Not even the price to make one.As of Tuesday, it costs about 1.26 cents to make a penny, according to the Associated Press. And based on current commodity prices, according to the Mint, It costs about 7.7 cents to make a nickel.
We Americans be known for our brains.
Consequently, how am I supposed to "make a dollar out of 15 cents?"
The reason for this stupefying dilemma is surging prices for copper, zinc and nickel. [AP]
So Congress is trying to bring back the steel-made pennies of World War II, and may be using steel for nickels, as well. It's estimated that striking the two coins at costs well above their face value set the Treasury and taxpayers back about $100 million last year alone. (That's right I just threw a statistic at you. Depending on the context, it could mean nothing. Spooky).
Simple solution: I say we just pitch pennies altogether (no, this is not an opinion I formed on my own). Who needs em'?
Obviously I've condensed a moderately complicated topic. If you want to try to make cents (ha!) of this issue, you could read this AP article.
Image via BusinessWeek.
P.S. Damn this penny posting. I have nothing but ads promoting currency? And cheap gold? And WTF is a wheat penny?
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