Wednesday, October 15, 2014
Pennies From Hell: Change We Can't Believe In
The cost for the U.S. government to produce pennies and nickels is more than the face value of the coins, a government watchdog points out.
Judicial Watch, in a statement Wednesday, called it an “egregious waste” and a “fleecing.”
The U.S. Treasury’s practice, Judicial Watch said, “means hundreds of millions of coins have been sold well below cost.”
“Incredibly, the government has knowingly done this for at least eight years and actually documented the egregious waste in several reports though nothing has been done to stop it,” Judicial Watch said. “In fact, both the Treasury and the Bureau of the Mint have extensive documentation on this, yet it continues today.”
at 10/15/2014 10:30:00 PM