Stop making cents: US Mint moves forward with plans to kill the penny
Stop making cents: US Mint moves forward with plans to kill the penny
The U.S. Mint has made its final order of penny blanks and plans to stop producing the coin when those run out.
You're viewing a single thread.
Kill the nickel and dime while we're at it.
Why would you want to get economic analysis from a non-expert/complete amateur?
I promise you there would be significant fallout to this that Grey, who has no economics degrees nor any experience at all in economics, is not going to catch because Grey is only good at the very basic stuff that amatuers like myself can explain competently.
What fallout? Their worth is negative. Other countries and the us have done this when the impact was theoretically higher.
I’ll admit I’m not an economist but this easily passes the smell test without further explanation of the negative.
How is theor worth negative? Are they one time use items?
The (negative) value is created at minting. They are negative value and then just part of the system in circulation. Many aren’t in circulation either, though. They sit in a jar until they go to the bank and then shoved in a vault at the federal reserve.
Since they get used multiple times they do not retain that negative value.