When Paper Money Becomes Trash
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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