what is money

Why Is the Penny Going Away? The Coin That Cost 3.7 Cents to Make 1 Cent

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Why Is the Penny Going Away? The Coin That Cost 3.7 Cents to Make 1 Cent Why is the penny going away? Because of the single funniest number in American economics: last fiscal year, it cost the US Mint 3.69 cents to manufacture one penny. The government lost money on every single coin — and … Read more

What Is Money? Why a Piece of Paper Has Value

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What Is Money? Why a Piece of Paper Has Value What is money, really? Take a dollar bill out of your wallet and look at it. It is a rectangle of cotton and linen with ink on it. Objectively, it is nearly worthless as an object. You cannot eat it, wear it, or build with … Read more