Tuesday, November 15, 2011
Should the U.S. Mint discontinue manufacturing the one cent piece?
The current cent is made mostly of zinc with a copper plating, and costs the government more than one cent to make. Most people won't stop to pick up a nickel, let alone a cent, if they spot one on the street. Its purchasing power is nil, but seems to have some "value" in that its existence deters retailers from rounding up prices arbitrarily in order to 'shortchange' the consumer and make extra profits. Who hasn't steered their car into a gas station that advertises fuel at a cent or two less than the one across the street? On a twenty gallon purchase, it isn't worth driving across town to save 40 cents while burning a dollar's worth of gas to get there. Maybe the Mint should resume making two or three cent pieces instead? What do you think?
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