GAO proposes eliminating $1 bill

myp

Site Founder
Jan 14, 2009
5,841
50
#3
I like paper money. I don't want to walk around with 10 or 15 dollars in coins in my pocket.
The way things are going, virtual money will probably be the ultimate replacement. But I agree in terms of carrying physical money- only as long as the paper money is still worth something though ;)
 
Mar 24, 2009
2,751
6
Undisclosed
#4
The way things are going, virtual money will probably be the ultimate replacement. But I agree in terms of carrying physical money- only as long as the paper money is still worth something though ;)
Most of my money is virtual now. Direct Deposit to my bank. Then I pay most of my bills on line. Since gas went up again today I can't be running around paying bills.

Wonder if I can live on virtual groceries?;)
 
Aug 4, 2010
862
0
#5
Jul 26, 2009
5,666
406
Opa Locka
#6
been meaning to write a blog on how much is lost on the $1 bill.... pennies for that matter

the special mintings are intended to reduce their supply in circulation
As I understand it, pennies cost 2.5 cents each to make (they're only worth 1 cent...). Seems a bit pointless to me.
 

myp

Site Founder
Jan 14, 2009
5,841
50
#8
As I understand it, pennies cost 2.5 cents each to make (they're only worth 1 cent...). Seems a bit pointless to me.
Much like how the metal in nickel is worth 6+ cents if I remember correctly

Sounds like something only the government would do.:(
They might be off the hook on this one as originally this wasn't the case. It's just that they've inflated the currency so much that 1 cent/5cents is worth so much less than it used to.
 

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