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