U.S. Mint Considering Ending Pennys and NickelsSubmitted by pawnstorm12 on Sun, 02/23/2014 - 01:35
The mint is considering an end to minting pennies and changing the metal content of nickels.
Nickels are 3/4 copper and cost the mint nearly double the value of a nickel to manufacture (9.41 cents per nickel to be exact).
Canada quit making pennies years ago.
Pennies are made mostly of worthless junk metal (since 1982) but they still have some copper.
But ending pennies would cause prices to be rounded up to the next nickel creating what many call "inflation" of prices of goods and services.
By definition that is not really inflation but prices would inevitibly rise.
All this to save the government some money in the minting of our coins, but not a word about the government giving away billions upon billions in foreign aid each year.
We should scream about this if they do it because this would hurt the citizens of THIS country, while continuing to funnel our money out to foreign nations with nothihng in return except MORE DEBT!