The E-Sylum:  Volume 9, Number 16, April 16, 2006, Article 22

DICK JOHNSON ON FUTURE COINS

Dick Johnson writes: "I have praised the United States Treasury
officials in previous writings for choosing the copper clad zinc
composition for the U.S. cent and converting to this coinage alloy
in 1982.

World market prices of metal are rising. Should they rise even more
– an even-money possibility – it would make U.S. cents in circulation
vulnerable to hoarding at first, scrapping in the long run.

Treasury officials will be faced with an immediate dilemma – what
composition for cents being struck? What to do with all the cents
in circulation? It could be the great silver meltdown of the 1960s
on a smaller scale, deju vu all over again.

The brilliance of the copper clad zinc is that melting these coins,
the metal could be easily reformulated into – brass! (Pick a formula,
add a little virgin copper, you could have a highly successful brass
coinage alloy!)

The Treasury has two options. One. Use this brass to strike a new
cent coin; unfortunately it will have to be a smaller diameter or we
might face this monster recoinage problem again, shortly.

Two. Abolish the cent. Hold on, collectors, all is not lost in
removing this coin from circulation.

I have written a 41-page plan titled "Future Coins" which addresses
this problem. My advice -- don't attack this cent problem alone.
Restructure the entire U.S. coinage schedule with advance planning
(a 50-year plan!) and enlightened understanding in a Master Plan For
All U.S. Coins. Plan for the long run. Eliminate politics. Use common
sense. Plan ahead. More later."

  Wayne Homren, Editor

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