Monday, December 05, 2011
Good To Be Penniless
No. But I am suggesting that we take pennies out of circulation all together. Here is a rule of thumb that I gladly embrace and wish our government would as well:
Once the cost of producing a particular monetary denomination is MORE than each denomination being made, then take it out of circulation.
According to the video below for each penny we mint, it costs almost TWO pennies to produce. How long would it take you to stop manufacturing a product that only sells for half as much as it costs you to make? There I go expecting our leaders to have common sense, again! Silly me!!