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This proves that the IRS does have a sense of humor.

At the beginning of the week checking my mail, I found a letter from the IRS explaining my government stimulas check was on its way. Also in the box was another envelope that obviously contained a check from the IRS. That is to say the window showed something multi-colored inside, from our famed tax agency. With relief and joy, I opened it up. I really do need that cash now.

Imagine my stunned disappointment at finding a check for a whole $1.70. They said I overpaid. For a second, I wondered if the Chinese decided not to underwrite my check.

Reading the rest of the letter about the stimulas payment, I am told it should arrive by the 27th (it didn't), and that if it doesn't arrive by 6 weeks after that date I should call and ask them why.

Why isn't this on direct deposit? I was ignorant of the fact that it was an option. Six weeks. Not that I was going to spend the money anyway, but that can be a lot right now with the declining dollar and inflation.

I hear, though, that pennies and nickels are worth much more in metal than they are worth in currency now.


(I realize the link is old, but commodity prices have continued to skyrocket since then.)

A penny is worth 1.7 cents in metal, maybe more. Nickels are worth almost 10 cents in metal, and maybe more. That's right. Microwave all those worthless pennies and nickels you've been accumulating for years into metal ingots or sell them to a "collector" and you could make a profit. It's also highly illegal, and Uncle Sam might have a long sentence for you. In no way am I saying anyone should do this. I'm thinking, though, that in a bad economy, it won't make a difference, as people do what they can to get by. Already banks have had the trouble with burglars breaking into empty, foreclosed homes and ripping out all of the pipes and wiring. And the home is sometimes worth less than copper pipes and wiring in it. One solution might be to rent to the persons who have been foreclosed, just to keep the home occupied.

Commodity prices probably won't stay this high, but in this economy, those jars of useless pennies in the back of your cabinet begin to look like the best investment you've ever made. People are going to be hoarding pennys, if they aren't already.

With pennys surging and the dollar declining, maybe the days of paying for a provider session in pennies and nickels won't be that far off.

Blog posted 06/29/2008 @ 12:42 pm  |  2 Comments  |  Leave a Comment



Outback MO

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