Something I stumbled on

[PowerT83]

and thought this was pretty dang funny.

Jerry's Haven N Tell The $2 Bill

 

[droski]

i just want us to get rid of the pennie

 

[Vol Mania 21]

that's a great story, thanks for sharing

 

[jamesd1628]

People are idiots.

 

[cotton]

i just want us to get rid of the pennie

And print a $500.

Really, when you get down to it, Treasury should probably begin taking 1s out of circulation in favor of the coins, too.

 

[Plano Vol]

Look up seignorage and you'll understand why the Treasury is not so hot on ceasing production.

 

[cotton]

Look up seignorage and you'll understand why the Treasury is not so hot on ceasing production.

I don't think anyone has voiced an opinion on the amount of currency in circulation, only the denomination.

 

[droski]

Look up seignorage and you'll understand why the Treasury is not so hot on ceasing production.

i believe the pennie now costs more than 1 cent to produce.

 

[dickens821]

penny dammit.

 

[droski]

i never claimed to be very bright dickens

 

[dickens821]

i never claimed to be very bright dickens

:hi: Didn't mean to offend/insult. It was just bothering me. I had to bring it to light.

 

[Plano Vol]

i believe the pennie now costs more than 1 cent to produce.

I have heard that as well. Someone was suggesting that all coinage be eliminated. I thinK the U.S. Mint is making a fair amount on the other denominations.

 

[rbroyles]

i believe the pennie now costs more than 1 cent to produce.

My friend is the head engineer where they make penny blanks for the US Mint, and the blanks are less than a penny. They are copper clad over an alloy.

 

[cotton]

I have heard that as well. Someone was suggesting that all coinage be eliminated. I thinK the U.S. Mint is making a fair amount on the other denominations.

No, they are not. The US mint is a cost center. They don't make anything on the money they produce.

As for the US government as a whole, they would be much better off economically to produce all currency in coinage rather than paper, as even though coins initially cost more to produce, they are destroyed and must be replaced aproximately 5,987,987,979,987,987,987,986,547,862,874,687,664 times more often than coins.

Therefore coins > paper.

 

[OrangeEmpire]

To bad people are resistant to change.......

No pun of course......

 

[hmanvolfan]

That's a hilarius clip..

 

[Chemvol]

Pretty funny, PowerT83. Thanks for sharing.

My friend is the head engineer where they make penny blanks for the US Mint, and the blanks are less than a penny. They are copper clad over an alloy.

They are made near Greeneville if I remember correctly. Pennies now are about 95% zinc and have been since 1982. The newer pennies are about 20% lighter than the older ones, too.