[ExI] Coins (was: Inevitability of the Singularity)

[Kelly Anderson]

2011/7/18 john clark <jonkc at bellsouth.net>
>
> On Mon, 7/18/11, Kelly Anderson <kellycoinguy at gmail.com> wrote:
>
> >"The seigniorage on a 1 cent piece is just about break even."
>
> I don't know the latest figures but as of 2006 it cost the government 1.75 cents to make each one cent penny coin (even though it is no longer made of copper), and it cost 7 cents to make each 5 cent nickel coin (even though it is no longer made of nickel). The government doesn't know how to make money even when they make money.
>

Thanks for the numbers John. I have no reason to doubt them. I was
unaware that the metallic composition of the 5 cent piece had been
changed... do you know when that happened? The cent changed over in
mid 1982.

The key thing here overall is that there is no seigniorage on dollar
bills... which costs us all a lot of money.

-Kelly