Pennies are going away in the US
And part of the reason is because they cost twice as much to mint as they are worth?
First, why does that matter? What does any of that matter everything to government does costs money. That’s kind of the whole point. The government isn’t making $100 because it printed one.
And secondly, even if that was true, everything else costs much less to mint than its value, often by orders of magnitude, so the cost of the penny is just tiny fraction of the whole thing. So why does that matter?
So what am I missing here?
Or is it just one of those things that people keep repeating?
First, why does that matter? What does any of that matter everything to government does costs money. That’s kind of the whole point. The government isn’t making $100 because it printed one.
And secondly, even if that was true, everything else costs much less to mint than its value, often by orders of magnitude, so the cost of the penny is just tiny fraction of the whole thing. So why does that matter?
So what am I missing here?
Or is it just one of those things that people keep repeating?
41-45, T
