On Friday night's news, we hear that Canada intends to eliminate their penny. In that country, it costs 1.5 cents to produce one penny. Pricing of goods there would be rounded out to the nearest five cents; in fact, many have begun this practice already.
Here, in the good ol' U.S.A., the penny has been in existence since 1787. Our administration is looking at less costly materials to make our penny which is currently 97.5 percent zinc and 2.5 percent copper. It costs 2.41 cents to mint one cent. And it's still necessary to mint them since so many people, my husband among them, save pennies.
A penny for your thoughts!
You man 2.41 cents for my thoughts.
ReplyDeleteI have heard of people who are hoarding pennies until they are obsolete..Then they will have them melted down for the price of copper...
ReplyDeleteWorth more melted than as a penney...Right now it would be against the law....
I save wheatback pennies..They say they aren't worth any more than the regular penny..Or should I say any less...I save them anyway...
ReplyDeleteIn Canada, as soon as the cost was .5 more than the worth of a penny they decided to do something about it. Here it is over twice as much as the worth and we are still making them. What does that mean?
ReplyDeleteOH our wonderful government at work!
ReplyDeleteOH our wonderful government at work!
ReplyDelete