2007-09-28 11:55:49 · 6 answers · asked by smoothfriend4u 1 in Games & Recreation ➔ Hobbies & Crafts
Yes, it does. By one accounting, as of July 2006 it cost more than 1.4¢ to manufacture and distribute a penny.
In fact, there has been legislation advanced in Congress for recently to stop production. BUT the good folks of the State of Illinois won't permit it.
And the cost of Zinc is still rising
2007-09-28 12:20:09 · answer #1 · answered by mariner31 7 · 2⤊ 0⤋
As of right now yes if you count in labor and transportation. the same may be true with the nickel also unless nick has gone down in price. As of now it is illegal to melt both of those denominations and there are export restriction also. Congress gave the mint authority to extend the ban. America is not the only country with some denomination of coins being worth more than face value and some without taking into consideration the labor and costs. South Korea, India and the Philippine islands are just 3 of them. A ship with tons of coins from the Philippines was stopped in Manila harbor. However going by what happens to countries that drop their small denomination coins, it is best we keep ours. Prices would be rounded up and that would cause inflation.
2007-09-28 12:13:34 · answer #2 · answered by Taiping 7 · 3⤊ 2⤋
The scrap zinc in a placed up-1982 cent is properly worth one million.one million cents. With the charges of generating and distribution, the internet fee to offer one cent is a pair of million.4 cents. (the present cent is organic zinc plated with copper)
2016-12-28 06:35:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If you want to know for sure you can find out at the US mint web site.
2007-09-28 12:04:04 · answer #4 · answered by milton b 7 · 0⤊ 1⤋
With the cost of everything else today, I wouldn't doubt it.
2007-09-28 12:17:50 · answer #5 · answered by Anonymous · 0⤊ 2⤋
I would say yes - copper is becoming more scarce.
2007-09-28 13:45:28 · answer #6 · answered by Jewel 6 · 0⤊ 2⤋