When the price of coin silver reached the melt point, that is when you could melt a dime down for the silver and get more than 10 cents for it a change in materials was required. This was a concern for all of us that dealt with coin operated devices. As I had mentioned before, coin devices measure coins by their weight, size, and rho density product or acceptance number. The acceptance number is determined by rolling the coin down a ramp in an eddy current field.
There were many proposals for replacement materials. International Nickel had a coin made of nickel with a stellite core, Texas Instruments was proposing a laminated coin with commercially pure copper core and copper nickel outside laminates, and 3M was proposing a ceramic solution.
Rem our department head fell in love with the ceramic coinage. The rest of us couldn’t believe it. The coins looked like plastic wafers with cutouts forming letters and figures. Someone said they thought they looked like something you would find in a pack of bubble gum. However, there came a luncheon meeting to discuss these choices. We knew Rem would be forcing the issue.
During lunch Rem got up and began to speak. He pointed out that coinage should have certain features. It should look like money, and he held up a handful of these brown ceramic pieces. He rubbed them in his hands and said they should feel like money. Lastly, they should sound like money, where upon he thrw them down on the table. They broke into hundreds of pieces.
The 3M proposal was never spoken about ever again.
Cassondra
Nice story. How do you feel about “The end of the penny”?
Bill Mitchell
If you look at prices, the penny has already disappeared
Gary Waddell
As you know, Canada made this brilliant move more than 10 years ago and it was the best move the government made in years. Time to get on board!