TIME explains why we still make pennies [video]

[Minrelica]

I thought some of you coin collectors would find this interesting.

 

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[D1MES_101]

if it costs the mint 2c to make the penny - why dont we just call it a 2c penny like a 2c euro

 

[D1MES_101]

and the government is stupid - its costs us 5 cents to make a dime and 10 cents to make a nickel - why dont we just turn the nickel into the dime and the dime into the nickel? DERPPPP

 

[SilverHoarder07]

and the government is stupid - its costs us 5 cents to make a dime and 10 cents to make a nickel - why dont we just turn the nickel into the dime and the dime into the nickel? DERPPPP

First thought that comes to mind - and it may be incorrect - is that the mintage #s for each coin aren't equal to each other. Therefore doing a switch-a-roo straight across between 2 coins would meen we are either drastically increasing or drastically decreasing the amount of money in circulation...its on 5-10 cents but it can add up!

 

[unclehuckelberry]

First thing that comes to mind is that they showed copper wheat cents while saying a zinc company makes these pennies. lol

 

[sagittarius98]

and the government is stupid - its costs us 5 cents to make a dime and 10 cents to make a nickel - why dont we just turn the nickel into the dime and the dime into the nickel? DERPPPP

They would have to be different sizes since people would get confused by the size. Then they would withdraw all the old ones, making silver dimes and nickels a thing of the past.

 

[sagittarius98]

First thing that comes to mind is that they showed copper wheat cents while saying a zinc company makes these pennies. lol

Some zinc was used in the copper cents (around 5%).

 

[fjer]

First thing that comes to mind is that they showed copper wheat cents while saying a zinc company makes these pennies. lol

They also showed a silver nickel

 

[hotrod]

awsome video!

 

[billionaire]

I think the nickel costs so much because the used a silver one. Wish that was in my last box

 

[sagittarius98]

I think the nickel costs so much because the used a silver one. Wish that was in my last box

The regular one costs 11 cents to make.

 

[BuffaloBoy]

Where it may not cost the mint 1.4 cents more to make a penny, you got to take into consideration the labor and machinery involved.
good video.