over time.
Jerry
Whatever happened to "government of the people, by the people, and for
the people"? Oh, yeah. It died in 1865 with Abraham Lincoln.
Michael G. Koerner
A Half Dime should be a part of the overall mix of cost-savings and
streamlinings for our money. As you are likely aware, I have been advocating
that in this forvm for several years now, too.
It may be just a drop in the federal budget bucket, but its contents are made
up of MANY similar drops (and dumping the $1 note for the current $1 coin
would be about a $1G/year part, too - not chump change!).
I say 'Go for it!'.
:-)
--
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Regards, | |\ ____
| | | | |\
Michael G. Koerner May they | | | | | | rise again!
Appleton, Wisconsin USA | | | | | |
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