Yesterday toodling along in the car, I heard a report on the AM radio news that blew my mind. Something along the lines of:
"Due to the recent surge in the price of metals, the value of a single United States Nickel is now worth more than it's face value...the U.S. Federal Reserve is still minting Nickels even though it costs them 7% above and beyond the salable value, plus the cost to make them. Imagine a company that produced a product and sold it for $100. What if the cost of all the components that went into the product cost them $107, above and beyond the cost of manufacture?"
What in the world is this country doing losing money minting money??? Is that not totally ridiculous?
If you want to get the low down on the nickel that costs more to make than it is worth, visit this article.
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