US Money Reserve “Is the Penny Worth Keeping?”
There has been a debate for many years as to whether we should keep the penny or do away with it. Philip Diehl, President of the U.S. Money Reserve has been a big advocate of getting rid of the penny and was recently on the show “Squawk Box” and was quoted as saying ” nobody uses the penny anymore and in fact it is not worth your effort to pick it up.” Several economists think it would distort prices and cause inflation to get rid of the penny. Philip Diehl also points out that for twenty five years this same discussion has been used and he feels that competition will help companies not raise prices.
Philip Diehl feels that very few transactions would be influenced by the removal of the penny because approximately only twenty-five percent are cash transactions and seventy-five percent are electronic and that businesses would round out prices to benefit customers. Some feel getting rid of the nickel is better as it costs 9.4 cents to manufacture, but others claim we can still change its elements and it will be profitable to manufacture. While others contend the penny will never be profitable but many feel it is protected by private investors of zinc and the makers of coin blanks.
U. S. Money Reserve was founded in 2001,by gold market veterans who saw a need for customer service, knowledge of the market and reliable guidance when buying precious metals. It also is one of the largest, nation wide sellers of Government issued Gold, Silver and Platinum coins and continues to provide exceptional service. When working with U. S. Money Reserve you are working with executives with decades of knowledge and details regarding purchasing U. S. Government issued coins that are fully backed by the U. S. Government and they have shipped their clients more than two million coins. They have hundreds of thousands of clients whose complete satisfaction is the companies top priority and have access to the best coins in the market. U. S. Money Reserve is also very involved in the community and has been a big contributor to the Austin Texas Operation Blue Santa with toys and food to families in need.
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