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Obama wants cheaper pennies and nickels

 
Anonymous Coward
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02/16/2012 12:10 AM
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Obama wants cheaper pennies and nickels
The U.S. Mint is facing a problem -- especially during these penny-pinching times. It turns out it costs more to make pennies and nickels than the coins are worth.
And because of that, the Obama administration this week asked Congress for permission to change the mix of metal that goes to make pennies and nickels, an expensive recipe that has remained unchanged for more than 30 years.
To be precise, it cost 2.4 cents to make one penny in 2011 and about 11.2 cents for each nickel.

[link to finance.yahoo.com]
Anonymous Coward
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02/16/2012 12:34 AM
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Re: Obama wants cheaper pennies and nickels
He can always propose they be made out of wood...maybe balsa
Anonymous Coward
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02/16/2012 12:43 AM
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Re: Obama wants cheaper pennies and nickels
need to just discontinue them.Nothing to buy with either anymore and pretty soon wont be nothing for sale under $1
Anonymous Coward
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02/16/2012 12:46 AM
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Re: Obama wants cheaper pennies and nickels
need to just discontinue them.Nothing to buy with either anymore and pretty soon wont be nothing for sale under $1
 Quoting: Anonymous Coward 10845349


Anonymous Coward
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02/16/2012 12:46 AM
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Re: Obama wants cheaper pennies and nickels
Oh, the inconveniences that pop up when you to rapidly devalue your own currency.
_____tard

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02/16/2012 12:49 AM
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Re: Obama wants cheaper pennies and nickels
maybe its time to buy pennies in bulk. if they really were discontinued you could double your money overnight!
Anonymous Coward
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02/16/2012 12:52 AM
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Re: Obama wants cheaper pennies and nickels
The U.S. Mint is facing a problem -- especially during these penny-pinching times. It turns out it costs more to make pennies and nickels than the coins are worth.
And because of that, the Obama administration this week asked Congress for permission to change the mix of metal that goes to make pennies and nickels, an expensive recipe that has remained unchanged for more than 30 years.
To be precise, it cost 2.4 cents to make one penny in 2011 and about 11.2 cents for each nickel.

[link to finance.yahoo.com]
 Quoting: Anonymous Coward 6897354


Ohh Great. Debase our money even more. Thought that was Bernanke's job!
Eggcellent

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02/16/2012 01:24 AM

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Re: Obama wants cheaper pennies and nickels
So, boys and girls, time to start saving those pennies and nickels! I remember in 1964 when LBJ introduced the "peanut-butter" quarters. He said that America would ALWAYS have silver quarters, dimes, and 50-cent pieces. Yet within a year (or less) they were rarities. Now they are worth about 30 times face value.
"I have come to the conclusion that all news should be treated like 9/11, assume it is a psyop with actors participating in a staged event complete with props, until proven otherwise, in which case assume whatever is being recorded, reported, televised, is distortions/lying by omission/outright lies, until proven otherwise." - Anonymous, 4-13-12
Anonymous Coward
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02/16/2012 01:31 AM
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Re: Obama wants cheaper pennies and nickels
He can always propose they be made out of wood...maybe balsa
 Quoting: Anonymous Coward 10428999


I would have thought he would have suggested that they be made of Political Bullshit. Its the one substance America is overloaded with !!!
Anonymous Coward
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02/16/2012 07:33 PM
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Re: Obama wants cheaper pennies and nickels
maybe its time to buy pennies in bulk. if they really were discontinued you could double your money overnight!
 Quoting: _____tard


Six months ago there was an article in the wall street journal. This hedge fund manager stocked piled nickles like millions and millions of Nickles on pallets in a wharehouse. He was betting on just this thing.
King Christos
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08/28/2014 11:43 PM

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Re: Obama wants cheaper pennies and nickels
maybe its time to buy pennies in bulk. if they really were discontinued you could double your money overnight!
 Quoting: _____tard


Six months ago there was an article in the wall street journal. This hedge fund manager stocked piled nickles like millions and millions of Nickles on pallets in a wharehouse. He was betting on just this thing.
 Quoting: Anonymous Coward 1745445


OPenny
Son of Charlemagne, House of Plantagenet, House of Habsburg
Mortimer

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08/28/2014 11:51 PM

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Re: Obama wants cheaper pennies and nickels
need to just discontinue them.Nothing to buy with either anymore and pretty soon wont be nothing for sale under $1
 Quoting: Anonymous Coward 10845349


100 pennies make a dollar, I save pennies, never leave a penny on the ground. They grow fast, you could start your own wishing well, with a nickel, a dimes and pennies. Believe it or not they use that money that is thrown in the fountains, it adds up.

If you want to ask for donations you ask for change, pennies, nickels and dimes. People like their quarters, but anything less they will give if they got it. Then you take it to a bank and they count it for you, they have a machine that does the sorting and counting, then you get dollars.
Daughter out with my own way.
Mortimer

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08/29/2014 12:02 AM

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Re: Obama wants cheaper pennies and nickels
They could have machines make the money and less government workers, would save more, and keep the pennies and nickels. It also would cut back on the government payroll. Yes, I see a use for machine that could cut the work force in the mint. Then I see we could think of some other machines, don't have to be fancy machines that can do a lot of thing some of the worker that get paid so much, then cut the payroll. You make up for it in the long run, you don't really have to have a large computer banks to do it, simple robots.

A computer could take the place of a speech writer, they have the journalist and reporters. So, after awhile you won't have that much overhead. Everyone is expendable, just like the average Joe and Jane.

Look on the bright side we will all be in the same fix, no jobs no money then you won't have to worry about pennies in the first place. Machines will take care of it all.

Well can sit a play with our toes, so can they.;)
Daughter out with my own way.
Copperhead

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08/29/2014 12:07 AM
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Re: Obama wants cheaper pennies and nickels
Won't be long until the paper it takes for a dollar bill costs more than a dollar.
King Christos
King of the Europeans

User ID: 20495612
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09/01/2014 11:32 PM

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Re: Obama wants cheaper pennies and nickels
need to just discontinue them.Nothing to buy with either anymore and pretty soon wont be nothing for sale under $1
 Quoting: Anonymous Coward 10845349


100 pennies make a dollar, I save pennies, never leave a penny on the ground. They grow fast, you could start your own wishing well, with a nickel, a dimes and pennies. Believe it or not they use that money that is thrown in the fountains, it adds up.

If you want to ask for donations you ask for change, pennies, nickels and dimes. People like their quarters, but anything less they will give if they got it. Then you take it to a bank and they count it for you, they have a machine that does the sorting and counting, then you get dollars.
 Quoting: Mortimer


bump1453

Last Edited by King Christos on 09/01/2014 11:33 PM
Son of Charlemagne, House of Plantagenet, House of Habsburg

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