Posted 05/07/2008 10:59 am
Canada and Europe already have steel cents(copper plated), I cannot imagine that we are too far behind.
However, this guy is a moron who has no business being on a finance subcommittee since he has not idea what he is talking about. Apparently, he is not aware that the US Mint creates a profit for the Treasury through seniorage(even through losses on the cent and nickel) and numismatic sales, there is nothing and never will be anything added to the debt by the Mint
quote:
Copper and nickel prices have tripled since 2003 and the price of zinc has quadrupled, said Rep. Luis Gutierrez, D-Illinois, whose subcommittee oversees the U.S. Mint.
Keeping the coin content means "contributing to our national debt by almost as much as the coin is worth," Gutierrez said.
However, this guy is a moron who has no business being on a finance subcommittee since he has not idea what he is talking about. Apparently, he is not aware that the US Mint creates a profit for the Treasury through seniorage(even through losses on the cent and nickel) and numismatic sales, there is nothing and never will be anything added to the debt by the Mint
Edited by biokemist6
05/07/2008 11:04 am
05/07/2008 11:04 am
