The Price of Money is Up, Way Up

Wrap your mind around this one: According to 60-Minutes and the U.S. Mint, it costs our nation $134 million to make $80 million - if we make it out of pennies. Nickels? Even worse - $124 million to make $60 million. 10.33 cents to make a 5-cent nickel. 1.675 cents to make a 1-cent piece. And we wonder why our nation is in such a horrible financial mess. We are literally flushing money down the drain every single day - in the process of physically making the money! Yet all we ever hear about are redesigns of our paper currency (five dollar bills will be purple!). Commemorative Louis and Clark nickels! Why aren't we redesigning the penny and the nickel? There must be a cheaper material, a more cost efficient process... maybe both! Yet we trudge along, clinging to this relic, this archaic coinage.

Why would you not stop this hemmoraging?


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