The U.S. Mint is trying to make coins of the realm cheaper. But it's not having much success. In a 400-page report to Congress, the Mint details exhaustive experiments to come up with a less expensive metal for casting coins. It's tried 29 recipes, testing them for hardness, corrosion resistance and durability and whether they look good. One elusive quality is the metal's magnetic signature. If that changes, not a parking meter or vending machine in the land will work right. At issue is the fact that it costs 2 cents to make a penny and 11 cents to make a nickel.
Did anyone stop to think that a nickel cost 11 cents to make because of who is making it? I just took delivery of a package sent Fedex but handed off to USPS for the finally home delivery. It was cheaper in price but got shipped from NJ to WV to DE and took 4 days instead of 2. Gee, I wonder which method was less costly.
Does this mean we can buy 11 cents worth of food with a nickle, instead a penny's worth? Why bother making coins, anyway? We will all soon be using Obama's "indpendence' Welfare debit cards soon enough....
Okay, nickel is the new gold! Buy nickels now! Melt them down and sell the metal at market price~ Double your money and the extra penny buys your fuel!
Did anyone stop to think that a nickel cost 11 cents to make because of who is making it? I just took delivery of a package sent Fedex but handed off to USPS for the finally home delivery. It was cheaper in price but got shipped from NJ to WV to DE and took 4 days instead of 2. Gee, I wonder which method was less costly.
ReplyDeleteDoes this mean we can buy 11 cents worth of food with a nickle, instead a penny's worth? Why bother making coins, anyway? We will all soon be using Obama's "indpendence' Welfare debit cards soon enough....
ReplyDeleteThe other way to fix this is to get rid of inflation.
ReplyDeleteNot to worry. The extra 6 cents it costs to make the nickel is borrowed money anyway.
ReplyDeleteOkay, nickel is the new gold! Buy nickels now! Melt them down and sell the metal at market price~ Double your money and the extra penny buys your fuel!
ReplyDeleteWe will all soon be using Obama's "indpendence' Welfare debit cards soon enough....
ReplyDeleteDecember 21, 2012 3:04 PM
How do I get one?