Count Your Pennies While You May
We may be witnessing the twilight of the penny.
With public spending on an increasingly short leash, a chorus of economists are calling for the abolition of the one-cent coin as a way to trim government waste. Since it costs 1.7 cents to produce each one, keeping the coin in circulation is costing us $70 million dollars a year, enough to buy over a thousand shark submarines for the nation’s impoverished style bloggers. In other words, we’ll miss Lincoln, but we’ll get over it.
More importantly, it’s time to get a jump on nostalgia. A decade from now, you may look back on this as the golden age of small change.
- — Russell Brandom