It costs 1.62 cents to produce 1 cent copper coin

Posted in:#money, #cents, #coins, #metal Date published 2011/01/16

Penny

Penny is made from 2.5% copper and 97.5% zinc and the price of those metals has gone up as of late. This is why the production expenses exceed the value of a penny. More shockingly is that this has been happening since 2006 and when director of the Mint tried to make the penny cheaper to manufacture, Congress shut that initiative down.

Many other countries have faced the same issue, but in most occasions they find way to cut unnecessary expenses (i.e. cheaper materials).

Source: Yahoo Finance

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