Message:

<p>[QUOTE=&quot;John Burgess, post: 7503364, member: 105098&quot;]The U.S. mint makes a profit, and a very tidy profit off of everything else besides the cent and the nickel, I&#039;ve written on here before about where the mint loses, and where the mint wins, and the overall WIN size each and every year where they give money back (seigniorage)&nbsp; to the government.&nbsp; </p><p><br /></p><p>which brings me back to my point, Canada, finds themselves now using more nickels than before at a cost of 11.2 cents to make each, instead of the 1.6 cent per cent, so to give a nickel as change they lose 6.2 cents instead of the 2.4 cents for 4 pennies for each nickel that needs to be made since it&#039;s doing the work of the cent now... so now they are talking about getting rid of the nickel next... then what? clearly there&#039;s a cycle/pattern here..... Canada saved 11 million annually by stopping the cent, however, they are spending many more millions on nickels now and now the nickel is the problem and since getting rid of the cent was so &quot;painless&quot; according to the PR around it why not the nickel also....</p><p><br /></p><p>which will increase the need to manufacture more dimes and quarters, which will increase the price of raw materials to do that, which will in turn push it&#039;s cost up from 5.69 cents each dime to some higher number at a later date. we can probably stop on the quarter for a while, it only costs 9 cents to make now, so there&#039;s that I suppose. </p><p>Once you get it started, it&#039;s had not to just keep doing it, so, do you really want everything rounded up to the nearest quarter? the cent is a baby step, and maybe nobody misses it, but it starts the cycle to it all changing for good as each denomination gets killed off, and then currency gets revalued because hey, everything costs at least a dollar now, so why not make the dollar worth $10 or $20 and slide everything else up also, so it will appear like you got more bang for the buck. </p><p>What could go wrong? It&#039;s just a cent, nobody will miss it....</p><p>Maybe not, but if you do, it&#039;s gonna be way too late to go back.</p><p><br /></p><p>If you advocate for killing the cent, then you must advocate for killing the nickel at the same time, it&#039;s an even bigger loser than the cent is.&nbsp; It costs 2.06 cents to make each penny and 7.53 to make each nickel.... </p><p>Each cent made loses 1.06 cents, each nickel made loses 2.53 cents.</p><p>yet nobody is talking about killing the nickel also..... and should be.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in