Tuesday, October 27, 2009

Instead of creating NEW designs for our coin collectors... Let's save the money on minting and pay for healthcare for USa.










I am sure that a "penny here, and a nickel there" might make a significant difference in the cost of providing national healthcare.

1) Cost of Minting the coins.

2) Cost of Future Minting of coins.

3) Swedish Rounding would be captured as a NEW Healthcare TAX, collected when the purchase is rounded up from a nickel to a dime difference, and repaid to the citizen when it rounds down on the 4 cent mark.

4) Retailers can re-price accordingly and new software will stimulate the domestic market for programming updates.

How much?

Here is a guess: If we eat 40,000,000,000 hamburgers a year in the USA and buy 4.5 billion t-shirts as well, then we simply multiple 5 times 44.5 billion and divide by 100 = $2.23 billion.

Here is another guess: If we generate

You might need to do with educated guesses. Although retail stores keep record of their retail transactions, there is no national collective data that I know of. You may use info of how many credit card transactions as an input into making educated guesses, but there's also cash transactions and other types, so I would suggest the basic approach as follows:

let
a = Type of shop in North America where retail transactions happen
a0 = How many shops of type a are there in North America
a1 = How many transactions on average per week day are made in each of these shops
a2 = How many transactions on average per weekend day are made in each of these shops

Number of retail transactions that happen in a day (averaged over a week) in North America is thus:

a0*(a1+a2)/7 + b0*(b1+b2)/7 + c0*(c1+c2)/7 ...







WASHINGTON — The next time someone offers you a penny for your thoughts, you might want to take them up on it.
For the first time in U.S. history, the cost of manufacturing both a penny and a nickel is more than the 1-cent and 5-cent values of the coins themselves. Skyrocketing metals prices are behind the increase, the U.S. Mint said in a letter to members of Congress last week.

The Mint estimates it will cost 1.23 cents per penny and 5.73 cents per nickel this fiscal year, which ends Sept. 30. The cost of producing a penny has risen 27% in the last year, while nickel manufacturing costs have risen 19%.

BACKGROUND:A brief history of the penny

The estimates take into account rising metals prices as well as processing, labor and transportation costs. Based on current metals prices, the value of the metal in a nickel alone is a little more than 5 cents. The metal in a penny, however, is still worth less than a penny.

"Higher zinc, copper and nickel prices are raising the production costs of the nation's coinage," the Mint said in the letter, which it provided to USA TODAY Tuesday.

Metals prices have been soaring this year as a strong economy worldwide has led to an increase in demand. The prices of metals used in coins are all rising: Zinc is up 76% this year, copper is up 68%, and nickel is up 42%, according to the London Metal Exchange.

But consumers should not hoard coins or melt down the change in their kids' piggy banks, says Michael Helmar, an economist and metals analyst at Moody's Economy.com. He says the process of melting the coins, separating out the metals, then selling would be costly and time-consuming.

"If they were made out of gold, sure," he says. But "there are just too many other costs."

The Mint is one of the few government agencies that makes a profit.

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