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More nickel and diming




A house bill that would cut the U.S. Mint’s cost of making pennies, a bothersome form of exchange, also would allow an Ohio company to resume melting down older pennies for their increasingly valuable copper content.

The very existence of this bill is a testament to the idiotic frittering away of taxpayers’ money just to feed what seems a national obsession with minting and printing coins and currency that have outlived their usefulness. How else to explain legislation designed to change the metal content of coins in order to cut costs of production? …

… Making the lowest-denomination coins costs far more than they are worth: about 1.6 cents per penny and 10 cents per nickel. The United States should phase out coins that are a strain on the federal budget, along with the paper $1. …

– The Columbus (Ohio) Dispatch


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