No wonder we are going broke

[Luke]

It costs 9 cents to produce a nickel, and 2 cents to make a penny nowadays!

I am not providing link to story due it mentioning various political people in article, you can find story on Yahoo home page if you desire.

[tonesurfer]

It costs 9 cents to produce a nickel, and 2 cents to make a penny nowadays!

I am not providing link to story due it mentioning various political people in article, you can find story on Yahoo home page if you desire.
That's because the value of our money is eroding and it's nothing new.

[Scott Miller]

It's not like you pay 9 cents for a nickel, and then it's gone. The little boogers stick around for a while, being, like, nickels. Buying bubblegum and stuff.

[BobbyFudge]

I am not providing link to story due it mentioning various political people in article, you can find story on Yahoo home page if you desire.

But hey...you accomplished what you wanted.:dunno

[Jerrod]

If you think that's the most obvious example of where we're putting in more than we're getting out...

[schmidlin]

I've thought pennies and nickels should be phased out for a while now. Simple PITA. Get rid of them and remove the decimal point while you're at it.

Simply overdue.

[pater familias]

I wished I had a nickel for every time...

How in the hell are we supposed to deal with the blow to that part of our economy if we have no nickels?

[cram]

a year or so ago I listened to a news article as I drove on a long trip - basically, it's a federal crime to deface currency so you can't melt down the metals for a better selling price, but people have thousands of dollars in these coins in cache to keep as a commodity in the event of the big fan becoming SH***Y.

But really -
If you think that's the most obvious example of where we're putting in more than we're getting out...

Is a valid response and highlights a concern for issues to be found at the bottom.

[ShavenYak]

a year or so ago I listened to a news article as I drove on a long trip - basically, it's a federal crime to deface currency so you can't melt down the metals for a better selling price

To be precise, in general it is not a crime to deface currency unless done with intent to defraud. Otherwise, penny smashers, Santa dollars, and wheresgeorge.com stamps would all be illegal. However, there is a 2006 law specifically outlawing the melting of pennies and nickels.

[cram]

HAH!

Then I wonder if you could do the following -

Stamp all the coins to flat pieces of metal
Look at your collection of flat pieces of metal...
And think, "Hmmm... What am I going to do with all this metal which is obviously not currency???"
And then it occurs to you while you're putting a log on the stove it hits you...

:)

Laugh... I may, but the law is just that granular in some cases.

[Guitar Josh]

I've thought pennies and nickels should be phased out for a while now. Simple PITA. Get rid of them and remove the decimal point while you're at it.

Simply overdue.

Really? So people charge $9.01 for things and we just round that right up to $10? Sounds like a nice profit for the seller.

[stratzrus]

I'd say get rid of the penny, keep the nickel, and reintroduce the $500 bill.

[conundrum]

I have an irrational hate for nickels. They are my least favorite coin. At least with a penny it's not pretending to be useful, but that nickel, man, he's just so smug and unnecessarily large.:bkw

[The Last Rebel]

I have an irrational hate for nickels. They are my least favorite coin. At least with a penny it's not pretending to be useful, but that nickel, man, he's just so smug and unnecessarily large.:bkw
I hate nickels when I'm searching for quarters. Bastards like to pretend to be something they're not.

[small axe]

pennies are worth more than 2 cents because of the copper content...actually they are the most valuable....the other coins are not as valuable and cost too much.....

[scott]

The privatley owned central bank is the reason the country is so broke. Everything else is just a distraction.

[yodude]

That's because the value of our money is eroding and it's nothing new.
and the cost of the raw material and production costs are at record levels

[bluesjuke]

I have an irrational hate for nickels. They are my least favorite coin. At least with a penny it's not pretending to be useful, but that nickel, man, he's just so smug and unnecessarily large.:bkw


It's the perfect tool for adjusting the tailpiece on a Gibson without marring the slot.

[getbent]

a fact without context can mean anything.

[dividedsky]

Really? So people charge $9.01 for things and we just round that right up to $10? Sounds like a nice profit for the seller.

$9.10 would make more sense.

[lakehaus]

It costs 9 cents to produce a nickel, and 2 cents to make a penny nowadays!



I've noticed that the jingle of coins in my hand sounds differently that when I was a kid. The jingle today sounds like slugs did back then.

Hey - maybe it only costs 8 cents to produce a dime, and 17 cents to produce a quarter. We'd be okay then, wouldn't we??

[Dr. Tweedbucket]

Yeah, I just throw my change away, who needs it :dunno Vacations cost a lot too! I can't afford to take 1,117 vacations at 5 star hotels every year anymore :cry: Teh last one to Spain almost killed me!

[5E3]

Don't worry, as a cost savings measure all U.S. currency will soon be produced off-shore, over seas in a foreign country, where labor is less expensive. :D ;)

[Big White Tele]

The cost of the quarter is not 25 cents, so the profit from this is used to offset the higher cost of the nickle and penny.......and there's no way nickleback is worth 9 cents.

[Cobra]

Buffalos are the bomb.
Howzabout a 3 legged buffalo?
http://rarebuffalonickel.com/wp-content/uploads/2009/01/3-legged-buffalo-nickel.png

[Zero]

I've thought pennies and nickels should be phased out for a while now. Simple PITA. Get rid of them


I like to pinch them though so have a heart.

[Blue Strat]

Really? So people charge $9.01 for things and we just round that right up to $10? Sounds like a nice profit for the seller.


Kinda over shadows that extra 4 cents we pay for a nickle too...on an absolute basis. :)

[Midnight Lady]

Really? So people charge $9.01 for things and we just round that right up to $10? Sounds like a nice profit for the seller.The U.S. and Canada should take a lesson from Australia which did away with the penny.

Instead, cash registers automatically round up or down to the closest 5 or 0. In other words, $1.00, $1.01, $1.02 willd be $1.00 whereas $1.03, $1.04, $1.05 will be $1.05.

Makes sense to me, esp. in Canada where the introduction of the $1 and $2 coin has made for cash registers with insufficient coin pockets.

[Big Boss Man]

Why do we even really need a physical currency?

[EADGBE]

I don't think they should be phased out just yet. Because they'll round everything off to the nearest nickle or dime. And guess who will come out ahead of that deal. And since a lot of people like to use credit cards, checks, paypal, etc., we don't need or use as many pennies and nickles as we used to.

[dividedsky]

Why do we even really need a physical currency?

I've been saying this for a long time. I think having everything on cards would be more convenient, efficient, and could possibly help to curtail a lot of illegal activities....well maybe not the last one. People will figure out how to buy anything regardless of their being a paper trail.

[Julia343]

But still I'd like the bank to deposit into my bank account in the Caymans $.00001 on each interest transaction they make. They wouldn't miss it, and well.... I could have a private jet, mansion, and servants in no time.

And I still like the idea of currency. Not every place can take a debit. Besides debit card use can be used to track where you are, and it's just more big brother. Don't we have enough of big brother watching. Now they want to irradiate us in airports. Next there will be television cameras in the bathrooms so they can see the effort.

[bluesjuke]

Brother, can you spare a dime?

[Jon Silberman]

What will happen to nickel bags?