Worst Article Ever...

No, for every dollars worth of nickels you use you have 100 grams in the sock. For every dollars worth of cents you get 250 to 310 grams. So cents give you 2 and a half to three times the "BAM" for the buck.

The price for making cents has been going down According to the 2015 annual mint report page 11 the 2015 cent cost 1.43 cents apiece, the 2014 1.66 cents, the 2013 1.83 cents. Going to the 2012 Mint report we continue: 2012 2 cents each, 2011 2.4 cents, 2010 1.79 cents. The last time they cost less than one cent apiece to make was 2005 when they cost .97 cents.

 

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The major thing omitted are the distribution costs. You have to pay people to load and unload trucks and the gas/maintenance for those trucks. Then you have people dealing with moving boxes in each store/bank and their time cracking rolls and counting them. And, for you lefties, all the carbon this process puts into the environment.

Cent production needs to CEASE.....immediately IMO. They cost us all far more than they're worth.

 

Cost that are absorbed by other issues of coinage produces no savings for those costs. They are stilled incurred. Amortization/depreciation are sunk costs for assets which were paid for or contractual obligations to pay for were established in prior accounting periods. If you stop driving your car after 2 years that was financed for 7 years - you still have to make the car payments for the whole 7 years.

 

They've been trying to make a splash since AT&T bought DirecTV and the NFL Sunday package. I agree with your analysis.

 

The article was dumb, the end.

 

Congress needs to eliminate the cent. The mint is at their mercy.

In any case, it sounds like the nickel is the real loser. Its cost may be more than twice its face value (some sources say each one costs 11.2 cents to make). So, ideally, congress would vote to eliminate the cent and determine a cheaper manufacturing metal and process for the nickel.

I'm sure it will happen soon...

 

...but...at least people will bend over to pick-up a nickel.

 

...but...at least most people will bend over and pick-up a nickel.


ANY type of legal tender that most people are unwilling to pick up from the ground should not exist. It's really that simple.

 

I've heard some mention of just removing a 0 from our currency and abolishing the cent and the nickel. Maybe then the half dollar would be made for circulation again and other larger denominations of coins would be used!

 

The prices I quoted from the Mint report includes their distribution costs. Distribution costs after the mint delivers them are not the governments problem and are not figured into the cost of production.

 

Canada replaced their $1 and $2 notes with coins and eliminated the cent. Somehow they managed to do that.

 

Canada is smarter than we are, or at least their politicians aren't as afraid of doing something needed if if it will cause complaints briefly.

 

eh

 

They aren't smarter than us! How dare you say that 'Murica is dumber than Canada?!
But in reality I think they just don't care as much about tradition as we do in the good ol USA

 

A US president signing a bill eliminating the penny/cent would be admitting that inflation is real.

 

Hmm, why? Here in the euro area the inflation rate is pretty close to zero (certainly lower than the 2% that the ECB aims at), but several member states do not make 1 and 2 cent coins any more. They are simply costly (also in terms of distribution) and annoying ...

Christian

 

Maybe they're just bitter at how people used obsolete AOL CD's for all the silly and futile comedy we got from them (before they went to the landfill for eternity).

They also missed the "copper" date - stating 1985 instead of 1982.

AOL - need I say more.

 

Is there anyone over the age of 20 that DOESN'T know inflation is real? (And greater than the "official" rate.)

 

I use pennies to rub off the covering on scratcher tickets. I've used nickels, dimes and quarters too...but seemingly, I win more when using pennies.

 

The trouble with with 'Murcia (Mercia......you ever read any Bernard Cornwall?) is that the politicians are more concerned with getting re-elected than doing what is right.