And the Zinc mining stocks are uptoday: Teck Resources (NYSE:TECK), Hecla Mining (NYSE:HL), and Hudbay Minerals (NYSE:HBM).
The US Mint lost $69M making pennies last year
21–30 of 223 posts
Re: The US Mint lost $69M making pennies last year
#22[deleted]
Re: The US Mint lost $69M making pennies last year
#23Wondering if someone is collecting them and extracting the metals out and selling for a profit?
That would be interesting, but I believe it is explicitly illegal. Doesn’t seem worth the risk and overhead.
Re: The US Mint lost $69M making pennies last year
#24So get rid of them. At one point in my life, a long time ago, things could be purchased for a penny. That time has long passed. Now pennies are used just to make the math work out. Round everything up a nickel ($0.05) and call it a day. Or look at it another way: inflation has made the nickel from my youth into today's penny.
No. Most purchases are not made with cash and fewer people are using cash every year. You're basically saying that all consumers should pay more with every purchase so that the mint can make https://www.frbsf.org/cash/files/figure-3-2015dcpc-share-of-...
Non-cash transactions would still be commonly made in $0.01 increments. $53.47, for example. The difference is, if you wanted to purchase a dozen things that total $53.47 at a store, if you use cash, you'd end up paying $53.45 or $53.50, depending on the store's policy. Many may end up rounding down, what a deal! Or they'll choose to be greedy and trade in that goodwill for three measly cents.
Re: The US Mint lost $69M making pennies last year
#25So get rid of them. At one point in my life, a long time ago, things could be purchased for a penny. That time has long passed. Now pennies are used just to make the math work out. Round everything up a nickel ($0.05) and call it a day. Or look at it another way: inflation has made the nickel from my youth into today's penny.
No. Most purchases are not made with cash and fewer people are using cash every year. You're basically saying that all consumers should pay more with every purchase so that the mint can make https://www.frbsf.org/cash/files/figure-3-2015dcpc-share-of-...
It’s actually the people who use credit/debit cards to make purchases who raise the prices on all goods/services for people who pay cash.
The average merchant pays 2.3-3.5% per swipe, as a result prices are increased across the board and passed on to consumers, no matter if they pay with card or cash.
Re: The US Mint lost $69M making pennies last year
#26So get rid of them. At one point in my life, a long time ago, things could be purchased for a penny. That time has long passed. Now pennies are used just to make the math work out. Round everything up a nickel ($0.05) and call it a day. Or look at it another way: inflation has made the nickel from my youth into today's penny.
No. Most purchases are not made with cash and fewer people are using cash every year. You're basically saying that all consumers should pay more with every purchase so that the mint can make https://www.frbsf.org/cash/files/figure-3-2015dcpc-share-of-...
You're basically saying that all consumers should pay more with every purchase so that the mint can make
I basically said what I said. I want all consumers to pay more so I don't have to have pennies rattling around everywhere, which I eventually accumulate to the point that it's worth going to bank to get rid of them.
Pennies: the busy-work of finance.
Re: The US Mint lost $69M making pennies last year
#27So get rid of them. At one point in my life, a long time ago, things could be purchased for a penny. That time has long passed. Now pennies are used just to make the math work out. Round everything up a nickel ($0.05) and call it a day. Or look at it another way: inflation has made the nickel from my youth into today's penny.
No. Most purchases are not made with cash and fewer people are using cash every year. You're basically saying that all consumers should pay more with every purchase so that the mint can make https://www.frbsf.org/cash/files/figure-3-2015dcpc-share-of-...
Then only round cash purchases.
Re: The US Mint lost $69M making pennies last year
#28Wondering if someone is collecting them and extracting the metals out and selling for a profit?
That would be a federal crime, at least for now. But there seem to be people hoarding pennies in hopes of legislation to change.
Re: The US Mint lost $69M making pennies last year
#29When I visit America, pennis are the most useless thing to carry out. All they do is add tons of weight and bulk in change without providing any utility.
Re: The US Mint lost $69M making pennies last year
#30Earlier quoted context omitted.
No. Most purchases are not made with cash and fewer people are using cash every year. You're basically saying that all consumers should pay more with every purchase so that the mint can make https://www.frbsf.org/cash/files/figure-3-2015dcpc-share-of-...
You're basically saying that all consumers should pay more with every purchase so that the mint can make I basically said what I said. I want all consumers to pay more so I don't have to have pennies rattling around everywhere, which I eventually accumulate to the point that it's worth going to bank to get rid of them. Pennies: the busy-work of finance.
So do what most people do: don't pay with cash.
Asking everyone to pay more so you're not inconvenienced with change, even though you're asking for it by using cash, is quite self-centered.
If you don't like pennies, then just give them away as soon as they're handed to you.