since copper has gone up so much, iwonder how this has affected the value of pennies.
2007-02-11 14:20:20 · 5 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
Do you know how many jobs making pennies create? The zinc industry in the US depends on it. Everyone heard different stories.
Current price for
copper is 2.5496 $/pound (0.005620906 $/gram)
zinc is 1.461 $/pound (0.003220954 $/gram)
Since a penny is 2.5 grams and 5% copper and 95% zinc, the current price for the raw metal in a penny is 0.8352 pennies. Much less than people that "know" say
2007-02-14 11:20:00 · answer #1 · answered by NYC_Since_the_90s 6 · 0⤊ 0⤋
The scrap zinc in a post-1982 cent is worth 1.1 cents. With the costs of manufacturing and distribution, the net cost to produce one cent is about 1.4 cents. (the current cent is pure zinc plated with copper)
2007-02-11 22:31:17 · answer #2 · answered by silverpet 6 · 0⤊ 0⤋
im not sure i know some pennies cost a pennie and a half to make
2007-02-15 12:50:50 · answer #3 · answered by donielle 7 · 0⤊ 0⤋
Saw a show on Discovery the other day and they said it cost about 1.7 cents each. Also said it was illegal to melt down and sell them, how would they know, if it was melted?
2007-02-11 22:26:06 · answer #4 · answered by Anonymous · 0⤊ 0⤋
1.7 cents per penny
2007-02-12 00:06:34 · answer #5 · answered by cork 7 · 0⤊ 0⤋