Thursday, February 16, 2012

Alphabe~Thursday "M" is for Money

AKA: Moolah, bread, cash, chips, coin, dough, funds, gold, gravy, legal tender, loot……...

                      Money often costs too much.

~Ralph Waldo Emerson

I heard on the evening news that President Obama is asking Congress permission to change the “metal recipe” used to make a penny and a nickel.
Apparently it cost more than they are worth to make them.

Photo Credit: Peter Griffin Pocket Change

A one-cent (Penny) cost 2.4 cents to make.


A five-cent (Nickel) cost 11.2 cents to make.

I also read:


The US Mint implemented Regulations back in 2006 to limit exportation*, melting, or treatment of the one-cent coin and the five-cent coin.
*Travelers may take up to $5.00 in coins out of the United States and individuals may ship up to $100 in these coins out of the country in any one shipment for legitimate coinage and numismatic purposes.

(Numismatic~ I may use that word as my "N" word for next week)
And the fine for melting down coins? Not more than $10,000, or imprisonment of not more than five years, or both, if a person knowingly violates the regulations.
The Government continues to make coin money even though it cost more to make it than it's worth?
Does that make sense?
Or should I say does that make cents?
 Well that's my two cents for this week's Alphabe~Thursday.  Stop by Jenny Matlock's blog (off on my tangent) and check out more on the letter "M"
Penny for your thoughts?~Ames


Dominique Goh said...

Whao..didn't know that it was so expensive just to "make Money".. in that case there should be more virtual or credit usage instead of physical dollars and coins.

Linda @ A La Carte said...

It's just a crazy world is all I can say@ Good post Ames! hugs, Linda

NatureGirl said...

And by "2 cents" I assume you mean...4.8 cents?! Good information. Thanks! Happy AT!

anitamombanita said...

Ames, that was rich!! heehee! Numismatic, eh? Yup, sounds like a good N for Next week!

Splendid Little Stars said...

nope, doesn't make "cents!" Who would've guessed? Thanks for informing us of this numismatic situation!

Judie said...

Hahaha! I thought about Money for my post today! You did a much better job with yours than I would have!


Sherry@Back2Vintage said...

Very thought provoking! Great information!

Taylor Boomer said...

what a treat,

you have done your homework on these,

glad to learn from you on money making...


Jenny said...

These are some Magnificent facts that I never knew before...

A Metal recipe that costs More Money to Make coins than they're Monetary value...

I agree that is noncents...

Marvelous post for the letter "M"!

Thanks for linking.