I was reading the Terry Pratchett Book 'Making Money' when one of the character's asked the boss of the Mint how much it cost to make the coins which turned out to be each cost more than the face value of the coin which got me thinking, how much does it cost to make our British money?
The Royal Mint was no use as it gave a sniffy response of: 'The Royal Mint does not reveal exactly how much it costs to make specific coins as such information could be used to its competitors advantage' but i do vaguely remember reading or hearing somewhere that the Government planned to stop making 1p and 2p coins as it costs more than that to make them.
In the Isle of Man who mint their own money and who are not so sniffy about telling us, it cost 20p to make a 5p coin so i assume it is around the same cost to the UK Mint so i expect that will go the same way in the near future but it does play into the idea of a cashless society.
I for one hardly ever pay with cash anymore, it is always my card that comes out my purse and it is not just me, apparently only 1 in 5 transactions were used with cash last year and has been in decline for the last decade so there is generally less need for cash today.
More than 7,000 cash-points have been shut down across the country since 2020 yet at the end of last year there were still more than £81 billion worth of banknotes in circulation according to the Bank of England which is up from £70 billion at the end of the previous year which does me make me wonder if people are spending less of it, what is it being used for?
Wednesday, 5 February 2025
Making Money
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15 comments:
the deciding factor is not usually the cost of making the coins, but instead is the value of the minerals in the coins.
today, an ounce of silver is valued at about $32US. so, if we still minted "silver dollars" in the US, the silver dollar would be worth 32X more by melting it down and selling it for its mineral value rather than the 1$US face value.
copper is another mineral that is worth more as a mineral than in a coin. thus, US coins are made of things like nickle, tin, etc.
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we (wife, daughters, friends, me) also rarely use cash, and coins are useless. coins made sense when 17 pennies (or 2 dimes) would by a gallon of gasoline. now you need 350 pennies to buy a gallon of gasoline.
everything should be rounded to nearest dollar.
however, we do need cash still. there are approx 30 million people living in the US illegally. they cannot open a bank account, so they need cash or "cash cards".
and there are times (once or twice every two or three years) when the "network" is down and cash is the only way to transact.
shame on you for making "The War Criminal And The Sex Offender" rant a no comment rant.
for the record, egypt, syria, jordan, iraq, yemen, morocco, saudi arabia, and sudan helped Israel with their ALLEGED 70 year effort, when on the first day of the un mandate (not even the arabs that seem to love the un so much today cared what the un did - aka the un has been feckless since day one) they entered the "palestine mandate" in an effort to prevent the establishment of Israel.
of course, they had the asses handed to them and Israel grew geographically.
150,000 arabs remained in Israel and became citizens. 700,000 arabs fled.
the same feckless un admitted Israel as a nation in 1949. almost 20 years later, 1966, egypt (nassar) still refused to recognize Israel as a legitimate nation.
in 1967, egypt massed its army on Israeli borders and expelled feckless un peacekeepers. jordan, syria, and iraq joined forces with egypt but all lost their asses once again in the "6 day war". This war once again helped Israel with their ALLEGED 70 year plan with Israel taking all of the Gaza Strip, Golan Heights, the West Bank, and the Sinai Penninsula.
in 1977, egypt finally recognized Israel as a nation - after having the asses kicked on many occasions by the Israelis. at this time, Israel returned the Sinai, won in a defensive battle, to egypt.
in 1978, the plo launched attacks out of lebanon (the next to get an Israeli ass whupping). so, lebanon was the next to help Israel expand toward their ALLEGED 70 year old plan...
in 1980, 13 years after taking the Golan Heights in a defensive war, Israel annexed the Heights. the feckless un said, "no" but nobody cared...
in 1986, Israel withdrew from southern lebanon, but maintained a buffer zone - which kinda goes against the ALLEGED 70 year plan.
in 1992, Israel agreed to let the pna govern the Gaza Strip - which kinda goes against this ALLEGED 70 year plan.
in 1999, Israel withdrew forces from southern Lebanon and conducted negotiations with Arafat and Clinton at Camp David. Israel offered a plan for the establishment of a Palestinian state, including all of the Gaza Strip and over 90% of the West Bank with Jerusalem as a shared capital - kinda goes against the ALLEGED 70 year old plan.
in 2001, Israel voluntarily withdrew forces from the Gaza Strip - kinda goes against the ALLEGED 70 year old plan.
in 2006, hamas (terrorist organization) was elected to administer the Gaza Strip. during their reign as administrators, hamas (with the knowledge of the people living in the Gaza Strip - aka "palestinians") setup hospitals, schools, and places of worship as military bases, military outposts, and rocket launch sites - connected by tunnels.
the facts kinda 100% undermine your opening position...
also, trump is not the US. trump is the president for 4 years. if the US signs up to administer the Gaza Strip, it can hardly do worse than the uk did under the "Palestinian Mandate".
I have explained numerous times I don’t make it no comment, wouldn’t know how to, Blogger does. If you still fail to understand why despite me explaining why then that’s your look out.
dodge
Problem reading and understanding? Explains much.
nope, also no problem recognizing disinformation
finally got this fixed... here is a link to my "blog". i copied your post title and body and google didn't block "commenting"...
https://felononabruise.blogspot.com/
Tell Blogger not me, they have been ‘looking into it’ for quite a while. At least nobody will think you wrote that, it has Capital letters and everything.
nobody will believe i wrote it because it is bunk - aka tripe
Mainly though because it has Capital letters and everything.
that is my new style now that i'm retired...
so funny. you are anti-establishment-lucyp... until it comes to grammar, then you are 1939-frau-lucpy
Just happens that your ‘new style’ is exactly the same as those people who try to hide their lack of grammar. Just an amazing coincidence obviously.
whatever. you saw thousands of my posts and comments with "proper" grammar. you simply elect to ignore the facts... not surprising for a professional journo
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