Slashdot Mirror

← Back to Stories (view on slashdot.org)

US Pennies To Be Worth Five Cents?

Posted by ryuzaki0 on from the new-nickel dept.

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."

4 of 729 comments (clear)

  1. Re:then make them out of plastic or such... by iminplaya · · Score: 1, Redundant

    ...and do NOT make good stripper tips.

    They keep falling out of the coin slot, eh?

    --
    What?
  2. Re:then make them out of plastic or such... by Xaoswolf · · Score: 0, Redundant
    I like the $1 bill...

    I can only think of one place to put a $1 coin on a stripper, and you'd get kicked out if you tried it...

    --
    Xaotik Designs
  3. Re:then make them out of plastic or such... by Plug1 · · Score: 0, Redundant

    dude $1 coins ? What would that do to the strip club industry?

  4. Re:then make them out of plastic or such... by silgaun · · Score: 0, Redundant

    It would make tipping strippers a bit more difficult