4 ms·

Samsung Pays Apple $1 Billion Sending 30 Trucks Full of 5 Cents Coins

14 points by nicolasd 14y ago

ceejayoz 14y ago
That's some painfully unfunny satire.
RockyMcNuts 14y ago
Hoax from 9gag, apparently http://daily.bhaskar.com/article/SCT-NEWS-rumors-saying-samsung-pays-apple-1-billion-in-30-trucks-full-of-5-cents-coins-is-a-hoax-371.html http://daily.bhaskar.com/article/SCT-NEWS-rumors-saying-sams... The logistics of paying in nickels are challenging...Would have to ask a bank or the Fed for them, send trucks to load them up...not happening. Samsung probably not writing a check yet, will appeal and no doubt the amount will be reduced, or they'll agree to long-term licensing.
jtokoph 14y ago
As a nickel expert, it would actually take more than 120 average semi truck trailers full of nickels to pay off $1 billion.
slantyyz 14y ago
Dunno about the US, but in Canada (http://laws-lois.justice.gc.ca/eng/acts/C-52/page-1.html#h-5 http://laws-lois.justice.gc.ca/eng/acts/C-52/page-1.html#h-5), a truckload of coins on their own would not be considered legal tender. For nickels, the most you can give is $5.
- jack-r-abbit 14y ago
  That is pretty smart. It allows people to refuse being paid in some crazy way like this.
Skiptar 14y ago
"Source: Internet" I found this the only funny part of the article.
ahi 14y ago
86.64 million nickels were produced in 2009[1]. This stunt would take 230.84 years of nickel production to pull off. http://visualeconomics.creditloan.com/the-value-of-united-states-currency-in-circulation/ http://visualeconomics.creditloan.com/the-value-of-united-st...
- slantyyz 14y ago
  The facts about nickels in this thread are even more interesting the the hoax itself.
- RockyMcNuts 14y ago
  2009 was a low year for nickels, 1.2b coins is more typical http://en.wikipedia.org/wiki/United_States_Mint_coin_production http://en.wikipedia.org/wiki/United_States_Mint_coin_product... Still if coins stayed in circulation 20 years, $1b is same order of magnitude as all the nickels in circulation. If anything, $3-4 in nickels per American seems on the high side, unless there are a lot of full coin jars.
peterhi 14y ago
So Samsung looked down the back of the sofa and found 20 billion nickels! Ha Just how much would 20 billion nickels weight?
rsanchez1 14y ago
This can't be true.

14 points by nicolasd 14y ago

That's some painfully unfunny satire.

Hoax from 9gag, apparently http://daily.bhaskar.com/article/SCT-NEWS-rumors-saying-samsung-pays-apple-1-billion-in-30-trucks-full-of-5-cents-coins-is-a-hoax-371.html http://daily.bhaskar.com/article/SCT-NEWS-rumors-saying-sams... The logistics of paying in nickels are challenging...Would have to ask a bank or the Fed for them, send trucks to load them up...not happening. Samsung probably not writing a check yet, will appeal and no doubt the amount will be reduced, or they'll agree to long-term licensing.

jtokoph 14y ago

As a nickel expert, it would actually take more than 120 average semi truck trailers full of nickels to pay off $1 billion.

slantyyz 14y ago

Dunno about the US, but in Canada (http://laws-lois.justice.gc.ca/eng/acts/C-52/page-1.html#h-5 http://laws-lois.justice.gc.ca/eng/acts/C-52/page-1.html#h-5), a truckload of coins on their own would not be considered legal tender. For nickels, the most you can give is $5.

jack-r-abbit 14y ago
That is pretty smart. It allows people to refuse being paid in some crazy way like this.

Skiptar 14y ago

"Source: Internet" I found this the only funny part of the article.

ahi 14y ago

86.64 million nickels were produced in 2009[1]. This stunt would take 230.84 years of nickel production to pull off. http://visualeconomics.creditloan.com/the-value-of-united-states-currency-in-circulation/ http://visualeconomics.creditloan.com/the-value-of-united-st...

slantyyz 14y ago
The facts about nickels in this thread are even more interesting the the hoax itself.
RockyMcNuts 14y ago
2009 was a low year for nickels, 1.2b coins is more typical http://en.wikipedia.org/wiki/United_States_Mint_coin_production http://en.wikipedia.org/wiki/United_States_Mint_coin_product... Still if coins stayed in circulation 20 years, $1b is same order of magnitude as all the nickels in circulation. If anything, $3-4 in nickels per American seems on the high side, unless there are a lot of full coin jars.

peterhi 14y ago

So Samsung looked down the back of the sofa and found 20 billion nickels! Ha Just how much would 20 billion nickels weight?

rsanchez1 14y ago

This can't be true.