I originally wanted to do a post on the subject of how expensive it is to have and use coins and it led me to realize how the government spends (and acts) irresponsibly. Then, there was so much data on the subject matter and I wanted to keep it short for a post. So, I am leaving a lot out, combining TWO points and leaving enough room for comments......
What it costs to make the following:
PENNIES.......to make a penny or 1.38 cents...........NICKLES......to make a nickel or 8.83 cents
To manufacture the pennies and nickels per year causes a loss $100 million a year. This is due to the cost of the metals that go into them. Of course the people who sell the materials to the government lobby yearly to keep it going. When they need or want to increase their companies PRO-FOR-MA, they just raise the rates and we (the gov) pays it. Congress listens more to them and less to us.
PENNIES ARE SO WORTHLESS...WE LOSE ONE MILLION DOLLARS A DAY IN PENNIES EVERYWHERE ON PURPOSE
Do you pick up a penny when you see one? Have you noticed how people leave them behind for others at the check-out stand? Do you know that when cashiers balance a drawer, they often skip the penny count? If we eliminated the penny, we could just round off UP or DOWN.....it so simple.
Look how much time is wasted in giving change, storing change, counting change, and saving change. It doesn't make....dare I say it....CENTS.......?....
Before you go blaming the U.S. Mint, stop and take some time out. CONGRESS has the power to make the change...why don't they? Why would we allow losses to go on? Good business practices produce reliable results. Then, after that, just apply the rule of better, faster, and cheaper as the traditional business motivators and everybody wins.......
The U.S. Mint has been losing money since 2003. Post office loses money and is getting worse every year even after they raise rates. We have a serious problem in our government....IT IS CALLED LEAKAGE......
HERE'S A THOUGHT: We have people guarding the outside of the U.S MINT. Perhaps we really need someone guarding the inside. We are being robbed from the inside...not the outside. If fact, the robbers have a key to the place.
Here is the whole point:.....we need to save money in our government and... especially during this recession. Start with the penny elimination and then move on to the nickel. When you do the math and project for 5-10 years out, you are talking hundreds of millions of dollars (or more) of savings and a great deal more with tweaking.
Do this with everything the government manages and we wont have another headline about SOCIAL SECURITY shortages (nonsense), Post office running in the red, medicare increases, lack of unemployment funds, and lack of health-care funds and all the rest of it.
Without having to investigate, we know if you pick any governmental department, you will find unbelievable waste and if you add it all up, there is probably enough money there to send every one a check every month for a lifetime.
Congress knows all this and... year after year there is no change (pun?). Instead, the governmental cows get fatter and fatter and the people are told; we need more of your money via taxes to survive......NOT