The cost of metal and minting far exceeds the monetary value.
Italy is now part of the EU, but the last time I was there, the lira exchange was about 1800 lire to 1 US $. At that time, a 10 cent coin, 1/10 of one lira, was very short in supply. They were necessary to operate an elevator in high rise buildings. The cost of metal and minting far exceeded it's value, and so, jewelers made jewelry from them. If a shopper was entitled to change, less than a lira, one might receive a packet of stamps, equivelent, or a wrapped mint/s, or a stick/s of chewing gum. When my late wife questioned this the answer was, "E soldi !" It's money.
Is this what we can expect if US stops making pennies?
2006-06-30
07:35:42
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