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kpoltorak

kpoltorak

Joined
1/24/08
Messages
3
Points
11
With rising metal prices, the value of a penny is now about three cents; a nickel, nine cents. A great day for conspiracy theorists out there, its finally more sensible to keep your cash in a shoebox under your bed rather than in the bank. :D
 
There is a regulation from the US Treasury forbiding the export or melting of cents and nickels for their metal value because the current market price exceeds the monetary value of these coins.

The regulation authorizes a fine of not more than $10,000, or imprisonment of not more than five years, or both, against a person who knowingly violates the regulation. In addition, by law, any coins exported, melted, or treated in violation of the regulation shall be forfeited to the United States Government.
 
I remember seeing on 20/20 or some show the other night about the same issue. They interviewed a guy at MIT who calculated that if we eliminate the penny, we will save up to 10 billion a year on lost time.

On the other side of the coin, they say that it only costs 6 cents to make $1, $5, $10, $20, $50... bills. Penny is the most expensive to make value-wise.
 
Need advice

Hi andy,
I have an interview with the TAS (Transaction Advisory services) division ie M&A of Ernst & young.. I have no clue on what kind of questions I should be accepting.. it will be really nice if you could guide me on this ..if u have any idea about M&A.

Regards
Nihal
 
nihal said:
Hi andy,
I have an interview with the TAS (Transaction Advisory services) division ie M&A of Ernst & young.. I have no clue on what kind of questions I should be accepting.. it will be really nice if you could guide me on this ..if u have any idea about M&A.

Regards
Nihal
Click to expand...

Start a new thread you will probably get a better response and more views.
 
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