As of 2015, how much does it cost to produce a 1 US cent coin?
Correct answer: 1.67 cents
Player #271030
the pennies should be stopped if it costs more to make than its worth
KatsEye68
Maybe doing away with it would also eliminate those irritating "99"s on prices. Come on, we all know that $4.99 is just to make people think something is cheaper than it is. $4.99 = $5.00 already.
Player #903024
Player #271030, Canada has deleted penny's. rounding the total off makes sence.
Spaztic
Something sounds screwy about this! Can't help but feel the cost is padded with other fees: distribution, fabrication, overhead, etc. Hmm!?
GrandmaTanya
johnnyzoom7, As long as retailers price items as ?.99 and with sales tax, the penny will live on
Player Gigi #28446253
problem is no one spends them just throws them in a cup so they run out of them and have to keep making new ones
i liked the Lincoln Memorial best
RedFork2012
Genius,
In New Zealand, prices were added to total and only rounded up if they were 3 cents or more. If only 1 or 2 cents, rounded down. It doesn't take a genius...
MDinMD
During World War 2, the U.S. made pennies from steel instead of copper. My uncle, who was an Army MP guarding POWs being transported across the U.S., gave me several Steel pennies.
LurkingWarden2032
Player #271030, when i find one, all day long i have good luck
Player #36158505
Quit producing pennies and give us all a tax cut...but they would probably waste the millions on some study of how far a cricket can jump
Artie
I knew this because I am a lifelong numismatist. I remember when the penny was all copper. I believe that ended in 1982. I also remember when dimes, quarter, half and full dollar coin were almost all silver. They also changed to base metals.
sunnydays
Player Gigi #28446253, my favorite is the wheat back penny. I have some from the 1910's.
Nexus 6
Rounding up to the nearest dollar makes no cents.
Rupert
Player #271030,
Just outsource it like everything else. 😂
lesliehens02
Player #271030, did you read this? making the penny actually saves money by absorbing overhead costs
Player #92723922
RedFork2012,
It's "nickel".
Player #120374466
Player #903024, You mean it makes cents😁
Lionessa
Alpo, One. You could build one apartment complex of about 100 units for $55 million (in California). Real estate prices vary, but $55M isn't much for multi-family dwellings.
Lionessa
The steel pennies that were made during WWII are incredibly rare today (only 3 known), and are worth over $100,000 each. I had 2 when I was a kid...
joey
Mars V, when I was a kid in the 1950s they actually had penny candy, dots, blackjack and my favorite chum gum 2 sticks of gum for a penny you could have one and give one to your chum
Mars V
What can you buy for even a quarter today?!
Nexus 6
I wonder how much the zinc lobbyists have to do with this. Seems like we could do a lot of good with an extra $50+ million in the budget each year.
Peggy
I believe we did away with the half-penny when it had the buying power of today's dime.
Ken
some businesses only make a penny on some items . did you know they had to put ridges on dimes and quarters to keep people from shaving a little silver off the edge
Donna
I have a penny that is about the same size as a quarter and made of copper...dated 1848-100 yrs before I was born!
Player #43028101
If it makes dollars, it makes cents.
Player #15018601
SparkyChaz2018, the Mint has suggested eliminating the penny multiple times. The public kicks up resistance every time - "Tradition", "I don't like rounding", "they remind me of when I was a kid", "somehow the government will cheat me out of money if they make us round up/down", etc. blame it on a lack of political will from our representatives, not people running the mint.
Player #15018601
Spaztic, of course. Like any business, you have to consider the entire cost of a product attributable to making that product - not just the raw materials cost.
Player #15018601
Player #903024, or does it make... cents?
Max_Powers
It costs more to make a penny than what the penny is actually worth? That does not make a lot of cents.
RIP
KatsEye68, I agree 100%
Uninitialized
BluesPreacher, Yes it is a one cent piece but who actually wants to say that. Ever heard of slang.
Chyna Wiggum
Abe should be on the $100
Windwolf
KatsEye68, did anyone know that the "99's" started with a guy wanting to make sure everyone had a penny in their pockets to buy his penny paper??
Player #19715462
Spaztic, the article stated as much....
Player #20238792
Cost includes everything u mentioned??