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2 of my Banks have notified me of another Coin shortage.
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<p>[QUOTE="princeofwaldo, post: 7689406, member: 24091"]With copper still above $4 a pound, beats me how the cent and nickel survive in circulation. Sure, there is a ban on melting them down. But at some point the cost above face-value to produce the coins will be greater than all the seigniorage from the other denominations combined. At that point, something will have to be done, and the psychological hit to the dollar will be far greater than many expect. Once lower denominations start getting whacked like in India, the charade that inflation isn't a problem pretty much losses all credibility.[/QUOTE]</p><p><br /></p>
[QUOTE="princeofwaldo, post: 7689406, member: 24091"]With copper still above $4 a pound, beats me how the cent and nickel survive in circulation. Sure, there is a ban on melting them down. But at some point the cost above face-value to produce the coins will be greater than all the seigniorage from the other denominations combined. At that point, something will have to be done, and the psychological hit to the dollar will be far greater than many expect. Once lower denominations start getting whacked like in India, the charade that inflation isn't a problem pretty much losses all credibility.[/QUOTE]
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2 of my Banks have notified me of another Coin shortage.
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