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US Pennies To Be Worth Five Cents?
Z-MaxX writes to point out Reuters coverage following up on last month's news that the US Mint has made it illegal to melt or export US coins in bulk, since the value of their constituent metals — in the case of pennies and nickels — now exceeds their face value. The new story quotes Francois Velde, senior economist at the Federal Reserve Bank of Chicago, who thinks the new rules will not be enough — he believes that determined speculators are already piling up pennies. Velde suggests "rebasing" the penny to be worth five cents. Quoting Velde: "These factors suggest that, sooner or later, the penny will join the farthing (one-quarter of a penny) and the hapenny (one-half of a penny) in coin museums."
A nickel ain't worth a dime anymore
Why not make ten bigger?
You see? You see? Your stupid minds! Stupid! Stupid!
Yeah, considering the USA is in a constant state of war, that would even make sense.
The grass is always greener on the other side of the light cone.
That's ok, 1 == 5 for sufficiently large values of 1.
The grass is always greener on the other side of the light cone.
So YOU'RE the old woman at the cashier pulling pennies out of her change purse!
I see your grandson managed to get you on the Internet. Here's a tip: You aren't really the 1,000,000th visitor to that web site and you didn't win a free ipod.
So surely the government will give me a discount if I pay my taxes in pennies and nickels!
I don't know. Making pennies out of plastic might make them seem cheap and not really worth anything.
I knew you guys had nickels and dimes, but nobody told me you guys had pennies, farthings, and ha'pennies!
;-)
You'll be telling me you've got thruppenny bits and silver sixpences next...
Somebody just let me know how many US guineas there are to the dollar
Both my parents and I keep an eye out for abandoned pennies. Walk across a parking and we scan the ground to see if one is lying around. You'd be surprised how many pennies one finds this way. They've thought about putting all these found pennies in a jar and see how much they could collect over time.
Anyway, I took them down to D.C. a year or so ago to visit one of the Smithsonian museums. As my mom is standing on the sidewalk, waiting for me to get out (traffic coming), I notice she walks between the cars and bends down. When I get out of the car I see there is a penny lying in the street.
Only problem is, she can't pick it up. She calls my dad over who also tries to pick it up. The penny has been lying on top of joint sealant which has softened enough that the penny is now held fast to the street unless one has a screwdriver to pry it out.
As I'm standing there watching this, I remark to them, "You know, I'll bet there's a camera somewhere recording this. I'll bet someone put that penny there and is trying to find out how many people are desperate enough to try and pry that penny off the ground. Congrats, you're on Candid Camera!"
We will bankrupt ourselves in the vain search for absolute security. -- Dwight D. Eisenhower
Of course, the government can make you turn them in and give 50 cents for fifty of them. Then they turn around and melt them down and sell them for $2.50. Maybe that's part of the new deficit reduction plan going through congress?
Hello Mr10cents!
- Disclaimer: Information in this post deemed reliable but not guaranteed.
So YOU'RE that guy ahead of me in line... :)
My wife does the same thing. It drives me nuts. I'm much more into never dealing with change, putting all of my coins into a huge pile, and then dumping them into the free Commerce Bank change counter after the pile achieves critical mass and things begin to orbit it. Last time I had $80 worth, and that's with me removing the quarters for laundry.
W..w..W - Willy Waterloo washes Warren Wiggins who is washing Waldo Woo.
So he'd be switching his login name to binary?
If this were to happen, any funds you had in penny form would immediately grow by a HUGE percentage... And it couldn't really be tracked by anyone, so the tax liability wouldn't exactly be an issue.
My friend, you 100% correct! Now is the time to invest, but think BIG! Invest in PENNY STOCKS! I have a number of suggestions for your consideration. Now, I'm not going to share this rare advice with the whole-world, no siree! I'd be sending you investment recommendation via email. Just watch, and when I tell you to buy a Penny Stock, do it now and do it BIG!
Grab the stock First Thing Monday morning and reap the benefits. Get in at the ground floor and see you at the top!
I'll just use them in the old fuse box.
To whomever is modding this "informative" instead of "funny", please frequently check the batteries in all of your smoke detectors and make sure your home insurance up to date....
The most important thing to do in your life is to not interfere with somebody else's life. -FZ
Here in Canada we have to tip with $5 bills instead. It sucks bad dude...
09 F9 11 02 9D 74 E3 5B D8 41 56 C5 63 56 88 C0
Perhaps the US Mint doesn't get skill from Smelting plain old copper anymore? Personally, I'll hold out for Arcanite or Dark Iron.
You can only drink 30 or 40 glasses of beer a day, no matter how rich you are.
-- Colonel Adolphus Busch
Just put the coins in the slot -- problem solved!
"...Think of how it would affect the adult entertainment industry!..."
I was finishing college when Canada replaced $2 bills with coins (toonie). There was a strip joint a few blocks from where I lived, and their big selling point was allowing the patron to lay, back-down, on the edge of the stage with a bill sticking out of his mouth. The performer would then go ahead and remove the bill with her breasts. If the bill was bigger than $2 she would provide additional 'services'. So anyways, within the first month of rollout of the new coin, there were a half dozen choking incidents and even paramedics had to be involved twice. The club eventually responded by putting signs up everywhere telling patrons to exchange their toonies for club issued $2 coupons.
Of infinite number of ways one can die, this was rather original. Just think about it.
Haven't been to the Blue Fox in Tijuana, have we? They used to have vertical slots in the edges of the tables; you'd put a silver dollar in the slot and the young lady would...ummmm...remove it.
rj
Pi Ran Out
The founding fathers would be proud. Or at least aroused.
> Can you name one law that has never been broken?
The second law of thermodynamics.
My other car is first.