(ii)
- 6-
woighing. Othor possible discdventages are the cost of modifying vending machines to operate with the new coins as
well as the old, and the risk that the machines might be more vulnerable to counterfeits (see pera. 24 below).
As (i) but substituting brass-clad steel for nickel-bruss
for the 5 end 10 cents, and cupro-nickel-clad steel for
cupro-nickel for the 50 cents. The savings per million new
coins supplied would then become:
5 cents £
1350
10 cents
£
2100
-
50 cents
£
3700
The other advantages would be similar to those described
in (i).
The major disadvantage might be considered to be the reduction.
in the quality of the coinage and in particular the tendency
for the coins to discolour at the edges, if not corrode. Other
disadvantages would be largely the same as those above, though
vending machines which incorporated checks for magnetism would be more seriously affected.
(iii) To reduce both the weights and the diameters of the existing
coins according to the principles described in Part I. The
advantages would be increased scope for acceptable coins of
20 cents and $5, and scope even for a still higher denomination.
Depending on the precise choice of sizes and alloys, the savings
per million of new coins supplied would be at least as high as in (i) and could be considerably higher.
The main disadvantage would be the large investment involved in
replacing the existing coinage, which could be more than
equivalent to the expected savings on new issues. The general
disturbance and the need to modify all vending and sorting
machines would be other drawbacks.
If the comparatively small numbers of 5 cent coins minted in
recent years imply that this denomination is falling into disuse,
it might well be sensible to postpone any major recoinage until
it can be demonetised.
Possible Specifications for a $5 Coin
21.
If solutions on the lines of (i) and (ii) above were adopted, the choice of
specification for a $5 coin would as already indicated be restricted to a round piece