Perhaps encourage more use of coins by dropping the dollar bill and using a dollar coin. A dollar bill only lasts about 7 years anyway. Or maybe create a special event / day nationwide for people to turn in coins.
The obvious solution would be to make the penny worth one penny's worth of metal. And the nickel would be worth one nickel's worth. And so on. We could have a whole monetary system based on the value of some type of metal -- hey, wait a minute!
Fun fact: the largest amount of US coinage you can have without being able to make exact change for a dollar is $1.19
I wonder if a penny could be revalued or converted to be worth the same as a nickel. Therefore, there would not be losses because of the cost of production.
Perhaps encourage more use of coins by dropping the dollar bill and using a dollar coin. A dollar bill only lasts about 7 years anyway. Or maybe create a special event / day nationwide for people to turn in coins.
I've always been a big fan of the dollar coin! I'd support that move entirely.
The obvious solution would be to make the penny worth one penny's worth of metal. And the nickel would be worth one nickel's worth. And so on. We could have a whole monetary system based on the value of some type of metal -- hey, wait a minute!
Fun fact: the largest amount of US coinage you can have without being able to make exact change for a dollar is $1.19
Hey, wait a minute! That's a bad idea! ;)
Indeed. Not as bad of one as fiat, I don't think, but that's a low bar to clear.
Ok, so what if we only did dimes? Does a dime cost more to produce than it's worth?
onb ts hard twin
I wonder if a penny could be revalued or converted to be worth the same as a nickel. Therefore, there would not be losses because of the cost of production.