I just found out that it costs more than a cent to manufacture a penny . Specifically , it costs 1.62 penny to produce that 1 centime copper coin . And that ’s been the case for a while now ! What the hell ?
Why ’s it cost so much ? Apparently , the penny is made from 2.5 % copper and 97.5 % zinc and those metals have give out up in price as of late . In fact , if you could melt the coin , you ’d have materials totaling 1.62 cents — more than the centime that paltry centime is worth . That ’s crazy ! What ’s crazier is that it ’s been that path since 2006 . Are n’t utilitarian thing imagine to be enceinte than the sum of its parts ? Should n’t they have changed the metallic element mixture to something cheaper by now ?
Apparently , the director of the Mint seek to make the penny cheaper to manufacture but Congress shut that initiative down . As it currently stand , the Treasury boss can “ recommend changes in metal content or in the amount of coin get ” but only Congress can make the final decision .
So perchance it ’ll finally become deserving the money to make ! Though really , I see this loss in manufacturing would make for a good rationality to belt down off the penny ( I mean , who likes pennies ? ) . But with former school Congress name the shots , I doubt that ’d ever bechance — no matter how useless and expensive cent become . [ Yahoo Finance ]
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