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Obama wants cheaper pennies and nickels

 
Anonymous Coward
User ID: 6897354
United States
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
User ID: 10845349
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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

User ID: 10700168
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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
User ID: 1745445
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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.

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