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Posted 06/15/2015 3:49 pm
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I'd say transportation cost is a consideration.
I'd say transportation cost is a consideration.
Which begs the question, why are they producing in Denver when the vast majority of Denver's demand is on the left coast? San Francisco would be a much better location from a logistical standpoint, but then labor costs and California's regulatory environment would negate much of the savings. I'm thinking that the Carson City Mint needs to be reopened. :)
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My question is, why do we need billions of coins annually for a nation with 300 million people? We haven't had any significant coin shortage in 50+ yeara, and the average coin lasts 25-50 years these days. We could probably stop making coins entirely for the better part of a decade before most people even noticed.
I don't know on the official number of how many coins are "retired" annually, but some part of me very much doubts that it's even a minor portion of what is put in by new production.
My question is, why do we need billions of coins annually for a nation with 300 million people? We haven't had any significant coin shortage in 50+ yeara, and the average coin lasts 25-50 years these days. We could probably stop making coins entirely for the better part of a decade before most people even noticed.
I don't know on the official number of how many coins are "retired" annually, but some part of me very much doubts that it's even a minor portion of what is put in by new production.
The fact is that it's really pretty simple. Banks buy coins from the mint because they don't have enough. If they had enough (like happened in 2009 when people turned in their coins to banks), then they wouldn't need to order. If banks could not buy coins, commerce would suffer.
