Turns out it costs the government approximately 1.8 cents to make a penny and 9 cents to make a nickel. No wonder the government is going broke. Be sure to click on the below link for a very informative and entertaining video on why the penny needs to go away.
Another supporting video can be found here:
http://consumerist.com/2010/09/video-why-pennies-are-bacteria-ridden-disks-of-suck.html
Update! Canada "gets it!" Now if only the U.S. would eliminate the penny and redesign the nickel to be more like the current penny since nickels also cost more than what they are worth.
http://consumerist.com/2012/03/canada-decides-its-sick-of-the-penny-will-stop-making-them.html
Update! Canada "gets it!" Now if only the U.S. would eliminate the penny and redesign the nickel to be more like the current penny since nickels also cost more than what they are worth.
http://consumerist.com/2012/03/canada-decides-its-sick-of-the-penny-will-stop-making-them.html
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