Thursday, February 16th, 2012
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The Problem with Pennies, From 'The End Of Money'

If pennies and nickels are largely useless, why does the U.S. Mint continue to manufacture them? In this excerpt from The End of Money: Counterfeiters, Preachers, Techies, Dreamers—and the Coming Cashless Society, out this week, David Wolman investigates why eliminating the penny is problematic.

In the Victorian ballroom of the Charing Cross Hotel in London, the thirteenth annual Digital Money Forum is wrapping up with a session of free beer and wine. Beneath brass chandeliers, people from the worlds of banking, telecom, academia, and international development have absorbed an entire weekend’s worth of talk about money in the form of bits and bytes, and tomorrow’s technologies for handling [...]

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