United States dollar
Why are Ecuadoreans obsessed with the $2 bill?
Journalist John Dennehy is obsessed with $2 bills — and so, it seems, are Ecuadoreans. While living in Ecuador, which officially uses the US dollar as its currency, Dennehy discovered that the bill is even rarer there than it is in the US, and it’s a prized good-luck charm to boot.
As Canada says goodbye to its penny, Americans ponder their own one cent piece
Starting this fall, Canada will stop making and distributing its pennies. Electronic transactions can still include prices in one-cent intervals, but cash transactions will be rounded up and down to the nearest five cents. It’s an effort to cut costs because the penny costs more to make than its worth.
Is Abe Lincoln Safe?
Today marks the last day the Royal Canadian Mint will distribute the penny, a coin that has been in production in Canada for more than 150 years. The sinking of the Canadian penny is a recognition of the reality that it costs of 1.6 cents to manufacture a penny, and that many people consider them more of a […]
Can We Survive Without the Penny?
Canada’s decision to stop producing its penny has launched a discussion in the U.S. In Canada, it costs 1.6 cents to produce a penny – so getting rid of the coin will save the country an estimated 11 million Canadian dollars a year. Meanwhile, in the United States it costs 2.4 cents to make a […]
Gold Hits All-Time High on Inflation Speculation
Wednesday, the price of gold hit an all-time high, costing buyers over $1450 per ounce. Part of the reason for the rise in price is a fear of inflation, uncertainty about the situation in the Middle East, and the weakness of the U.S. dollar and the Euro. But another factor driving up the price of […]