Melting Coins Now Illegal In the U.S. 778
A number of readers have noted the action by the U.S. Mint to outlaw the melting down or bulk export of coins. This has come about because the value of the precious metals contained in coins now exceeds their face value.
The Mint would rather not have to replace pennies (at a cost of 1.73 cents per) or nickels (at 8.74 cents). The expectation is that Congress will mandate new compositions for some U.S. coins in 2007.
If this keeps up... (Score:5, Funny)
If this keeps up, .002 cents really will [slashdot.org] = $.002
(Sorry, but it had to be said...)
Paper? (Score:5, Funny)
Intrinsic Value (Score:4, Funny)
Re:If this keeps up... (Score:5, Funny)
My question (Score:5, Funny)
Bah, I'm too busy anyways (Score:5, Funny)
Re:My question (Score:3, Funny)
Re:"precious metals" in pennies? (Score:3, Funny)
It could be worth significantly more than that if you threaten to smash it into somewhere important!
One MILLION dollars! Muahahahaha! Muahahahahahaha!
*ahem*
Re:If this keeps up... (Score:5, Funny)
.05 cents? Let us know when you've reached 20 and maybe somebody will send you a penny for your thoughts. :-D
Re:So, let me summarize... (Score:3, Funny)
For everything else, life takes VISA(tm)
Re:get rid of pennies altogether? (Score:5, Funny)
Why not get rid of nickles and dimes as well?
And why we're at it, let's get rid of all paper currency, replacing it with coins in the following denominations: $1, $5, $20, $50. Then we can stop printing money to replace all those torn dollar bills.
Think of the affect on crime. While you could carry a couple thousand dollars on your person if you really needed to, the drug kingpin who wants payment of a million in cash is going to need a forklift, not a suitcase. Similar issues of phyiscal inconvenience will deter counterfeiting.
Please no! (Score:1, Funny)
Re:get rid of pennies altogether? (Score:3, Funny)
Or we could, I dunno, not do that.
Re:If this keeps up... (Score:4, Funny)
Re:redundant posting? (Score:5, Funny)
Another Solution (Score:5, Funny)
Re:Another Solution (Score:5, Funny)
Re:If this keeps up... (Score:1, Funny)
First of all, we're not on the gold standard so we won't even go there.
Secondly, what would you base the dollar on? It can't be worth 100 cents once you remove the penny. You might as well get used to a new decimal system based on 20ths.
$100.99 can't exist so we'll call it $101.00 or $100.95. Well $100.95 can't exist since 95 percent of a dollar doesn't really exist anymore so we'll call it $100.19.
Then that makes $100.20 = $101.00.
Credit card companies would have a field day with it and interest rates would be false unless they were adjusted to a 20th system.
You've got to have a lowest common denominator and the penny is it.
If you're tired of lugging around your pennies, save them and buy stamps. The post office vending machines take pennies. Once a year I deposit all my pennies to get stamps.
Re:get rid of pennies altogether? (Score:5, Funny)
Re:get rid of pennies altogether? (Score:3, Funny)
Like strippers don't get fucked enough as it is. You think they won't start paying back progressively lower percentages of those tips when they turn that funny-money over for real dough? You underestimate the sliminess of the average "upstanding restauranteur".
Re:If this keeps up... (Score:3, Funny)
Re:If this keeps up... (Score:5, Funny)
Re:If this keeps up... (Score:1, Funny)
Re:So, let me summarize... (Score:3, Funny)
Or, rather: For everything else, there's MasterCard. :-)
Watch some TV dude!
Re:If this keeps up... (Score:5, Funny)
Re:If this keeps up... (Score:2, Funny)