Monday, July 03, 2006

Penny Wise and Production Foolish?

I just read an article that states that the cost of producing the U.S. penny is increasing due to rising metal costs. It now costs the United States 1.2 cents to produce the 1-cent penny. If the rise continues, the penny could face a time when it is no longer produced. In addition to that, the US mint has also said that the nickel’s cost of production has passed 5 cents.

If that continues, could the dime ever become our lowest denomination of coinage? I sure hope not, 10 cents is a lot to be throwing away into fountains and any other public place that holds water!!

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