Did you hear that there is a shortage on pennies and their face value could be worth five times their current value soon.....(read it on yahoo news)
hmmm so, you still gonna save your pennies? Do you already have tons?
2007-01-24 05:58:50 · 5 answers · asked by Trese 5 in Entertainment & Music ➔ Polls & Surveys
Sharply rising prices of metals such as copper and nickel have meant the face value of pennies and nickels are worth less than the material that they are made of, increasing the risk that speculators could melt the coins and sell them for a profit.
Such a risk spurred the U.S. Mint last month to issue regulations limiting melting and exporting of the coins.
But Francois Velde, senior economist at the Chicago Fed, argued in a recent research note that prohibitions by the Mint would unlikely deter serious speculators who already have piled up the coinage.
The best solution, Velde said, would be to "rebase" the penny by making it worth five cents rather than one cent. Doing so would increase the amount of five-cent coins in circulation and do away with the almost worthless one cent coin.
2007-01-24 06:06:01 · update #1
yeah, i have a whole lot, and am planning to save even more!
2007-01-24 06:10:39 · answer #1 · answered by KylieM 6 · 0⤊ 0⤋
that will never happen...it takes more than a cent to make a penny..do the math..
2007-01-24 14:02:15 · answer #2 · answered by Anonymous · 0⤊ 0⤋
pennies bug me so i try to get rid of them as soon as i get them
2007-01-24 14:02:49 · answer #3 · answered by maryanndertal 3 · 0⤊ 0⤋
no, but i will save them now
2007-01-24 14:03:57 · answer #4 · answered by lady sixx 6 · 0⤊ 0⤋
NO THANKS FOR THE HEADS UP
2007-01-24 14:02:36 · answer #5 · answered by Anonymous · 0⤊ 0⤋