"Usa Act" May Kill Penny, Nickel & $1 Bill

Lose the superiority complex - and the registers can be programmed to round to the nearest 5 cents by themselves without any work for the cashier (and don't say it'll cost millions to reprogram them).

Rounding to the nearest 5 is easy, even to the malevolent degenerates that we imagine at the registers (you try handing change to people who think you're a useless high-school dropout all day and see how you like it). Here's the little table. The Canadian government distributed little posters explaining how all across the country:

.00, .01, .02 become .00.
.03, .04, .05, .06, .07 become .05.
.08, .09, .10 become .10.
and so on. You don't even have to memorize it when almost every till in the country has this very same guide right next to it.

"Why are there six that sound down but only five that round up?!" Because .00 and .10 are the same. Next question!

In the worst-case scenario (they rounded up from .01 to .05 instead of down!) you lose the staggering total of 4 cents. Will this add up to millions across the country? Who cares? It's 5 cents to you. Next time you find a nickel on the ground consider that particular expense paid. Anything about companies rounding up on purpose to gain a whopping one or Two Cents per transaction simply doesn't happen, and if it did happen, then the time it takes to think about those one or Two Cents is actually worth more than one or Two Cents themselves, so who cares?

I may have overstated the point a bit but if you can't sell a 3c piece of metal for close to 3c because there is a law against melting it then who really owns it.

More importantly, if you want to melt your own pennies it is technically against the law. If you can't sell a house at market price or use it as you choose then who really owns it? Sure, it's very unlikely the government will step in if someone is melting a few pennies but the fact is they can.

I suppose what bothers me most about the law is that there will be people prosecuted eventually. And it will be the government itself that ends up melting most of these coins. Government inflates the currency and then legistates against Gresham's Law. Meanwhile the people who earn the money are at the whim of both the inflation and the laws against nature invented by government. People are injured multiple times by the same processes and a few peoples' lives will be ruined as government tries to hold back the tide through legislation.

It's wrong. Pennies are wrong. Waste is wrong. Depriving people of full value of their property is wrong.
Maintaining a broken currency system is wrong.

Trying to milk a cactus to feed the multitude is wrong and will eventually fail.

How in the world is it depriving people of full value? Only people trying to get rich quick try to melt down coins like pennies. In my opinion melting coins should be illegal so it wouldn't matter. These are a part of histoy, and it is thankful to collectors, even the ones that collect circulated coins, that examples of many coins still exist becasue people wanting to get rich for no work like those Pawn Stars flunkies that destroy them.

The reason the law can say that is because it belongs to 2 people at the same time. Neither of which is the government:

1) the United States people ("We The People")
2) the one in possession of it

The problem then is that coins can even be melted. You are allowed to own all things needed to make a pipe bomb, but you cannot just go around making pipe bombs now can you? (I would hope you wouldn't WANT to either!)

Let's use some common cents (pun intended) how about it?

I couldn't find the video but found another "Modern Marvels" episodes about US money and how many people it takes to make a single mother plate (or was it master?) for making dollars, and the time and cost, as well as the same for a coin die. Well the state and ATB Quarters have probably cost more than the amount exceeding the face value of cents. Websites for the kids aren't free, it comes out of taxpeyes money to do all those color in this State Quarters or take a quiz on these ATB Quarters. electricity bill, hosting, admin, etc all have to be paid to keep these sites running as well as designers to code the things and people to make the little shockwave games and such. NONE of which would have been needed is Congress didnt decide not just once, not twice with the 6 territories, but 3, that is right 3 times to do something silly with quarters to make 112 new designs in the span of what will be 2 decades!

112 coin designs requiring multiple people to make multiple steps in them ALL and them make all the dies. There is where the money is being wasted! If these quarters are making that much profit from the sale of mint sets and proofs, then the extra money chould cover the continuatino of the cent and nickel.

2001 Annual Report
quarters ( ATB) cost 11.14 cents each to make. That is 13 cents profit each just for circulation strike quarters in 5 designs!

