Penny Cost More Than One Cent to Make!

For the first time in US history, it costs more to manufacture a penny and a nickel than the value of the coins themselves!

The Mint estimates it will cost 1.23 cents per penny and 5.73 cents per nickel this fiscal year, which ends Sept. 30. The cost of producing a penny has risen 27% in the last year, while nickel manufacturing costs have risen 19%.

Link (via Something of Interest, Thanks Jason!)

Newest 4

Newest 4 Comments

All coins need a redesign.
10 cent
25 cent
50 cent
1.00 coin

each should be bigger and thicker than the rest in order. See Austraila...
The $1 bill needs to go.
the penny needs to go.

We need a $2.50 bill instead.

Abusive comment hidden. (Show it anyway.)

take one... leave one.
pennies are obsolete.

Abusive comment hidden. (Show it anyway.)

The bigger story is that precious metals are up at the same time the dollar is down. Mostly this is due to our massive deficit.

This is probably one of those economic indicators that should alarm the right people.

Abusive comment hidden. (Show it anyway.)

Why don't we just stop making them? When I've traveled to England, I've noticed that their coins seem much older than ours. Some of the coins I received as change were even said "shillings", an obsolete form of currency. Couldn't we just back off on the manufacture of our coins and let the small Thomas Jefferson heads wear out a little more before we replace them?

Abusive comment hidden. (Show it anyway.)

Login to comment.

Click here to view up to the first 100 of this post's 4 comments