DailyDirt: Spare Some Change?

from the urls-we-dig-up dept

There have been proposals to stop minting the US penny for decades, but the little copper-colored coins are simply too beloved to remove from circulation. Rounding to the nearest nickel also probably rubs people the wrong way, but it seems like Canadians are going to find out how that works. Here are just a few other interesting articles on coins.

• Recently, Canada has killed its penny -- which cost more to mint than it was actually worth. In the US, it costs more to mint both pennies AND nickels, but it doesn't look like we're going to stop making them. [url]
• It's been difficult to get Americans to use dollar coins over paper bills. Dollar coins last longer and are cheaper to produce in the long run, but the Fed has just accumulated a collection of about 1.4 billion unused dollar coins that it's just storing in a vault. [url]
• Canada currently mints a $100,000 gold coin that weighs 10kg, but that's nothing compared to the proposal that the US treasury could mint a trillion dollar coin. A coin worth a trillion bucks was a crazy idea for solving the US debt crisis last year because there's no statutory limit on the amount of coinage the Fed can produce (while there is a limit on paper currency). [url]
• To discover more stuff on economics, check out what's currently floating around the StumbleUpon universe. [url]  

As always, StumbleUpon can also recommend some good Techdirt articles, too.

Filed Under: canada, coins, currency, gold coin, money, nickel, penny