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Wednesday, November 6th, 2013SUGGEST NEWS

Samsung pays Apple $1 Billion sending 30 trucks full of 5 cent coins
Posted by: Nebuchadnezzar on November 6th, 2013 @ 1:03PM

Awesome if true.

This morning more than 30 trucks filled with 5-cent coins arrived at Appleā€™s headquarters in California. Initially, the security company that protects the facility said the trucks were in the wrong place, but minutes later, Tim Cook (Apple CEO) received a call from Samsung CEO explaining that they will pay $1 billion dollars for the fine recently ruled against the South Korean company in this way.


It is fake. Taken from Snopes.

To pay off a billion dollars in nickels would require 20 billion of those coins. That amount would require Samsung to obtain the equivalent of all the nickels struck by the U.S. Mint in the last several decades. (In 2011, for example, the U.S. Mint produced less than one billion nickels, and 2010 less than half a billion.) Samsung would have to round up virtually every nickel in circulation to acquire over $1 billion worth of those coins, a feat that could hardly be accomplished without having a significant impact on the U.S. monetary system.

A single nickel weights 5 grams (about .011 pounds), so a billion dollars' worth of nickels would weigh in at about 110,000 tons. That load would far exceed the carrying capacity of 30 or so trucks (requiring each truck to carry over 3,600 tons, or more than 7.2 million lbs. each). The equivalent of about 2,755 eighteen-wheeler trucks, each hauling 40 tons' worth of nickels, would be needed to transport the weight of that many coins. (And that calculation doesn't take into account the volume of physical space needed to assemble, transport, and store 20 billion nickels.)

supervillain
- 2013-11-06 18:04:27

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supervillain
Marine

November 6th, 2013 @ 6:04PM

Registered:
2003-03-25
Location:
socal
Posts: 200
It is fake. Taken from Snopes.

To pay off a billion dollars in nickels would require 20 billion of those coins. That amount would require Samsung to obtain the equivalent of all the nickels struck by the U.S. Mint in the last several decades. (In 2011, for example, the U.S. Mint produced less than one billion nickels, and 2010 less than half a billion.) Samsung would have to round up virtually every nickel in circulation to acquire over $1 billion worth of those coins, a feat that could hardly be accomplished without having a significant impact on the U.S. monetary system.

A single nickel weights 5 grams (about .011 pounds), so a billion dollars' worth of nickels would weigh in at about 110,000 tons. That load would far exceed the carrying capacity of 30 or so trucks (requiring each truck to carry over 3,600 tons, or more than 7.2 million lbs. each). The equivalent of about 2,755 eighteen-wheeler trucks, each hauling 40 tons' worth of nickels, would be needed to transport the weight of that many coins. (And that calculation doesn't take into account the volume of physical space needed to assemble, transport, and store 20 billion nickels.)


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