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12/30/2012 Making a Mint?
Just as the old year was about to come to a close, the most damaging report in regards to fiscal accountability within the US was released just moments ago. In a report the US mint, has publicly released actual coin production amounts, which are way off the mark of the original estimates. Pennies (cents per the mint's definition), Nickels, Quarters, saw slightly than higher estimates. The dollar coin's production actually was lower than the estimate. Thanks to machine malfunctioning at the Philadelphia Mint, dimes were produced at a rate of 100 to the 1 original estimate. Richard Peterson, director of the mint, has publicly acknowledged this crisis, and there is currently major talk of suspending dime production for the next decade at least. Political analysts, have been looking over this situation and feel, that this will have more of an impact than even the fever of the recent fiscal cliff. This story beckons, the time in 1964, when over 3 billion nickels were made. The dime is one of the few coins that the mint is able to make, and still sell it for over the production and material cost. If this situation would have been cents, or nickels, it could have cost tax-payers in excess of nearly half a trillion dollars.