OUT OF MIND
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Czech Prime Minister Ends Vaccine Mandates: ‘We Do Not Want to Deepen the Rifts in Society’
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyToday at 2:49 pm by PurpleSkyz

» Former White House Physician Demands Biden Take Cognitive Test After Weird Presser Breakdown
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyToday at 1:26 pm by PurpleSkyz

» Ghislaine Maxwell files for a RETRIAL
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyToday at 1:21 pm by PurpleSkyz

» Curiosity rover finds possible evidence of life on Mars
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyToday at 1:13 pm by PurpleSkyz

»  US Airlines: ‘Dangerous 5G Rollout Will Grind Commerce to a Halt’
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyToday at 12:26 pm by PurpleSkyz

» Parents Outraged Over Photo of Teacher Taping Mask to Child’s Face
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyToday at 12:20 pm by PurpleSkyz

» Pandemic Narrative Undergoes Radical U-Turn
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyToday at 12:12 pm by PurpleSkyz

» NHS Doctor Tells Patient NOT to Take Covid Vaccine Because They Will Be PULLED Soon
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyToday at 11:57 am by PurpleSkyz

» Maine Doctor Loses License, Ordered to Undergo Psych Evaluation for Treating Covid Patients with Ivermectin, ‘Spreading Covid Misinformation’
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyToday at 11:48 am by PurpleSkyz

» The doctor who quit her job after being suspended for promoting ivermectin, criticizing mandates sues Houston Methodist
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyToday at 11:42 am by PurpleSkyz

» EUDRA Stats thru January 15th, 2022
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyToday at 11:37 am by PurpleSkyz

» The Political Timing of the End of the Pandemic
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyYesterday at 7:54 pm by PurpleSkyz

» Australia throws Novak Djokovic out of the country, declares no unvaccinated athlete is welcome
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyYesterday at 7:50 pm by PurpleSkyz

» False Flags Suddenly No Longer A Crazy Conspiracy Theory
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyYesterday at 7:45 pm by PurpleSkyz

» Five nurses speak out about what is really going on in hospitals
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyYesterday at 1:51 pm by vhud

» Boris Johnson: "The government will no longer mandate the wearing of face masks"
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyYesterday at 11:35 am by PurpleSkyz

» Updated Info: Olympic Sprinter Announces Pericarditis Diagnosis on Facebook Following Pfizer Booster Jab
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyYesterday at 11:10 am by PurpleSkyz

» Dr. Reiner Fuellmich: Latest Bombshell About COVID “Vaccines” W
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyYesterday at 11:08 am by PurpleSkyz

» Astronomers Analyze Impact of SpaceX’s Starlink Satellites
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyYesterday at 11:01 am by PurpleSkyz

» Canadian Business Owners Fight Back Against New Lockdowns
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyYesterday at 10:57 am by PurpleSkyz

» Good People Doing Good Things — Little Things Mean A Lot
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyYesterday at 10:44 am by PurpleSkyz

» VAXXED Blood - The Issue of Transfusions
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters EmptyYesterday at 10:30 am by PurpleSkyz

You are not connected. Please login or register

OUT OF MIND » THE INSANITY OF REALITY » GLOBAL FINANCIAL COLLAPSE » SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters

SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters

2 posters

Go down  Message [Page 1 of 1]

PurpleSkyz

PurpleSkyz
Admin

Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters

February 9, 2015 By Michael Zielinski 26 Comments

A bill has been introduced in the House of Representatives which seeks to quickly and dramatically alter the composition for all current circulating United States coins. Specifically, the bill would require the one-cent, five-cent, dime, and quarter dollar coins to be produced primarily of steel, with the change implemented 90 days after the enactment of the Act.
The bill H.R. 516 or the “Cents and Sensibility Act” was introduced on January 22, 2015 and represents the third attempt from Rep. Steve Stivers of Ohio to alter the compositions of circulating coins. In 2011, he introduced two separate bills which separately sought to immediately alter the composition of cents and nickels to steel. In 2013, a bill was introduced seeking to alter the compositions of cents, nickels, dimes, and quarters to primarily steel. The current bill contains much the same provisions as the one introduced in 2013.
SAVE YOUR COINS PEOPLE ~ Reintroduced Bill Seeks Steel Cents, Nickels, Dimes, and Quarters Coins
The bill calls for the four denominations to be produced primarily of steel and meet such other specifications as the Secretary of the Treasury may determine appropriate. The coins are to be treated in such a manner that they are similar in appearance to the coins produced prior to the date of enactment. Lastly, there is a requirement to use only steel produced in the United States unless the Secretary finds this requirement to be inconsistent with the public interest or an adequate supply of United States steel is not available.
There are additional requirements for the conversion to new coin specifications. These include the stipulations that such specifications would not require more than one change to coin-accepting and coin-handling equipment, facilitate or allow the use of coins or tokens of lesser value in place of circulating coins, or require non-trivial changes to coin-accepting or coin-handling equipment to accommodate co-circultion of coins carrying the new and old specifications.
Finally, there is an allowance for the Secretary of the Treasury to produce numismatic versions of the cent, nickel, dime, and quarter in compositions in place before the act.
The issue of circulating coin composition had gained significant attention when declining production volumes and increasing base metal costs drove the United States Mint costs to produce the cent and nickel to more than double their respective face values. For the 2011 fiscal year, the cost to produce and distribute the two lowest denominations rose to a peak of 2.41 cents per cent and 11.18 cents per nickel.
Since this time, rising production volumes and lower base metal prices have served to reduce the costs of producing these denominations, although both still remain well above their respective face values. For the 2013 fiscal year, the cost to produce and distribute the cent was 1.66 cents and the cost for the nickel was 8.09 cents.
Despite the losses generated by the two lowest denominations, across all circulating denominations, the Untied States Mint has consistently generated positive seigniorage. For the 2013 fiscal year, seigniorage generated from circulating coinage was $289.1 million.
Amidst the legislative attempts to immediately alter the composition of circulating coins, the United States Mint has been conducting research and development activities with regards to circulating coin composition under the Coin Modernization, Oversight, and Continuity Act of 2010. The most recent biennial reported delivered in December 2014 outlined the potentially significant private sector costs of a dramatic change in coin composition and indicated planned additional research into seamless materials which would have the same electromagnetic signature as current coinage.
The current bill H.R. 516 has two cosponsors and has been referred to the House Financial Services committee.

Thanks to: http://news.coinupdate.com



  

Neighbor Dave



Why not change them back to silver, gold and copper which have greater value than a promise.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum