Thursday, December 15, 2011

How does the US government account for all the money that comes from the mint?

With all the pennies under couches and change thrown into large water bottles, that money obviously is not circulating. How does it get accounted for in the big picture? Are we making more money because it circulates to other countries accepting the dollar, that we never get it back? Between the couch, the change collection and taking our USD to other countries, I can't fathom how we account for everything we've put into circulation.|||money lost in the couch or in coin collections is considered savings. The amount is rather minor overall.





It is easy to keep a production log sheet of every dollor issued. They have serial numbers so the machinery automatically keeps count. Banks also return old bills which are to be retired. Computers can either keep an accounting of this activity.|||They account for the fact that small change is lost all the time. They expect that a certain amount is lost or destroyed. They also know the average life span of each coin and bill. The banks return terribly damaged coins and bill to the treasury for destruction.

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