As the value of these coins declines to ever smaller amounts, the cost of manufacturing small, nearly worthless coins is increasing, as is the amount of our time spent keeping track of them and searching for them in checkout lines.
FTA:
‘David Owen writing for the New Yorker (Penny Dreadful: They’re horrid and useless. Why do pennies persist?) provides a number of anecdotes illustrating the perversity of our monetary system:
* Pennies cost about 1.7 cents to manufacture
* Nickels are even worse in percentage terms, costing almost ten cents’
A penny costs 1.7 cents to make, but is worth about 3% less than 1 cent, not counting the debt attached to each penny when it’s issued as currency. Can anyone guess why the nation is $9.4 TRILLION in debt right now? Could it be that Congress and the Judeocentric Federal Reserve system are BAD at running the nation’s business?
