Over at the Atlantic blogs, Kasia Cieplak-Mayr Von Baldegg reposted a Youtube video about the cost of the penny on the American treasury.
Did you know it costs the U.S. Mint about 1.8 cents to make one penny? This snappy YouTube video from C. G. P. Grey explains why pennies are bad for the economy and should be discontinued. What do you think?
Discussions of this sort always seem to come up when currency wonks have a free minute. The same sort of discussion has been circling for years regarding the increase in efficiency of the dollar coin instead of the dollar bill. Yet, for some reason, American consumers are mistrustful of anything other than a greenback.
Perhaps it has something to do with American nostalgia or simple disinterest, but the fact remains clear: as long as there is a $.99 burger, there will be a penny.