Thursday, December 14, 2006

What CAN you do?

I am not sure, but I now know what you can not do. Apparently, you can not melt that jar full of coinage that you keep in your room. The U.S. Mint has implemented a law against melting down pennies and nickels which, at current metal prices, could be worth more as metal than as currency. I think this is ridiculous. Does this speak volumes about our economy? I don't think so. It is ironic though.

The government will slap fines of up to $10,000, or imprisonment of up to five years, or both, against violators.

"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. Replacing these coins would be an enormous cost to taxpayers."


I didn't know this was big business. They make it sound like the owners of Coinstar machines are turning the coins around in a metal foundry somewhere. A penny and nickle chop shop. What a ridiculous story.

The rule also bans the exportation of the coins, beyond traveling with $5 worth and shipping up to $100 for legitimate purposes. So, this means if you are planning to go abroad to buy drugs or prostitutes, you can not pay with US coinage. There goes my winter vacation plans!

4 comments:

JC said...

You are much more articulate than I am. I am jealous. I agree with you in all regards, but did not know how to express myself. I should go back to school.

Anonymous said...

was it the excessive use of the F word?

Anonymous said...

i like the f word

JC said...

That's the icing on the cake.