391,200,000 business strike quarters made in 2011 made $54,220,320 profit.
was all that money used to pay for the people who designed through making the dies for those 5 quarters for each mint?

that would have made @22.5 million pennies or @5 million nickels.

Is the mint just as dumb as other modern businesses so it doesn't put money it makes back into doing business and just pays off its CEO/CFO and such with bonus packages?

how many of those were sold at a higher than face value price even? How many mint sets were sold where those 10 quarters gained more than just the $2.50 face value?
$19 per roll of ATB Quarters, that is an additional $9 almost 100% increase in face value and over 100% increase in "profit" just for the rolls. 35 cents profit over cost for each ATB Quarter sold as a roll. how many other ways do those quarters come in? PDS sets, year sets, annual sets, bags,...

I am calling BS on the concept the Mint doesn't make more than enough money to bite the bullet on both nickel and cent unless someone shows this math person some REAL numbers to substantiate the ridiculous claims the rich politicians that don't even use cash or coins are making!

Math says you and they are both WRONG! If my math is wrong it is because information required is being hidden on purpose. Not conspiracy nonsense, jsut akin to "trade secrets" BS that the Mint shouldnt have the right, nor does it have the right to hide! I just don't know where I would find the annual cost to run the mint, the prices per plate to punch the blanks from, the % of the plate that becomes blanks, etc.

Give me the numbers and I will more clearly prove the loss as wrong.

If the Mint is supposed to be "making money" to deal with the deficit, then they have been messing up since Nixon!

If you literally make money, and can't figure out how to EARN money, then maybe they have the wrong people doing the job!

so give me something other than hearsay, conjecture and anecdotes to prove it isn't making money?


Want me to grab the numbers from 2011 and tell you how much the Mint REALLY made in profits? (it will be numbers based on mintages found on this site, and costs found on the Mint website, as well the face value of the coins; not considering sales of coins higher than face value.)
$296,445,094 = 2011 US Mint profit

$130.4 million is what was lost on minting nickels and cents and still the US Mint made nearly $300 million profit! (cost @ $230 million to make those @ $89 million face value worth of nickels and cents)

the 8,196,900,000 business strike coins minted in 2011 cost $425,372,306 for a face value of $721,817,400 (half dollar cost per not found so it is not figured in.)


BONUS:
2,918,400,000 $1 notes were made in 2011 for a cost of 5.4 cents each and profit of $2,760,806,400 by the BEP.

If the mint made those it would lose 13 cents per $1 coin profit, but would have a lot less to deal with having to destroy or re-issue them since coins last longer than paper bills do. I am pretty sure there would be plenty of money left to make nickels and cents when the nonsense of redesigns for NA-Sacs and Pres$ are over with and a single design is returned to.

So the excuse the Mint is losing money is vastly outweighed by the BEP which makes $100 bills for 13 cents for a profit of $99.86 for each of the 723,200,000 $100 bills made in 2011.

The Dept of Treasury isn't hurting in ANY way shape or form that the penny or nickel is in ANY danger of causing the economy to crash by still using them!

whoa. I dont necessarily want to steer this convo off into a 'rights' discussion, but....individual rights NEED protection from society.

That is...unless you live in a socialist country.

...








Apologies for the highjacking....

Of course. I just don't see how the constitution or basic moral code demands the "right" to a 1 cent coin or $1 note. It's not a rights issue at all. There are no rights being violated.

It's a bit of an odd concept, but the money does not actually have value itself, it's a representation of wealth that is required to carry out commerce. Destroying it means you've changed the money supply, which would be problematic in large quantities. Nobody cares if you melt a penny or put it on the railroad tracks? Heck, Disney even has penny "defacer" machines in Disneyland that they make a profit from. So obviously the law is not there for small quantities. However if you melted a truckload of them, maybe you just created a problem for the rest of us. That's what the law is about.

Changing the money supply and denominations is in fact "working for us" because it saves us money and improves efficiency. If you want the government to provide conveniences and ignore costs, then there is a long list of things I'd add to my wish list ahead of a penny and paper dollar.