Is It Time For 11-Cent And 37-Cent Coins? Maybe....
One economist has proposed that we scrap our current coinage system and replace the nickel, dime, and quarter with coins like a 3-cent, 11-cent, and 37-cent pieces!
The theory is that these denominations correspond with a more "efficient" coinage combination given coin usage for transactions. By the way, in this proposed system, we would still have the 1-cent coin.
I don't know how much you or I would like using 11-cent and 37-cent coins (could get kinda complicated when adding up our change from the jar, huh?), but did you know our country has already had a 3-cent coin?
It's true!
- Our 3-cent coin circulated from 1851 to 1889; one version was produced with nickel, the other silver.
- It was popular for postage transactions and served most of its purpose that way.
- Numismatists generally regard the 3-cent coin as an "odd denomination."
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