According to an article in one of my favorite magazines, (Spirit Magazine):
A penny costs 1.8 cents to produce…
A nickel cost 9.2 cents to produce…
Please help me…
What am I missing here?
- Should we figure out a cheaper way to make pennies and nickels?
- Should we remove them from our economy?
- Should we get them produced in China? (I’m joking about that one.)
(I’ll never forget making a friend in Brazil during one of my many mission trips there. He worked in a factory that employed hundreds of people. Their product? They manufactured credit cards to be used in the United States.)
More difficult question:
Is this representative of things we sometimes do in churches?
See the complete article in Southwest’s Spirit Magazine HERE.
I feel we can do way with pennies and nickels. I think that would be a better option
Do you have such coins in your country?
Yup! We have 25 paise coin and 50 paise coins apart fromthe rupee denominations. Government of India is considering revokingthose two paise. Isee similar situation in USA too. Thanks Ron! <DIV> From: [email protected]: [email protected]: ronedmondson replied to your comment on What Am I Missing Here?
Ron, here's a great (and entertaining) video explaining the current debacle that is the United States penny:
http://youtu.be/77C47XYm_3c
I say, kill the penny!
Thanks for sharing!
I'm glad he answered first also; I was thinking of cost based programs that didn't work because they WERE cost based. Nuts!
I agree
Whew! I'm glad Scott answered first. My little Activity Based Costing presentation would have been inappropriate, eh? 🙂
Ha! Share it.
Okay, lets give it a try:
Refined materials + machinery depreciation + labor + cost of culled materials (refined/scrap) + factory overhead + other materials + fuel + indirect costs (acct. etc.) + shipping (fuel, veh. deprec., labor, supplies) divided by the number of usable coins produced.
I like math!
time to get rid of them or get them produced somewhere else for cheaper… Then again, might not be a good idea to export/import US currency. 🙂
Yea, I'm thinking we come up with something different or get rid of them altogether…but no exporting! In churches…there are some programs it may be time to consider likewise