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 Posted - 12/22/2006 : 04:50:07
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The other day, I reached the conclusion that hoarding pennies is silly, because when a commodity gets too expensive, people start looking for replacements. This is not only true with money (zinc replacing copper) but even in industrial uses of metals as well. I know, as a computer technician, that at one point the leads in both memory and memory slots were made of gold, but they were eventually replaced with tin (mixing the two metals together causes corrosion which leads to various computer problems).
So I take all my pennies down to the local Coinstar last night. I also had a roll of dimes as well as several more dimes, which I opened up and threw in there as well. I figured that the bank would just get annoyed with so many rolls, and I knew that Coinstar counted for free when you got an Amazon gift certificate (I was planning on shopping on Amazon soon anyway.)
So, I'm dumping the coins into the machine. Several times it stops and tells me it has to catch up because I have so many coins! The total came to $18.48 ($15 or so of which were probably pennies.) Then, after I was finished, there was some kind of technical glitch, and the machine gave me a cash voucher (with a 0.0% fee) instead of a gift certificate to redeem at the Coinstar's location. Not only that, but some of my coins were returned to me by the machine!
I got my coins counted for free, with free cash in return, from a Coinstar machine! I wonder if it actually was a technical difficulty, or perhaps I just put too many pennies in ;)
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"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -John Maynard Keynes
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Posted - 12/22/2006 : 09:36:02
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Hoarding is a funny word, isn't it?
We freely admit here on this forum that we "hoard" pennies, etc.
But in my daily life when face to face with human beings, I shy away from the word hoard and use the words, "save" "keep" and hold onto".
One basic qwestion has to do with Malthus.
There was a famous debate / wager betwen Julian Simon and Paul Ehrlich.
You must be logged in to see this link.
Simon went to his grave with a smug smirk in the belief that he had won the debate.
Perhaps in his heart he knew better.
I strongly encourage all members of this forum to read up on the famous bet between these two men.
It is a parable for all that we do here.
The Ehrlich / Simon bet has everything to do with your decision to cash out of the penny game Old_Nickle.
Thanks for sharing your experience with us.
Please, do read up on that famous wager!
Peace!
.................................................
A billiard ball dropped from 1,362 feet (height of the South Tower) in a
vacuum would require 9.22 seconds to hit the ground. How then did the
towers collapse in 10 seconds and 11.4 seconds, and why has not one
member of the mainstream media insisted on honest answers from the
government in this regard?
"The individual is handicapped by coming face to face with a conspiracy
so monstrous [that] he cannot believe it exists."
- J. Edgar Hoover |
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Funny Coinstar story
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