After We Get Rid Of The Dollar Bill, We Should Move On To The Penny And Nickel Next

Replacing dollar bills with dollar coins is an obnoxious idea, if only because coins don’t work well in most wallets. Yet, this would seem to be a strong argument in favor of the practice.

Congressional auditors say doing away with dollar bills entirely and replacing them with dollar coins could save taxpayers some $4.4 billion over the next 30 years.

When you’re broke, it doesn’t make a lot of sense to waste 4.4 billion dollars on a minor preference. However, if you really want to see some news about our coins that will make your eyebrows raise, take a look at this.

Rep. Steve Stivers, R-Ohio, said a penny costs more than 2 cents to make and a nickel costs more than 11 cents to make. Moving to multiplated steel for coins would save the government nearly $200 million a year, he said.

Imagine the stupidity required to produce coinage that costs twice as much to make as it’s worth spread across every level of government and it’s easy to see why the country is such a wreck.

Also see...

Related Articles

21

Government Motors: The Coming General Motors Failure Will Be At Taxpayer’s Expense

FacebookTwitterEmail The Obama Administration has proclaimed TARP and the subsequent bailout for General Motors a great success. US Treasury Deputy

0

Unemployment benefits fight misses forest for the trees

FacebookTwitterEmail Yesterday, the Senate once again failed to pass an extension of unemployment benefits, with barely enough Republicans holding the

1

Former ACORN Worker Takes Plea Deal for Vote Fraud

FacebookTwitterEmail Just prior to the election we discovered that in the state of Nevada the former chief of the Association

Share This

Share this post with your friends!