Appeared in MorningConsult CASH AS A DEFENSE TO CYBERTERRORISM Posted on January 13, 2020 As a result of the killing of Quds Force leader Qassem Soleimani, the United States faces a tangible threat that Iran may employ its cyberwarfare prowess in retaliation. A cyber response is especially worrisome, as Iran has previously demonstrated its ability Read more about Cash is a Defense to Cyberterrorism. Cash is convenient, private and free to use. Cash is also the safest payment method, which is why cash demand skyrockets during crises, be it man-made or a natural disaster. (MorningConsult)[…]

In testimony before a House Financial Services Subcommittee, Mint Director David Ryder reaffirmed the government’s position by saying, “it is not the intent of the Treasury Department to eliminate the penny.” Ryder went on to say that the Mint plans to create programs to increase the current recirculation of pennies and reduce costs. Ryder noted Read more about Mint Director Confirms Penny Support[…]

The high costs from eliminating the penny would dwarf any proposed savings according to a new economic study. Titled “The Economics of Eliminating or Retaining the U.S. Penny,” the study found eliminating the penny would cost Americans a whopping $909 million to $1.93 billion per year. The study was funded by the coin cashing service Read more about Economic Study Supports Penny’s Value[…]

Currency reform is often promoted as a way to save taxpayers money. Unfortunately, the proposed solution of The Currency Optimization, Innovation, and National Savings (COINS) Act of 2017, misses the mark completely and would move the country in exactly the wrong direction. There is no argument that countries around the world are concerned about the Read more about A Closer Look Behind the Dollar Coin Legislation[…]

Data collected from Coinstar, whose coin-counting kiosks are used around the world, found there would be significant Mint cost increases without the US penny. Coinstar looked at their experience in Canada where the penny was eliminated in 2013 and found reduced “velocity” or frequency of coin recirculation. Two-thirds of all coins recirculated through the U.S. Read more about Canada Costs to Produce Coins Increases Without the Penny[…]

A collapse in metals prices means U.S. coins, including the penny, are less expensive to make. The penny has reached its lowest cost in seven years. Each 1-cent coin, made almost entirely of zinc, now costs the taxpayer much less to produce and its likely to stay that way for the foreseeable future. With global demand Read more about Collapse of the zinc market means the penny is cheaper to make; saves taxpayers![…]

Recent Poll Shows Increasing Penny Support and Concern About Price Increases If Penny Is Eliminated WASHINGTON–(BUSINESS WIRE)–A poll released today by Americans for Common Cents (ACC) continues to show overwhelming and increasing support for the penny by the American public. 68% of those surveyed favor keeping the penny in circulation, representing a slight increase since Read more about More than Two-Thirds of Americans Still Favor Keeping the Penny[…]