In which John Green discusses his virulent hatred for pennies and nickels, two utterly irrelevant coins that inexplicably remain money in the United States of America. It costs more than 1.7 cents to make a 1 cent penny coin in the US; nickels are even more ridiculous, costing more than nine cents to produce.
UPDATE: Those statistics are out of date. In 2009, it cost 1.6 cents to make a penny and 6.1 cents to make a nickel; the US Mint lost 22 million on penny and nickel production, not the 70 million they lost in 2008. (This is because the recession has made zinc and nickel cheaper.) Thank to youtuber http://www.youtube.com/sivartis for the correction.
My inflation calculations came from the CPI inflation calculator: http://data.bls.gov/cgi-bin/cpicalc.pl
Information about the opportunity cost implications of pennies and the calculations of lost productivity can be found here: http://www.washingtonpost.com/wp-dyn/content/article/2006/09/24/AR2006092400946.html and here: http://www.consumeraffairs.com/news04/2006/07/penny_sense.html
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