[e-gold-list] Re: Hoard pre-'82 pennies, folks

[John Kyle]

> From: "Viking Coder" <vikingcoder at gmail.com>
> Date: Thu, 14 Dec 2006 11:49:06 -0600
> To: "e-gold Discussion" <e-gold-list at talk.e-gold.com>
> Subject: [e-gold-list] Re: Hoard pre-'82 pennies, folks

> "We are taking this action because the nation needs its coinage for
> commerce. We don't want to see our pennies and nickels melted down so
> a few individuals can take advantage of the American taxpayer," Mint
> Director Edmund Moy said in a statement.



Not to mention that the mint is a semi-private organization that makes its
money from the difference between the face value of a coin and the cost of
production. i.e. if it costs 12 cents to make a quarter, and they sell
it to the FED for 25 cents, the mint makes 13 cents profit. The mint
does take some orders from congress on what to produce, but they are not
funded by tax money. So the line about taking advantage of the American
taxpayer is bunk. In fact, the mint and the FED take advantage of
the taxpayer.


And they would change the nickel tomorrow if it didn't require modifying the
millions of vending machines out there.




- John






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