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Will the debate about the future of the cent ever reach a conclusion to abolish it?
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Author Archives: David L. Ganz
William Gray, the 65-year-old police officer with the U.S. Mint in Philadelphia who was arrested Sept. 9, 2011, and charged with the theft of more than $2 million worth of numismatic dollar coin errors, has been sentenced to three years in jail and three years of subsequent supervision. Continue reading
Former members of the U.S. Assay Commission, which met every year from 1792 until 1977, except for 1815 when the Mint burned, are slated to meet at Philadelphia Aug. 8 to coincide with the anniversary convention of the American Numismatic Association. Continue reading
Coin collecting began for me in 1960 when I started looking at my pocket change and found, to my surprise, that one of the coins – a cent with a gentle Indian portrait – was different from the run-of-the-mill coins bearing Abraham Lincoln’s portrait. Continue reading
Samuel Clemens once remarked that rumors of his death were premature. For the past half dozen years, it seemed that rumors of a move in Congress to commemorate him shared that fate. Continue reading
Rep. Ron Paul, R-Texas, is running for President of the United States and also chairs the House subcommittee that oversees coinage. So on April 17, a hearing on “The Future of Money: Coin Production” was called and held before his House Financial Services Subcommittee on Domestic Monetary Policy & Technology. Continue reading
Canada’s decision to eliminate its small cent 92 years after it gave up its large cent probably means that there will be increased pressure on the U.S. Treasury and perhaps Congress, to take a fresh look at the elimination of a denomination whose history goes back to Thomas Jefferson’s “Notes on Coinage” (1786) and Hamilton’s “Report on the Establishment of a Mint” (1791). Continue reading
For a variety of reasons, it’s time to change the way that gold commemorative coins are made, time to make them affordable to a new generation of collectors, time to give them attractive themes, and time to be daring and think outside the box to eliminate the problem of fewer and fewer coins being sold. Continue reading
With the new GAO report to Congress suggesting that a dollar coin for dollar bill switch is uneconomical based on the statistical input of factors that include the duration in circulation of dollar bills and coins, there might be some question as to the validity of the quantified numbers showing circulation life and use. Continue reading
For the fifth time in 22 years, the Government Accountability Office has weighed in on whether the dollar bill should replace the $1 coin. In this version, there is a bombshell statement that the government would lose money in the first six years if it began to replace $1 notes with $1 coins. Continue reading
Is public support for the cent waning? CNN, the TV network and internet news gatherer, put a poll out over Presidents’ Day weekend asking if the cent should be eliminated. While not scientific, with over 140,000 responses, the results were that about 60 percent favor the coin’s demise. Continue reading