Design some new currency

[JAG2955]

I think this will be fun.

Congress has just appointed you as benevolent dictator of the US Mint. Your first job is to redesign the penny, nickel, dime, quarter, half dollar, and dollar coin (if you choose). You can change the type of metal, shape, size, and design. Thanks to advancements in the minting process, costs have dropped to a negligible level (i.e., the mint doesn't lose money making pennies anymore.) Also, let's pretend that the monetary value of a dollar is back to 1982 levels, so gas prices are approximately $1.00/gal in this world, and cash is king. If anyone suggests that schoolchildren select a design, or you'll put it up to a popular vote, I will find the most disgusting picture of Rosie O'Donnell on the internet and email it to you. That's how we get dumb crap like a Formula 1 car or a wheel of cheese on quarters. I know that I have expressed my disgust with the Shield Cents on this forum a few times.

I'm thinking:

Penny-A 0.5" circle, made of bronze, Benjamin Franklin on the observe and Independence Hall on the reverse.
Nickel-A 0.65" octagon, made of nickel (what else), sticking with Thomas Jefferson on the observe and the American Bison on the reverse.
Dime-A 0.75" circle, made of 90% silver. Samuel Adams and John Adams on the observe, and the Lexington Minuteman on the reverse.
Quarter-A 0.85" dodecagon, made of 90% silver. This one will be twice as thick as the dime. Observe will be a scene of the signing of the Constitution (think $2 bill), and the reverse will simply be a large "We the People", same font as the original Constitution. Around the edges, Domari Nolo (Latin, I refuse to be subjugated.) will be written, taking up two sides, with a space in between, so you get 4 total statements around the sides.
Half Dollar-A 1" circle, made of a gold alloy. George Washington on the observe, Gadsden flag on the reverse.

Liberty, In God We Trust, and date stamp on each one.

I like coins because they last damn near forever, and they should be a symbol of America/American ideals. At one point in time, Americans were proud of their coins. They we got stupid and began minting the ugliest coins known to man. So enjoy, and come up with some good designs.

[Aglifter]

Well, an important aspect of coins is how well they can be counted, and counterfeit detected.

Furthermore, you don't want too great a disparity between face value and metal value, to, again, hinder counterfeiting.

However, it certainly does have an improved durability.

I would certainly add dollar coins - dollar bills are just irritating.

Perhaps, if the tech exists, some manner of hologram or RFID chip which would aid in verifying the validity of the coin, and in counting.

I'd also add either some kind of microban coating, or some other surface material, which is toxic to pathogens.

[HTRN]

90% Silver? With Silver at around 30 bucks per troy ounce? Nobody is crazy enough to mint coins with materials worth dollars, with face value worth fractions thereof.

[Steamforger]

Well, an important aspect of coins is how well they can be counted, and counterfeit detected.

Furthermore, you don't want too great a disparity between face value and metal value, to, again, hinder counterfeiting.

However, it certainly does have an improved durability.

I would certainly add dollar coins - dollar bills are just irritating.

Perhaps, if the tech exists, some manner of hologram or RFID chip which would aid in verifying the validity of the coin, and in counting.

I'd also add either some kind of microban coating, or some other surface material, which is toxic to pathogens.

No thank you, I kill enough RFIDs in my day to day life, many simply on principle. The last thing I need to be doing is microwaving what little cash I can put together.

[Greg]

90% Silver? With Silver at around 30 bucks per troy ounce? Nobody is crazy enough to mint coins with materials worth dollars, with face value worth fractions thereof.

Yes, if you intend to actually have coins in circulation the raw material value has to be less than the face value. Else people will fight to melt them down. Don't open an arbitrage charity, you'll never have enough resources to pour down that hole.

You also don't want the raw material value to be much less than the face value, so there is little incentive to counterfeit.

[Gunnuts]

Well, an important aspect of coins is how well they can be counted, and counterfeit detected.

Furthermore, you don't want too great a disparity between face value and metal value, to, again, hinder counterfeiting.

However, it certainly does have an improved durability.

I would certainly add dollar coins - dollar bills are just irritating.

Perhaps, if the tech exists, some manner of hologram or RFID chip which would aid in verifying the validity of the coin, and in counting.

I'd also add either some kind of microban coating, or some other surface material, which is toxic to pathogens.

Two words to forever change your opinion of dollar bills....strip club.

[JAG2955]

Nitpickers. Assume silver and gold are at their 1982 prices. My point was that I'd like to see a return to either a full or partial bi/tri/metallic standard.

The material is arbitrary. Who/what do you want to see on it?

[HTRN]

Two words to forever change your opinion of dollar bills....strip club.

I think I did a post pointing out that as one of the big disadadvantages of dollar coins. On the other hand, I pointed out you'd never have the soda machine reject a bill again.

I do like the idea of coins, at least for smaller units of currency, made of plastic like casino chips, with a RFID buried in them. It makes it difficult to duplicate(especially if the only source for the chips is one supplier who only sells to the feds), and eliminates one of the more common tactics used by high end counterfitters - bill "washing"(IE, removing the ink from 1 dollar bills, and reprinting as large denomination notes)

[dfwmtx]

With inflation affecting prices, we need $500 and $1,000 bills. I think the faces of the two whom we should blame most strongly for modern inflation should be on them. I'm not completely sure whom that would be though; too many folks contributed. Honestly, it's kinda hard to conceal plenty of money on thy person when your largest denomination is $100, without bills getting sweaty or smelly.

On a less serious note, I think special welfare money should be given out. Put FDR on the $1 Wellie, Harvey Milk on the $3 Wellie, Karl Marx on the $5 Wellie, Richard Nixon on the $10 Wellie, Ronald Reagan on the $25 Wellie, Bill Clinton on the $75 Wellie, and Obama on the $100 Wellie.
This way, when the US fractures along red/blue lines, we'll already have the currency issue resolved.

[HTRN]

With inflation affecting prices, we need $500 and $1,000 bills.

The reason why the US no longer prints denominations larger than 100 dollars is simple - big bills are loved by counterfeiters and money launderers.