

It costs 1.62 cents to make a penny. - DanLivesHere
http://us1.campaign-archive.com/?u=2889002ad89d45ca21f50ba46&id=100162f868

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shasta
Statements like "..., it's cost slightly more to produce a penny than the one
cent it is worth, leading to a loss of of about $20 million dollars, total, in
2009." are wrong minded. If every penny cost exactly one cent to make, we
wouldn't be "breaking even" -- we'd still lose one cent per penny produced in
production costs. The cost of producing money compared to its monetary value
is irrelevant (though there is a problem if you can extract more than a cent
of profit from melting them down).

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DanLivesHere
It's a loss for the Mint, which sells coins at face value to the Fed. The Mint
is taxpayer funded, so there really was a $20MM loss of taxpayer money in
2009.

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phirephly
It's a cost to the taxpayer for a tactile service to the economy. Paving our
roads was an enormous cost to the tax payers, but that doesn't bother anyone.
Whats the difference between having roads to drive on, and having physical
money to trade with?

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zck
If the government could change the way they pave roads to save money while
still having the same quality of road, it would be good for them to do so.

If they could make pennies for cheaper, it would be good to do so.

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ry0ohki
Seems like an easy way to compromise... get rid of the penny and make a new
zinc based coin with abraham lincoln on it that is a 20 cent piece

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vannevar
The real problem is the enormous inconvenience costs associated with using
pennies. Next time you get one, leave it on the counter and you'll be money
ahead. Never take them and never give them, maybe we can start a movement.

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27182818284
$180K in lobbying seems beatable.

