Is this an April Fool's joke??? Give a penny - take a penny.

[Joel-Winnipeg]

I was reading an article in the morning paper today that because of the soaring price of zinc, copper and nickel, it now costs the U.S. mint 1.7 cents to make each penny and 10 cents to make each nickel, but the dime and quarter still are worth more than their cost of production. The dime costs seven cents to make and the quarter checks in at 20 cents for production.

Here in Canada they are seriously talking about doing away with the penny. It's not uncommon to see kids just chuck a handful of them all over the place around here. I can see that when I bling. It's like a minor spread spill.

What's the thought on this?

Joel-Winnipeg

 

[Neil in West Jersey]

With inflation headed in the direction it is heading, there is no need to doo away with the penny. A penny is only worth a fraction of what it was worth only a few years ago. Why not just turn a dollar into a dime and a dime into a penny. A penny could be 1/10 cent. After all, it used to cost me $10 for a tank of gas, not $60, and my cable bill was $35 per month, not $200! Even a piece of bazooka gum is now .5 ; no longer a penny!

 

[dan b]

So why would you need 1/10 cent coins?

Dan

 

[dahut]

Whoever said the Mint had to make money? Where did that idea come from, anyway?