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<p>[QUOTE="Troodon, post: 341722, member: 4626"]I think if it reaches the point it costs say, 5 times what it's worth to mint, it would probably be pretty easy to eliminate. The United States Mint is the only government organization that actually runs at a profit... they lose money every time they mint a penny or a nickel, but the profit on all the other coins makes up for it currently. When it starts approaching the point where the pennies' and nickels' losses cut into the gains of the other circulating coinage too much I think they'll have a much easier case in eliminating them (or at least making them from cheaper metal.) At that point the financial impact argument will be able to overide the argument from those who have in interest in their continuation, such as those in the zinc and copper mining industry...</p><p><br /></p><p><br /></p><p><br /></p><p>Ron Paul hasn't withdrawn his nomination yet as far as I know lol... well won't get into politics here but since it's not at all a controversial statement to state Ron Paul is nowhere near a viable candidate, will ponit out that Paul actually would like to eliminate fiat money entirely and get back onto the gold standard. I'll leave it to you to decide if that's a good thing or not... but that's economics, not politics...[/QUOTE]</p><p><br /></p>
[QUOTE="Troodon, post: 341722, member: 4626"]I think if it reaches the point it costs say, 5 times what it's worth to mint, it would probably be pretty easy to eliminate. The United States Mint is the only government organization that actually runs at a profit... they lose money every time they mint a penny or a nickel, but the profit on all the other coins makes up for it currently. When it starts approaching the point where the pennies' and nickels' losses cut into the gains of the other circulating coinage too much I think they'll have a much easier case in eliminating them (or at least making them from cheaper metal.) At that point the financial impact argument will be able to overide the argument from those who have in interest in their continuation, such as those in the zinc and copper mining industry... Ron Paul hasn't withdrawn his nomination yet as far as I know lol... well won't get into politics here but since it's not at all a controversial statement to state Ron Paul is nowhere near a viable candidate, will ponit out that Paul actually would like to eliminate fiat money entirely and get back onto the gold standard. I'll leave it to you to decide if that's a good thing or not... but that's economics, not politics...[/QUOTE]
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