Cotton Prices Raise Price Of Bills - Coin Community Forum

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Author	Replies: 4 / Views: 1,665
stormdog123 Valued Member United States 64 Posts	Posted 03/08/2011 7:41 pm http://money.cnn.com/2011/03/08/new...tton_prices/ Quote: In 2010, the cost of making one note jumped 50% from what it cost the government in 2008. The government produced 6.4 billion new currency notes last year. Each one cost 9.6 cents to produce, including the cost of paper and printing. In 2008, it only cost 6.4 cents a note, a tiny bit more than it did in 2007, according to the U.S. Bureau of Engraving and Printing. With the price of raw cotton at a 140-year high, things could get worse. Quote: Just last week, the GAO called for replacing the $1 paper bill with a $1 coin, saying that the coins are more durable and do not need to be replaced as often. The GAO said the switcharoo could potentially save the government approximately $5.5 billion over 30 years, but didn't provide a breakdown of the cost of paper money. That almost 200 million every year if we get rid of the $1 bill. Report this Post to the Staff

Libertad Pillar of the Community Canada 3692 Posts	Posted 03/08/2011 9:05 pm C'mon hemp-notes.... Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21788 Posts	Posted 03/09/2011 04:27 am I would not smoke a note made from hemp fibre, the ink on the note may be toxic! I guess that it is possible to make paper from any cellulose fibre, but if my memory serves me correctly, Australian paper notes were made from flax fibre, not cotton fibre. All Australian notes now have a polymer substrate as from 1992. Report this Post to the Staff
wd1040 Pillar of the Community United States 3098 Posts	Posted 03/09/2011 04:32 am I find this ironically funny... We can't keep the gold standard, the silver standard, the copper standard, not really the zinc standard and now not even the paper standard? Report this Post to the Staff
zookr Valued Member United States 335 Posts	Posted 03/09/2011 4:55 pm Yep, here is the article (below)- first they want to delete the penny, now the note. Dollar coins have never really caught on much in America (in the last century, anyway). I do have a predilection towards the Morgan & American Eagle (silver) though, myself. Not into carrying SBA's or "Sac" coins much . . . . http://finance.yahoo.com/banking-bu...hu-container Yes, "WD1040" - quite a downhill slide we're all taking - thanks to Wall Street and many nameless others. Edited by zookr 03/09/2011 5:08 pm Report this Post to the Staff
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