Metal Content for Quarters being considered by Congress at last Wednesday's Hearing

[mjwalsh]

This is for those who want to stay current with how much closer Congress is to finalizing changes the metal content in coins including quarters. Their is no need for my fellow self service operators who are 100% convinced that 100% credit card is the way to go for every last piece of their equipment ... to waste their time looking at it. It could be pertinent & germane for many of the rest of us including the coin acceptor manufacturers. I did watch & listened very carefully. To help facilitate the listening ... the link is located at: http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=383493

Since the Obama Administration discontinued the manufacture of the more logical & practical dollar coins for commerce ... those specific coins were not mentioned.

By going to 1:56 to 2:59 of the top window & then going to the bottom window first 11 minutes it could save those concerned some time.

mike walsh www.kingkoin.com

 

[I.B. Washincars]

I'm not going to watch some mind-numbing video, but I think what you are saying is that the metal content of quarters is going to change. I heard that about a year ago.

 

[Earl Weiss]

Since the Obama Administration discontinued the manufacture of the more logical & practical dollar coins for commerce ... those specific coins were not mentioned.

www.kingkoin.com

Yep, makes more sense to continue to manufacture and stockpile stuff that you have a supply of for the forseeabl futir because of course resuming manufacture is is difficult because.... oh, forgert it.

 

[mjwalsh]

I'm not going to watch some mind-numbing video, but I think what you are saying is that the metal content of quarters is going to change. I heard that about a year ago.

If we do not stay informed enough & the changes are a negative instead of a plus ... then we have nobody to blame but ourselves.

 

[mjwalsh]

Yep, makes more sense to continue to manufacture and stockpile stuff that you have a supply of for the forseeabl futir because of course resuming manufacture is is difficult because.... oh, forgert it.

Your partially right ... both parties are partially to blame for failing to make sure that distribution was done properly. The transparency that most Americans are asking for ... was provided ... to some extent by the online availability of the actual hearing. For the record ... a portion of it had a civil discussion about looking into "for commerce" distribution issues of all coins.

 

[mac]

If the US catches up with the rest of the world, it won't be long before everyone purchases through their smart phone, and does away with both credit cards and coins.

 

[mjwalsh]

If the US catches up with the rest of the world, it won't be long before everyone purchases through their smart phone, and does away with both credit cards and coins.

Mac & others,

As a matter of policy eventually decided in democracies ... are people around the world willing to give up the right & protection to privacy that cash for smaller transactions is stronger at? Also, countries that have kept their coin & currency as efficient as possible have clearly shown that it helps their long term treasury funds even without charging for the coins ... if & only if they choose the most logical & practical seigniorage structure. Sure ... treasury funds are often squandered putting taxpayers &/or future taxpayers (in general) still at risk ... but two wrongs do not make a right.

mike

 

[Greg Pack]

I guess this is an issue for those with single coin acceptors. When it happens it will be a pain in the ass for me for a few hours to reprogram about thirty coin mechs to accept both new and old coins. After that, what's the big deal-what am I overlooking?

 

[MEP001]

I guess this is an issue for those with single coin acceptors. When it happens it will be a pain in the ass for me for a few hours to reprogram about thirty coin mechs to accept both new and old coins. After that, what's the big deal-what am I overlooking?

Look at the closed mind you're discussing it with...

... if & only if they choose the most logical & practical seigniorage structure.

He's already determined that everyone opposed to his view is wrong.

 

[U Wash]

We have to watch and make sure the metal content is unique and we don't end up taking a bunch of foreign coins or tokens. I did find one foreign coin that was passing for a quarter.

 

[cantbreak80]

I guess this is an issue for those with single coin acceptors. When it happens it will be a pain in the ass for me for a few hours to reprogram about thirty coin mechs to accept both new and old coins. After that, what's the big deal-what am I overlooking?

Exactly! Those with last century's acceptors will have to either upgrade or decide which version of the quarter to accept. How many didn't update their bill validators when the $20, $10, and $5 notes were introduced? We deal with it and move on...right?

Surely, the change will be touted by some as a "jobs stimulus" program???

 

[mjwalsh]

We have to watch and make sure the metal content is unique and we don't end up taking a bunch of foreign coins or tokens. I did find one foreign coin that was passing for a quarter.

Joe,

There are also other considerations such as thickness of coins. Just a "heads up" ... people totally enamored by tokens, credit cards, & the latest less proven electronic gizmo payment system ... like I was at one time ... before I became more properly informed ... might welcome the discontinuation & the inability to accept more "user friendly & universally accepted higher denomination coins".

For those who don't mind following some better & more accurate overall leadership ... they can do a quick read of the following:

http://www.planetlaundry.com/forum/showthread.php?t=12224

mike walsh http://kingkoin.com/USA_Deficit_Reduction.html