Covid might finally kill off something that's long been on death row: the penny. Virtually worthless yet relatively expensive to make, the 1c coin complicates an ongoing coin shortage and production needs to be switched to more valuable denominations.
It costs the U.S. government about 2 cents to produce every penny. Pennies aren't even worth our time. Wake Forest University economist Robert Whaples has calculated that the typical American worker earns a penny every two seconds. It takes most of us more than two seconds to fumble around with change or pick a penny off the ground, which explains why there are so many pennies on the ground. Money is supposed to be the medium of exchange, not dead weight.
Canada murdered its penny a few years ago. Britain recently decided not to officially kill its penny, but is no longer minting new ones.
COVID-19 has led to a coin shortage for businesses as customers are going cashless to avoid touching anything. To help bring more coins into circulation, Wisconsin's Community State Bank is offering a $5 bonus for every $100 in coins you turn in. The maximum bonus is $500. (As comparison, Coinstar takes 11.9% of the money […]
Next year, the United States Mint will release a silver dollar coin commemorating astronaut and elementary school teacher Christa McAuliffe who died with her six crewmates when the Space Shuttle Challenger exploded after liftoff on January 28, 1986. The candidate coin designs (below) were presented to the Citizens Coinage Advisory Committee (CCAC) and the group's […]
In Cincinnati, Ohio, the U.S. Customs and Border Protection intercepted more than $250,000 in counterfeit US bills on its way from Shenzhen, China to Guthrie, Oklahoma. From Fox19: The money, which was not washed or bleached, was printed from a high-end printer on regular paper. Officers say the currency number was the same for every […]
Even as the world takes tentative steps toward reopening against the ebbs and flows of COVID-19, movie theaters remain in a netherworld limbo. High-profile film releases continue shuffling as theater chains, studios and filmgoers grapple with the fact that an enclosed theater may not be a safe place to be for some time to come. […]
The year 2020 has basically kicked down that door and dragged us all into the Zoom age, whether we like it or not. And now that we're basically inviting our boss, co-workers and other business associates into our homes via video, we've unwittingly stumbled into all kinds of new potential for embarrassment. Like when you're […]
One million Americans use American Sign Language as their primary means of communication. But as you'd expect, even though ASL is the sixth-most used language in the US, it isn't just any old language like English or Spanish or French. According to Communication Service for the Deaf, 98 percent of Deaf people don't receive education […]