I normally make it a point to not discuss politics. But this is the one issue that I can't be silent on.
In 2006 the cost to make a penny went above $0.01
It takes 2.41 cents to make a penny. Politicians on both sides of the isle want to do away with pennies and economists have agreed that removing pennies from circulation would have little to no impact on the overall economy. Canada has even done away with pennies because the value of the currency has reached the point where it is just not feasible to continue to circulate/make them anymore. Nickels are the same way, they cost 11.18 cents to make. Between both pennies and nickels, we spent $116.7 million dollars more than the actual currency is worth in 2011.
So why do we even have them? Why not just round off to the nearest $0.1?
It's time to end the tyrannical reign of the penny! Viva la Dime!
Sources:
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In 2006 the cost to make a penny went above $0.01
It takes 2.41 cents to make a penny. Politicians on both sides of the isle want to do away with pennies and economists have agreed that removing pennies from circulation would have little to no impact on the overall economy. Canada has even done away with pennies because the value of the currency has reached the point where it is just not feasible to continue to circulate/make them anymore. Nickels are the same way, they cost 11.18 cents to make. Between both pennies and nickels, we spent $116.7 million dollars more than the actual currency is worth in 2011.
So why do we even have them? Why not just round off to the nearest $0.1?
It's time to end the tyrannical reign of the penny! Viva la Dime!
Sources:
Premium Link Upgrade
Particularly this one >>> Premium Link Upgrade
