Obama wants cheaper pennies and nickels

Yahoo ^ | Wed, Feb 15, 2012 2:34 PM EST | Chris Isidore

[B.O. Plenty]

copper pennies are worth 2.45 cents as of today...

...and regular nickles are worth 5.58 cents as of today...

...I am throwing copper pennies (1980 and older) and all nickles into a pot...

...what can it hurt...

...I just may wind up with a shit pot full of money...heh heh

...ref: http://www.coinflation.com/

[Yo-Yo]

We also need to do away with the short lived 1 and 5 dollar bills

Amen but be prepared to be flamed by the "I don't want no One Dollar Coin" luddites.

[wideminded]

What is about our government that they can’t make simple cost effective changes to our coinage?

People don't like change (variation from the way things have always been), especially if it involves learning about or getting used to something new. In America the legislators are still slightly afraid of the voters. In foreign countries people just accept it when the government tells them a change is for the best.

Evidently there's also not a lot of lobbying money behind making sensible changes to coinage.

[rightly_dividing]

Its been around for years and called a debit card. No cash needed.

[upchuck]

Ping.

[upchuck]

From someone who can remember when penny candy was a big deal, pennies today are a royal pain in the ass. Get rid of them and round everything to the nearest nickel. Done.

[DarkWaters]

Lets see, they clipped coins which was punishable by death unless of course you are the state. They cladded coins, they had pouches with brass slugs called them a fallus (sp?) and yes even these where ‘printed’ with impunity by the state and became worth less. Changed the percentage content of there gold and silver coinage a number of times. All of this of course led to taxing property to the point very few could own, so they then sold it to someone who could or well connected and didn't pay the tax. The former owner remained on the land working it. Then of course it became a rule that in key manufacure of goods, if you where born to someone who was a part of that craft then you to where required by law to keep the family busines going (i.e. you had to stay in that trade) even though there was no money in it. If you ever wonder where serfdom has its roots, it is rooted in inflation and corruption.

[Pontiac]

Amen but be prepared to be flamed by the "I don't want no One Dollar Coin" luddites.

Oh I know “I confuse those dollar coins with a quarter”. But the size ratio between the dollar coin and the quarter is the same as that between the quarter and the nickel.

And the new dollar coins are even are a different color.

Pay attention to people it is not that difficult.

[Junior_G]

We also need to do away with the short lived 1 and 5 dollar bills

It seems like such a no-brainer, yet legions of retards bellow with rage whenever the idea is suggested and it goes nowhere.

[upchuck]

From someone who can remember when penny candy was a big deal, pennies today are a royal pain in the ass. Get rid of them and round everything to the nearest nickel. Done.

[blam]

Nope. He's not getting my nickels.

He can go after Kyle Bass's nickels first.

Why Kyle Bass Acquired $1 Million Worth Of Nickels - Business Insider

[P.O.E.]

Used to see pennies and pick them up. Now I regularly see dimes, quarters, nickels, etc. on the ground.

Between the rise in prices and the “I got my money free from the gummint” attitudes, I’m not really surprised.

[RedMDer]

Freepers! Come on! Day 47 of the Freepathon and only 44 days until the start of the next. What will you do and where will you go if it goes? All contributions are for the Current Quarter Expenses. Click here or mail checks to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794

Freepers! Come on! Day 47 of the Freepathon and only 44 days until the start of the next. What will you do and where will you go if it goes? All contributions are for the Current Quarter Expenses. Click here or mail checks to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794

[ml/nj]

Just the administrative cost of minting 4.3 billion pennies costs almost a half-cent per coin by itself

Here's a plan: Eliminate the penny and sh*tcan the 2.15 billion worth of government employees eating out our substance for their useless endeavor.

ML/NJ

[Pontiac]

Evidently there's also not a lot of lobbying money behind making sensible changes to coinage.

I guess what your saying is that there is no campaign cash out there for a politician to make for changing paper dollars to coins.

Follow the money takes on a whole new meaning.

[SWAMPSNIPER]

They could press them out of bullshit reinforced plastic.

[familyop]

Here’s the answer. Make ‘em out of ivory.

[flat]

’ If you ever wonder where serfdom has its roots, it is rooted in inflation and corruption ‘

Ladies and gentlemen i give you DARKWATERS typical erudite

free/rep. contributor....

thanks man..

[ynnahall]

Thank you for providing an interesting topic here. A while ago, I came across an article connected with this issue. It was entitled "Obama calls for lower cost of making pennies and nickels". It really does cost more than a penny to make a penny and over a nickel to make a nickel. The same isn't really true for dimes or quarters though. The recently submitted “Obama budget” suggests changing the composition to make the two coins more cost effective because it could save $100 million per year! Imagine that! The money saved could be utilized or funded to more important matters. Now, do you want the money's composition be changed?