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Pennies, nickels cost more to make than they're worth

cnn.com — Further evidence that times are tough: It now costs more than a penny to make a penny. And the cost of a nickel is more than 7½ cents.

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  • jmf866, on 05/07/2008, -0/+3When are people going to wake up and start putting the blame for this inflation, which includes gas, oil, food, and commodity prices, squarely on who is responsible? That is the Federal Reserve. Is it any surprise that when government interferes in free markets that the whole thing eventually spirals out of control, destroying economies and livelihoods?

    Watch this hour long video to learn more:
    http://video.google.com/videoplay?docid=5232639329 ...
  • PongGod, on 05/07/2008, -0/+2Even if pennies could be produced for less than a penny, why are we still minting them? There is absolutely nothing you can buy with a penny and barely anything you can buy for less than 5 cents. If nickels were to become the smallest denomination in our currency, I don't think there would be any negative consequences.
    • mediaspree, on 05/07/2008, -0/+1How ya gonna pay the taxes on that 1.00 Whopper Jr. from the value menu?
  • poodigger, on 05/07/2008, -0/+0Protip for the Government: STOP MINTING MORE MONEY!
  • demicritter, on 05/07/2008, -0/+2The Federal Reserve has undermined our currency. Our money is backed by NOTHING! It used to be gold and silver, but the bandits of Wall Street saw other ways to rob everyone: Promissory notes. Switching to steel just adds that much more profit to the bottom line for the the thieves who control our money supply.
  • imacommi, on 05/08/2008, -0/+1This is one of the reasons that they love paper money, because it doesn't inflate in price and it makes it much easier to control the money supply. They will slowly get rid of all coin money if it is up to the bankers, even now they have changed all coins to alloys to save money on the cost of minting *real* coin money.
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