Article

2006-12-15 -Short Attention Span Theater-

Pocket change now worth more than face value; melting them for face value outlawed

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Posted by Anguper Hupomosing9418 2006-12-15 00:00|| || Front Page|| [3 views since 2007-05-07] Top

#1 Only in America :/

For thousands of years rulers 'debased' their coinage by substituting cheaper metal into their gold and silver coin which were currency based upon the actual value of its prime content. Now we have prime content composed of debased metal which is worth more than the marked value of the coinage.

Ever think about revaluing the currency by looping off the last digit? Oh wait, yeah I forgot the gasoline prices - 215.8 heh.

Posted by Procopius2k 2006-12-15 09:37|| 2006-12-15 09:37|| Front Page Top

Posted by 3dc 2006-12-15 14:00|| 2006-12-15 14:00|| Front Page Top

#3 Actually, the above illustration is misleading. Perforating the penny involves piecework, capital equipment, utility mains costs, fixturing, tooling depreciation, material handling labor, inventory control and related overhead.

Posted by Zenster">Zenster 2006-12-15 17:54|| 2006-12-15 17:54|| Front Page Top

#4 Nope, just a 1/4 inch drill and bit.
I know the story, a Nickel washer was 15 cents, so the plumber simply drilled holes in nickles and saved 10 cents each.

Very old story.

Posted by Redneck Jim 2006-12-15 21:29|| 2006-12-15 21:29|| Front Page Top

#5 So, you just lay the penny, unplugged electric drill and drill bit on the ground (benches cost money, just like drills and bits), and they magically assemble themselves to bore through the penny. How interesting. If your personal time has no value, that would eliminate the labor costs, but everything else in the equation is an expense of some sort.

Posted by Zenster">Zenster 2006-12-15 22:25|| 2006-12-15 22:25|| Front Page Top

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