Tuesday, April 17, 2012

Takes Money to Make Money

Did you know:

Next time you feel like giving someone your 2 cents, you won't need more than a penny. That's because when you factor in materials, manufacturing costs and overhead, it took 2.4 cents to produce a single Lincoln cent last year, the U.S. Mint says.

Those nickels hiding in your sofas and purses are pricey, too. It cost roughly 11.2 cents to make one U.S. nickel -- like the penny, more than double the coin's face value.

Critics suggest it's time for the Mint to start pinching its pennies. A bill before Congress would mandate a switch to a cheaper metal -- steel -- for pennies and nickels. It's about time!

Ever wonder who's minding the store?

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Whiskeytown Lake, Very Northern California, United States