Our money? Less than worthless.
Mint bans melting coins now worth more as liquid than loot
December 14, 2006
WASHINGTON – Given rising metal prices, the pennies and nickels in your pocket are worth more melted down than their face value – and that has the government worried.
U.S. Mint officials said Wednesday they were putting into place rules prohibiting the melting down of 1-cent and 5-cent coins, with a penalty of up to five years in prison and a fine of up to $10,000 for people convicted of violating the rule.
Because of the prevailing prices of metals, the cost of producing pennies and nickels exceeds the coins’ face value.
A nickel is 25 percent nickel and 75 percent copper. The metal in one coin costs 6.99 cents for each 5-cent coin.
Modern pennies have 2.5 percent copper content with zinc making up the rest of the coin. The current copper and zinc in a penny are worth 1.12 cents.</i>
Go ahead, wander around the rest of the day with this notion floating around in your head. Our government produces money that costs more money to produce that it is redeemable for- as money. The solution? Make more money.
Which is worthless, meaning you have to make more of it to…
Ouch. I think I snapped a blood vessel.
