Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Worst Article Ever...
>
Reply to Thread
Message:
<p>[QUOTE="SuperDave, post: 2477143, member: 1892"]So, in 2013 we lost $35 Million over face value on Cent production. In 2014, $40.7 Million. In 2015, $46.8 Million. Over that 3 years, it cost the Mint $122.5 Million in throwaway money to produce Cents (based on 1.5 Cents each; in 2014 that was 1.66 Cents in reality so the actual loss was over $50 Million).</p><p><br /></p><p>Over the same period, we lost <i>even more than that</i> on Nickel production; Nickels cost over 8 Cents each to produce. So, a <b>quarter of a billion dollars lost</b> to produce two issues for three years. Those are numbers large enough to pay attention to.</p><p><br /></p><p>And as you mention, justafarmer, some of those costs would affect the cost of other issues if we eliminate that coinage. Not all of it, as labor, utility use and the amortization of no longer necessary equipment would be reduced, and those costs would be easily-absorbed by the much more "profitable" other issues struck (a Quarter costs only a little more than a Nickel to strike, for instance, under 9 cents).[/QUOTE]</p><p><br /></p>
[QUOTE="SuperDave, post: 2477143, member: 1892"]So, in 2013 we lost $35 Million over face value on Cent production. In 2014, $40.7 Million. In 2015, $46.8 Million. Over that 3 years, it cost the Mint $122.5 Million in throwaway money to produce Cents (based on 1.5 Cents each; in 2014 that was 1.66 Cents in reality so the actual loss was over $50 Million). Over the same period, we lost [I]even more than that[/I] on Nickel production; Nickels cost over 8 Cents each to produce. So, a [B]quarter of a billion dollars lost[/B] to produce two issues for three years. Those are numbers large enough to pay attention to. And as you mention, justafarmer, some of those costs would affect the cost of other issues if we eliminate that coinage. Not all of it, as labor, utility use and the amortization of no longer necessary equipment would be reduced, and those costs would be easily-absorbed by the much more "profitable" other issues struck (a Quarter costs only a little more than a Nickel to strike, for instance, under 9 cents).[/QUOTE]
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
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Worst Article Ever...
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...