Wednesday, October 13, 2010

WTF? - The New Penny

Have you seen the new penny yet? I found one in my change yesterday and had to double check that I had not been given a foreign coin. Well, it had Honest Abe on the front and I know he won't lie to me, but I was quite taken aback by the flip-side/posterior/reverse/tail of said currency unit.

It looks like a shield. The kind of shield given away for free in cereal boxes so that kids can pretend to be secret agents and shout, "Freeze - This is the Penny Police."

Freeze - It's the Penny Police
(the Copper Cops?)
I am kind of pissed at the US mint for spending so much money on money. In 2009 it cost 1.62 cents to make a single 1 cent coin compared to 0.80 cents per penny back in 2001. It seems strange that the people who make our money are not more careful about spending it.

I hear people suggesting that we abandon the penny since it is practically worthless, but they will be among the first to complain when their grocery bill is rounded up to the nearest nickel.

The increase in production cost is due to the rising cost of the raw materials: 2.5% copper and 97.5% zinc. President Obama is aware of this and has recently proposed a bill to change the composition of the penny to utilize a copper colored steel in order to reduce rising production costs.

Great plan Barack, lets make money magnetic so that thieves can steal it with a large, strategically placed electromagnet.
Ben Franklin now regrets inventing magnetism

1 comment :

Hank said...

Pretty sure this has been around for a while now. I think I saw my first new one a year or more ago.

The penny back looks like crap tbh, but so do the new license plates for Ohio. Just proves that beauty is in the eye of the beholder, even when the beholder is blind ! lol :)

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