The Price of Money
Somehow Newsweek magazine is showing up in my mailbox every week. I didn’t subscribe to it and I haven’t received an invoice for it. I can’t think of anyone that would have subscribed to it in my behalf. I have to say it isn’t bad. It is concise and offers more news than advertising. It isn’t stuffed with crap and non news like Time.
There was a cool article in this weeks’ edition on how much it cost to produce all the denominations of money currently in circulation. Here is the list:
A penny cost 1.5 cents to produce.
A nickel costs 6 cents (because of the high copper content).
A dime costs 6 cents to produce.
A quarter cost 30 cents to produce.
A dollar coin costs 30 cents to produce.
A dollar bill costs 5 cents to produce.
A five dollar bill costs 8 cents to produce.
A ten dollar bill costs 8 cents to produce.
A twenty and the fifty dollar bills each cost 9 cents to produce.
The one-hundred dollar bill costs 11 cents to produce.
posted by The Guy Who Writes This at 4:00 AM
5 Comments:
Hmmm.... I was going to start printing my own Land of Revtopia money. Guess I'll have to see if I can get a discount at Office Max. Instead of gold, my money will be backed by pounds of sawdust in the shop and the amount of dog poop in my yard.
For too many years I've been in the quarter business.
Time to enter the hundred biz.
Thanks for the info.
Darev, sounds a lot like the Federal Reserve to me.
g, think of the profit in reprinting the $1,000 bill. You could reintroduce them into circulation.
To find the real cost of money watch the zeitgeist addendum on youtube. Nuke the central banks and go back to barter systems.
I do a fair amount of bartering and it seems to work just fine, though people often under value their services.
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