Now there are mummerings that ole' Jefferson's - not George's -
mug may be next on the chopping block...
The death of the penny - which President Donald Trump ordered late last year after the coin began to cost approximately four times more to make than it’s actually worth in US currency - has some wondering if the nickel, which has been in circulation since 1866, could soon get the same fiscal farewell.
While penny preservationists once cautioned that eradicating the 1-cent coin had the potential to cause monetary mayhem, the only real-time consequence to date has been scattered penny shortages, according to USA Today.
Now, some are wondering if the nickel could be next on the chopping block of change - being that they are even “bigger losers” in terms of production cost-to-worth ratio. In 2024, each nickel made cost the United States Mint 13.78 cents, a loss of nearly 9 cents a coin. Added up, that equaled a $85 million loss. Meanwhile, each penny made in 2024 cost the US government 3.69 cents to make that year, adding up to an $18 million loss.
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How much value has the feral government's insane fiscal policies really stolen from us?
ReplyDeleteIn the 50's and 60's full size candy bars (like a Hershey bar) were 5¢. Now they are around $2 Dollars.
When I was growing up we could have bought 40 Hershey bars with that $2.
Before the 1973 Oil Embargo gasoline was 3 or 4 gallons for a dollar except when there were gas wars.
Then the price for a gallon would drop to 20¢ or less. Now it's $3 to $4 dollars or more for a gallon
Fast food hamburgers and French Fries were around 11¢ each but the federal government politicians
changed that. Now both are priced somewhere around $3 to $4 each.
Nickels minted prior to 2004 are real nickels with a small percentage of copper. Nickels minted after 2004 are zinc slugs. The pre-2004 nickels actually have a metal value of 7.3 cents. Currency debasement, anyone?
ReplyDeleteOur money used to be minted from the metals of war: silver, nickel, and copper. Silver and copper are essentially gone. Why not remove nickel from the plebs too.
ReplyDeleteThe goal of the criminals in power is NO MORE CASH MONEY. Their strategy is to chip away at it's existence one piece at a time. They started with the penney. Now they will end production of ALL coins...one denomination at a time. Once coins are removed from the equation they will get rid of bills. Then they will have COMPLETE control over who spends how much on what. And they can steal any money they want with just a keystroke. It's been something the criminals in power have wanted to do for decades.
ReplyDeleteCash or barter only. If it becomes profitable I might have another checking account, but no cards, no e-payment.
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