Political Quotes

“just in closing I thought I would reference back to what I said in the opening, and that is that this particular program which is known as the 50 State Quarter Program, has made a profit, if you want to call it that, through what we call seigniorage of about $6 billion for the Federal Government. How can that be? It is fairly simple: it costs about a nickel to make a quarter, and we essentially sell the quarters, if you will, for 25 cents; and that amount of money, that extra money is carried over, that 20 cents. And since none of these coins are being basically turned in because of all the collecting which is going on, this is money which the Federal Government can spend, it is called seigniorage, and it has worked out extraordinarily well. This program not only honors and recognizes these very important entities that have been spoken to by their representatives here today, but also provides an opportunity for the Federal Government to continue to profit from this program, which will, by the end, end otherwise in the year 2008. So I would encourage everybody to vote for it.”