Is This the Death of the American Penny? ...Middle East

Via SchiffGold.com, It’s no surprise to readers of this site that metals are often worth more than fiat currency. Gold, silver, and other precious metals are known for their value. But sometimes fiat currency can’t even compete with zinc. The US penny, which is primarily made of zinc, costs roughly three cents to produce and is only worth one cent according to the federal government. This is the opposite of what has happened historically. Generally, governments produce currency that is worth far more than the cost of producing it. Imagine…

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