A penny for your thoughts..................
A penny for your thoughts..................
It’s quite stupid, the penny and possibly the nickel should be ditched anyway.
Return to better metals for the coins. Save bucks by not paying congress and the senate and removing their retirement. All of them are making more $$ from graft and corruption then from their salaries anyway. These are despicable people who deserve prison terms following their retirement.
I say ditch the penny but make the nickels out of wood.
As long as they still make them so they fit in my fuse box, I’m cool with it.
I am glad to see that Congress is guarding the ramparts. There are 13 to 26 illegal aliens, from only God knows where in the US, and Congress is sweating how the US Mint manufactures pennies and nickels. May the Lord watch over us and protect us since Congress is OTL.
Worst economy since 1943!
US Constitution Article 1 section 8
“no state shall make anything but Gold and Silver COIN a LEGAL TENDER in payment of debt”
I guess the reading and comprehension skills of the Law Givers is nonexistent. They all should be tried for treason, and upon conviction be executed.
Eyeamok
It's time for a thoroughgoing coinage and currency reform. It took 121 years from the ratification of the Constitution to put a dead politician on a coin, the last non-dead politician coin fell in 1948.
Step one: No more dead politicians, at least not for another 121 years. Presidents are not kings, they are not sovereign equivalents, and they don't belong on our coinage. Animals (Flying Eagle), stylized figures of Liberty, and representative (symbolic) people are all acceptable.
Step two: Start the coinage at 10c, and go to $5.
If government would stop deficit spending, it might only cost a penny to make a penny again.
“getting rid of the penny made sense but wasn’t politically doable”
No, that would be an admission that the Gov has stolen the savings of everyone holding dollars by devaluing the currency (printing lots and lots of little pieces of paper)
The Emperor has no clothes. Just waiting for some little kid to point it out to the huddled masses.
Saw an interesting post a few days back: The inflation rate from the beginning of the country up to 1913 (the year the Federal Reserve was created) was 8%. Not 8% per year, a total of 8%. The inflation rate between 1913 and today is something like 2600% (I’m not sure I remember this number but 2600% is close). Who need taxes when the government can simple print your money away?
Rather than eliminate our small denominations, it would be better to revalue our dollar by a factor of 10. That is, issue new currency where 1 dollar equals 10 old dollars. Other countries have done it, it's not that traumatic.
As to the metals used, I think plain steel is stupid; it rusts. Stainless steel requires chromium, which is probably skyrocketing too. What are the Europeans using? They've got some cheap base metal coins that are better than steel.
This is nothing new, they have been “stealing my pennies and nickels for years....
“It now costs more than a penny to make a penny. And the cost of a nickel is more than 7 1/2 cents.”.....
...And only our dumb ass governmental bureaucracy would continue wasting taxpayer money making them....
One enterprising fellow has made a device for sorting out pre-1982 pennies from post 1982. Clever device. Videos of the machine sorting coins on the site.
http://www.ryedalecoin.com/Gallery.html
I can’t see any great value in eliminating pennies and nickels without Congress commissioning at least a $350 million study.
so if I insisted on being paid in pennies i could melt it down and make almost double my money back?
They need to just go ahead and drop the penny and nickel. The minimum wage is around a dime a minute. Why mint coins smaller than that?