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Should the US Government Kill Off the Penny and The Nickel?


�Should the United States Government kill
off the penny and the nickel?� Now I know what you�re thinking: why? Well, there are a few reasons:
It costs 1.7 cents to make a penny, and 8 cents to make a nickel. Considering that those figures are both more
than face value, we see that the US is losing $105 million annually on penny and nickel
manufacturing. It only costs 36 cents to make a dollar�s
worth of quarters, and 40 cents to make a dollar�s worth of dimes, so there�s no
point in getting rid of those. So now you�re saying, �Yeah, let�s do
it. Why not?� In fact, we�ve done it before. Until 1857, the US minted a half-cent coin,
made of 100% copper, in fact, it cost more than 14 cents to make. There�s another benefit of killing the penny
and nickel. It would save time. Have you ever spent time in the aisle fumbling
through your wallet or coin purse searching for those four pennies, only to find three? That costs time, and every day, it drains
a slight amount of money. With all these wonderful pros of trashing
our 1 and 5 cent coins, why haven�t we? Well, there� another option: switch metals. It seems simple, but there is one major problem. The Treasury estimates that by switching metals
for pennies and nickels, the US would save an annual $39 million. It seems good, except when compared to the
loss of money in the coin industries. Think vending machines, coin-operated laundry,
all of these machines would have to be modified. And the total cost? $10 billion! So, there is that one, tiny problem with switching
metals, and even killing off the two coins completely. For now, at least, we�ll still be fumbling
through our purses. But maybe soon, pennies will suddenly gain
value, as a collector�s item. What do you think? �Should the United States Government kill
off the penny and the nickel?� Please like and subscribe!!

2 Comments

  1. TheNewLucky
    TheNewLucky November 23, 2016

    I really like this video, (voice cracks and all) I think they should get rid of them or make them out of a cheaper material

  2. this man's sky
    this man's sky April 15, 2017

    relax kid you got this.

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