Why the US keeps minting coins people hate and won’t use
10th August 2010
Perhaps because the government is run by stupid people who think they’re smarter than the people who pay their salaries? That’s just a guess, of course.
In hidden vaults across the country, the US government is building a stockpile of $1 coins. The hoard has topped $1.1bn – imagine a stack of coins reaching almost seven times higher than the International Space Station – and the piles have grown so large the US Federal Reserve is running out of storage space.
Americans won’t use the coins, preferring $1 notes. But the US keeps minting them anyway, and the Fed estimates it already has enough $1 coins to last the next 10 years.
August 11th, 2010 at 11:20
Equally funny is that they haven’t figured out that if they make only a few coins for a year or two, the coins would be worth a lot of money to collectors, thus generating revenue. Not the way bureauocracy works, and especially not the way it works in Obamaland.