Coins | featured news

Rare nickel coin auctioned for $3m

A century-old US five-cent coin - illegally cast, found in a car crash, deemed a fake and abandoned for decades - is sold for $3.1m at auction.

 

Canada stops distributing pennies

Canada

The Canadian penny is withdrawn from circulation as production costs exceed its monetary value.

 

Treasury: We won't mint a platinum coin to sidestep the debt ceiling

coins

The Treasury Department will not mint a trillion-dollar platinum coin to get around the debt ceiling. If they did, the Federal Reserve would not accept it. That's the bottom line of the statement that Anthony Coley, a spokesman for the Treasury Department, gave me today. "Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit," he said.

 

Congress looks at doing away with the $1 bill

Dollar Coins

American consumers have shown about as much appetite for the $1 coin as kids do their spinach. They may not know what's best for them either. Congressional auditors say doing away with dollar bills entirely and replacing them with dollar coins could save taxpayers some $4.4 billion over the next 30 years.

 

Man allegedly steals $100K coin collection, then spends at face value on pizza and a movie

Coins

A young couple in Washington state may be guilty of committing an expensive crime for pennies on the dollar. Dakoda Garren, 19, has been charged with stealing a rare coin collection worth $100,000 and spending the coins at face value on a movie and pizza with his girlfriend.

 

Replacing $1 bill with coin could save $5.6 billion

Replacing $1 bill with coin could save $5.6 billion

A proposal to phase out the $1 bill and replace it with a $1 coin could be gaining currency as the "supercommittee" looks to find ways to save the government money... The move to a coin would cost money in the short term, but eventually save money because paper currency lasts about 42 months — while coins theoretically last forever. Moving to a coin could save $5.6 billion over 30 years, according to the Government Accountability Office.

Senh: It's over 30 years, though - so, very roughly $200M/year if we round it up to $6B in savings. That's not bad. It just means more coins in my pocket now. I didn't know paper money only lasts about 3.5 years. What do people do with worn out money? Do they just go to the bank and exchange it for new ones?

 

Bucks: Banks Where You Can Count Your Change

Some banks, like TD Bank, still offer machines that count customers' change.

 

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