I find it interesting that in times of other pressing issues that saving a few $$ on the mint process is taking up their time in DC. I don't know how to feel about it one way or another. If they go through with the new penny an nickels, I have to assume that more people will jump on the collection/hoarding bandwagon. I am still grappling with this low interest rate environment and what it will play out to in a few years. You have to believe that metals will not go down in price most likely though. A rush to commodities will heat up if public mania happens the way I am planning it to.
All I know is I'd better sort now or forever lose out on this once-in-a-lifetime chance to get copper below market price for zero risk and little effort.
I find it interesting that in times of other pressing issues that saving a few $$ on the mint process is taking up their time in DC.
Of course! It's business as usual. Wasting taxpayer money by making something for more than it is worth has a long and established history east of the Potomac.
Few hundred million here, few hundred million there...and the congressweasels that are spokespersons for the metals producers drag out the process and waste all the time. The studies for new coin composition were done long ago.
I feel that this would really "diminish" the penny. Everyone refers to the penny as copper; even though it is currently zinc. I also believe that this will "force" the public to start hoarding pennies.
***************************************************************** El Dee wrote:
Of course! It's business as usual. Wasting taxpayer money by making something for more than it is worth has a long and established history east of the Potomac.
The zinc and copper costs must be the culprit. Steel is cheaper I guess by a bundle. Of course it is. Will be alot easier to separate the new pennies from the old once they cease production of the CuZN ones. Perhaps they are doing us a favor in some way other than just saving on minting costs.
Steel pennies in the works?
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Posted - 05/08/2008 : 14:03:16
