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Old 12-16-2014, 10:44 AM
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Sometimes There's No Money in Making Money

Production costs for the four main U.S. coins went down in fiscal year 2014, but the penny is still costing American taxpayers more to make than itís actually worth, according to the U.S. Treasuryís December report to Congress.

Producing one dollar in pennies costs the U.S. Treasury $1.66. Manufacturing a nickel also costs more than its face value, at $1.62 for every dollar of nickels funneled into the economy. As of 2013, the Treasury was incurring an annual deficit of about $105 million dollars on penny and nickel production. Quarter and dimes, on the other hand, cost considerably less. A dollar worth of quarters cost 36 cents to produce and dimes cost slightly more, at 40 cents for a dollar's worth.


Maybe it's time to outsource production.

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Old 12-16-2014, 04:08 PM
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I like what the Canadians did with pennies.
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Old 12-17-2014, 01:11 PM
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The errosion of buying power at least in Canada made the penny over time basically useless. Nickles and dimes will probably drop out of circulation in the not too distant future up here as well.

Actually even using money at all is continuing to decline. I seldom carry any. Card transactions leave a beautiful paper trail in your wake though if a government ever became interested in you .

There is already a decent sized business selling peoples financial information out there. For example a member on our site found paypal had accessed his bank account even though he had never even given them his bank account information. He also had no issues with paypal.

We do not have a one and two dollar bills either for a long time now . Next the five dollar bill will be replaced with a coin as well.

The wife over coffee this morning made a statement of how lucky we were with the incidental costs so low to operate our house . The figure she mentioned made me think that not long ago it would have been a serious mortgage payment at least. But she was right today it is virtually nothing.

As an illustratation of how things change. Years ago when the penny became basically worthless. We acquired an antique twenty gallon glass chemical shipping bottle. When the change in our pockets became too heavy we dumped the pennies into the bottle. After a couple of years it became so heavy you could not move it except with great difficulty. Since it is not totally full I guess we could top it off with loose dimes and nickles.

The only problem being is neither the wife or myself use actual money for transactions anymore. With rare exceptions. The common exception is where we find a situation where cash only with no sales tax involved occurs. Cash then still has it's uses. For example if a seller has something for sale for twenty five K. I might take twenty K with me and when it is offered the seller has a choice to make. Chances are he feels you are not coming back and will make a decision at least one way or another. I always try to be helpful.

Last edited by barry12345; 12-17-2014 at 01:32 PM.
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Old 12-17-2014, 01:19 PM
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I'd suggest a careful word study of the words/terms "money" versus "notes" and "slug coins". Black's law dictionary is a good place to start......

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