How is money minted?
Like in the US a nickel was made of nickel and a dime was made of silver are they still made that way? Also regarding UK coins what metals are used to make those coins what metal is use to make the One Pound coin?
How do they print pound and dollar notes and who designs them how often are notes changed in designs to stop forgery and money laundering.
Answers:
1) I am wondering how they make coins
=> Coins are minted. In brief, a mint uses several press machines that has 2 or more die(the coin mold) shafts each, then a coin blank is inserted in between each pair of shafts before being pressed by them. The production the coin blanks is a separate process altogether, which you can read further from the web. Hope you get an idea here, coz I can't go into all the details.
2) what metals do they use
=> Common metals used for world circulation coins are copper, nickel, steel, zinc, aluminium, tin. They are mixed using one or more metals to form a stronger alloy for coins. Precious metals like gold, silver, etc are only used for collector and bullion coins.
3) do they still use the traditional metals like silver and copper?
=> Nowadays silver is used mostly for collector and bullion coins. Copper is still being used for coins, but for the smaller denominations copper is plated on other cheaper metals rather than alloyed.
4) Like in the US a nickel was made of nickel and a dime was made of silver are they still made that way?
=> The US 5 cents is still made of nickel, 25% of it and the balance being copper. The dime was last made of 90% silver for general circulation in 1964. It's now made of copper-nickel clad on pure copper core. There're still a limited number of silver dimes being made, but for collectors only.
5) Also regarding UK coins what metals are used to make those coins what metal is use to make the One Pound coin?
=> The 1 pound coin is composed of 70% copper, 24.5% zinc and 5.5% nickel, or also known as nickel-brass alloy. The 2 pound is bi-metallic, where the centre is copper-nickel while the outer ring is composed of 76% copper, 20% zinc and 4% nickel. The 20p, 50p 10p and 5p coins are composed of 25% nickel and 75% copper, while the 1p and 2p are copper plated on steel blank(since 1992, before is bronze from 1971).
6) How do they print pound and dollar notes and who designs them
=> Dollar notes in the US are printed by the US Bureau of Engraving and Printing. UK pound notes are issued by various banks, depending on the four constituent countries. Read more here: http://en.wikipedia.org/wiki/british_ban... As to how banknotes are being printed, the notes will go through a series of steps(the paper, ink, etc) just like printing documents, only they're more secured and complicated. Sorry, but I don't know how to elaborate further.
7) how often are notes changed in designs to stop forgery and money laundering.
=> Additional security features are being introduced from time to time as deemed necessary by the issuing authorities to counter the ever increasing threats posed by counterfeiters and the advancement of printing technologies. The US has been introducing its new colored banknote series since 2003 with extra security features embedded on each design, and so has the UK with the intro of the new 20 pound note this year.
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