Sunday, July 18, 2010

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.

5 Comments:

Blogger darev2005 said...

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.

8:09 AM  
Blogger g said...

For too many years I've been in the quarter business.

Time to enter the hundred biz.

Thanks for the info.

10:26 AM  
Blogger The Guy Who Writes This said...

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.

5:23 AM  
Anonymous Anonymous said...

To find the real cost of money watch the zeitgeist addendum on youtube. Nuke the central banks and go back to barter systems.

5:25 PM  
Blogger The Guy Who Writes This said...

I do a fair amount of bartering and it seems to work just fine, though people often under value their services.

5:23 AM  

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