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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.95+0.8%Jan 9 4:00 PM EST
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To: goldsheet who wrote (69554)5/19/2001 5:55:11 PM
From: Alex  Read Replies (1) of 116846
 
For the coin collector..........

WHISPER OF THE DAY
A 'nickel' for your thoughts
Anyone too lazy to bend down to pick up loose pennies may finally be getting an excuse: Congress is considering ending penny usage. It's part of a currency modernization bid by Arizona Rep. Jim Kolbe, an advocate of eliminating both our copper friend and the $1 bill. "Every other country in the world has changed their lowest denominated currency or coin by now," he says. "We're just behind the times." Kolbe's plan would bar purchases with more than 25 pennies and end the penny's use in prices, to be rounded up or down to the nearest nickel. He'd also boost production of the $2 bill. Naturally, penny and dollar fans are boilin'. Kolbe's just shilling for allies, they charge, in the vending-machine business and those that make $1 coins. Not so, the Arizonan replies, adding that opponents are in the pocket of "paper and ink" makers. Opponents also say the $2 bill proposal would end the $1 bill and boost use of the $1 coin, a Kolbe favorite that fits nicely in soda machines. Finally, foes say it would rob charities of pennies they collect in store jars. To which Kolbe retorts: "Well, maybe they'll put their nickels in."

usnews.com
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