Pennies and nickels cost more to make than they're worth


#1

Thanks to rising metal prices, since 2006 the U.S. Mint has had to spend more money to produce and distribute nickels and pennies than the coins are actually worth.

How much more? About 1.7 cents to make a penny and 8 cents to make a nickel, according to a new report from the U.S. Government Accountability Office.

That in turn has reduced the overall profits the federal government realizes from making and circulating new coins in the economy.

cnn.it/1Q1pZlT


#2

At minimum, it is high time to discontinue the penny, if not the nickel. When we did away with the half-penny, its worth was greater than either. ($0.14).

We could adopt a standard of dollar and tenths, opt for a dime and half dollar. A coke might cost $1.4, for example.


#3

I’ll bet wooden nickels are very cheap to make. :slight_smile:


#4

Yes, can we please be done with that quarter imposter, the nickel? Blech.
:wink:


#5

If everyone (me included :blush:) would just put those containers full of change sitting around our houses back in circulation, we wouldn’t need to mint so many new ones.

forums.catholic.com/attachment.php?attachmentid=22770&stc=1&d=1452603347


#6

That’s so true. People collect pennies.


#7

This is very sad. My first winning financial transaction was to convince my little sister that I would trade my great big nickel for her little dime. Then our dad found out,:o

We are headed for a cashless society anyway. There are very few times in the last 20 years I have paid for anything with cash. I even bought my first ever lottery ticket on Friday with a credit card. I will buy another one today or tomorrow. If I win, I will let you know. With $1.4 billion I could buy a whole new class of friends.:cool:

Another way to join the cashless society is to get divorced, but I do not recommend it.:cool:


#8

Strangely, I came across a fake penny about a week ago, I thought it looked odd at first glance, then took a closer look, the copper color had rubbed off in some areas, but otherwise looked identical to the real penny, I showed it to a bank teller and she said it was definitely a fake.

Who makes fake pennies?


#9

After taxes, depending on where you live, you may only be pocketing a mere $350Million.


#10

They come in children’s games. Like in a Barbie cash register.


#11

I save those pennies to use for pressed pennies.

I have like $100 in state quarters.

I still pay for some things with real cash.


#12

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