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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."
Yogi-esque
That's Yogi Berra for those interested.
Latewire
You weren't doing anything with it.
Indecision is the key to flexibility.
I could have been writing a witty /. retort!!!
oh wait...
Tom
Someday, I'll have a real sig.
So you spend 3 years obsessively watching the ground for small metal bits and get $40 for your trouble.
...
Whereas you could get a minimum wage-ish job for $8/hour, work 5 hours and quit, and get the same money (not counting taxes).
Here's what you do:
1. Have kids (complicated step, I know).
2. When they can walk, brainwash them into watching for coins for you. They're closer to the ground, so it's easier.
3. Tell them they get to keep 10 cents for every 1 dollar they give you.
4. Tell them that it's better to get the 10 cents, since they get 10 things instead of 1 thing.
Guesstimating wildly, by the time they're smart enough to realize the scam, say 9 years later, you'll make $120 per kid, minus $12 for their take.
Of course, children cost thousands of dollars to raise, so you'll probably want to outsource this to third-world children. You could probably make a bundle on the currency exchange markets if you know what you're doing.
So, to make it official:
5.
6. Profit!
I watched C-beams glitter in the dark near the Tannhauser gate.