Monday, February 20, 2012

2.4 cents for your thoughts, even if they aren't worth a wooden 11.2 cents

The Obama Administration wants to save money.


As part of its budget, the administration has asked for flexibility in the metals that are used to create coins. As Outside the Beltway noted, the administration has stated that it currently costs 2.4 cents to make a penny, and 11.2 cents to make a nickel.

However, one question - which was also raised when Canada was considering a similar measure - is to consider the costs required to redo the American vending machines so that they will support the new coins.
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