Here's something you might be interested in.
Ask a Hipster — Advice you didn't know you needed
Big Screen — Movie commentary
Blurt — Music's inside track
Booze News — San Diego spirits
Classical Music — Immortal beauty
Classifieds — Free and easy
Cover Stories — Front-page features
Drinks All Around — Bartenders' drink recipes
Excerpts — Literary and spiritual excerpts
Feast! — Food & drink reviews
Feature Stories — Local news & stories
Fishing Report — What’s getting hooked from ship and shore
From the Archives — Spotlight on the past
Golden Dreams — Talk of the town
The Gonzo Report — Making the musical scene, or at least reporting from it
Letters — Our inbox
Movies@Home — Local movie buffs share favorites
Movie Reviews — Our critics' picks and pans
Musician Interviews — Up close with local artists
Neighborhood News from Stringers — Hyperlocal news
News Ticker — News & politics
Obermeyer — San Diego politics illustrated
Outdoors — Weekly changes in flora and fauna
Overheard in San Diego — Eavesdropping illustrated
Poetry — The old and the new
Reader Travel — Travel section built by travelers
Reading — The hunt for intellectuals
Roam-O-Rama — SoCal's best hiking/biking trails
San Diego Beer — Inside San Diego suds
SD on the QT — Almost factual news
Sheep and Goats — Places of worship
Special Issues — The best of
Street Style — San Diego streets have style
Surf Diego — Real stories from those braving the waves
Theater — On stage in San Diego this week
Tin Fork — Silver spoon alternative
Under the Radar — Matt Potter's undercover work
Unforgettable — Long-ago San Diego
Unreal Estate — San Diego's priciest pads
Your Week — Daily event picks
How does the Mint make a profit?
Hey, Matt:
Recently the daily paper published a letter from the director of the U.S. Mint defending the issuance of the so-called "Golden Dollars." He indicated that the Mint generated a profit of $800,000,000 (that's 800 million!!) due to the issuance of the G.D. My question is: How does the Mint make a "profit"? I have been unable to get an answer from the Mint; probably too busy minting other unnecessary pocket-ripping coins.
-- Les Land, San Diego
The Mint always makes a profit on its coins. It costs less than a penny to make a penny and only 12 cents to make the Sacajawea dollar. But the Mint just manufactures coins; the Federal Reserve is the bureaucracy that distributes them to banks. The Mint sells coins to the Fed at face value. That 88-cent profit on every buck is officially known as seniorage. So when the Mint struck a billion Sacajaweas, they were suddenly rolling in dough. At least that's the way they figure it.
Here's something you might be interested in.
How does the Mint make a profit?
How does the Mint make a profit?
Hey, Matt:
Recently the daily paper published a letter from the director of the U.S. Mint defending the issuance of the so-called "Golden Dollars." He indicated that the Mint generated a profit of $800,000,000 (that's 800 million!!) due to the issuance of the G.D. My question is: How does the Mint make a "profit"? I have been unable to get an answer from the Mint; probably too busy minting other unnecessary pocket-ripping coins.
-- Les Land, San Diego
The Mint always makes a profit on its coins. It costs less than a penny to make a penny and only 12 cents to make the Sacajawea dollar. But the Mint just manufactures coins; the Federal Reserve is the bureaucracy that distributes them to banks. The Mint sells coins to the Fed at face value. That 88-cent profit on every buck is officially known as seniorage. So when the Mint struck a billion Sacajaweas, they were suddenly rolling in dough. At least that's the way they figure it.
Comments