When Paper Money Becomes Trash

Thursday, February 18, 2016
By Paul Martin

by Nick Giambruno via InternationalMan.com,
ZeroHedge.com
02/18/2016

It costs 1.7 cents to make a penny and 8 cents to make a nickel. The U.S. government loses tens of millions of dollars every year putting these coins into circulation. So, why is it wasting money and time making coins almost no one uses? Because phasing out the penny and nickel would mean acknowledging currency debasement. And governments never like to do that. It would reveal their incompetence and theft from savers.

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