Hundred million dollar trivia from the National Center for Policy Analysis:
It costs the United States nearly twice as much to make a penny as that penny is actually worth, writes Christopher Ingraham for the Washington Post, reporting that it costs the government 1.7 cents to make a penny. And pennies aren’t the only problem: it costs the government more than 8 cents to make a nickel.
A new report from the U.S. Mint reveals that it’s still not cost-effective to make pennies and nickels. Pennies and nickels used to be profitable in the early 2000s, says Ingraham, but the cost of producing the coins began rising in 2006 and has only gone up. While currency costs fell overall this year due to declining copper prices, the two coins still cost more than their face value.
The rest of American currency is doing alright:
- It costs 5.4 cents to make a dollar bill.
- It costs 8.95 cents to make a quarter.
- It costs 3.91 cents to make a dime.
Read more: NCPA
