2006-10-10 16:19:28 · 9 answers · asked by John G 5 in Politics & Government ➔ Other - Politics & Government
Since it costs more than a penny to make them, I sure hope so.
We could just use Canada's. I get them all the time anyway.
Copper's at a bit over $3.00 per pound. Grab your scale and find out how many pennies in a pound.
2006-10-10 16:21:38 · answer #1 · answered by open4one 7 · 2⤊ 0⤋
I think it was 1982 the penny became copper coated Zinc to cut costs. But, it still cost. Many have said they could do away with the penny and make a 12 1/2 cent "Bit" doing the math it would work and cover sales tax. I not sure though.
2006-10-10 23:29:52 · answer #2 · answered by Snaglefritz 7 · 0⤊ 0⤋
Actually Tammy C I don't think it says anything about the Bush Presidency. Precious Metal prices are determined by the world market and have little to do with the US. Besides it is not the cost of the metal, (which is zinc not copper) that accounts for the expense but the transaction cost. It cost too much for people to handle them, or perhaps you would rather stagflation? Maybe if people made the same wages as 2 decades ago the transaction cost wouldn't be so high. Not to mention the majority of Industrialized nations phased out their version of the penny years ago. We keep it for sentimental value.
2006-10-10 23:41:52 · answer #3 · answered by CK1 2 · 0⤊ 0⤋
I don't have any information that they are going to stop making pennies but according to the US mint it costs approximately 1.23 cents to make one penny.
seems like a good idea to me. or they could make pennies out of something cheaper.
2006-10-10 23:29:03 · answer #4 · answered by Louis T 3 · 0⤊ 0⤋
The penny is still needed for sales tax reasons.
2006-10-10 23:22:22 · answer #5 · answered by Eldude 6 · 0⤊ 0⤋
They should, since Bush got in office, it takes more to make it then what it's actual worth is!!!! Now that should say something about the economy since his presidency, shouldn't it!!!!!!!!!
2006-10-10 23:22:25 · answer #6 · answered by Tammy C 3 · 1⤊ 2⤋
no. it only costs a fraction of one to make so they still make money on it.
2006-10-10 23:21:34 · answer #7 · answered by Anonymous · 1⤊ 0⤋
they should. its pretty much worthless.
2006-10-10 23:22:03 · answer #8 · answered by kel§ey 3 · 0⤊ 1⤋
i think they should...
2006-10-10 23:21:13 · answer #9 · answered by predhead33 3 · 1⤊ 0⤋