The End of the Dollar Bill? High Cotton Prices Could Force $1 Coin (via NewsFeed)

Makes sense..

It turns out $1 bills are worth less than the paper they're printed on. So-called "paper money" is composed of 75% cotton and 25% linen. This means that money printers are being badly hit by the global increase in cotton prices. In 2010, the cost of making one bill was 50% more than it had been in 2008. That's a hell of a leap for such a little piece of "paper". (More on TIME.com: See pictures of the dangerous history of printing money) Multiply … Read More

via NewsFeed

Advertisements

Leave a comment

Filed under Business

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s