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Friday, November 30, 2012

Dollar's Decline Catches Up With U.S. Mint by Bob Adelmann

First was the announcement on November 26 from Secretary of the Treasury Timothy Geithner that the U.S. Mint will begin removing pennies and nickels from circulation starting the first of the year, supposedly because they’re too expensive to make. It costs the mint nearly 5 cents to make each penny while it costs more than 16 cents to make a nickel. This is costing the mint a lot of money, an estimated $187 million last year alone. - money is worth more than face value

Posted via email from iPT Perpetual Traveler

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