Monday, March 10, 2014

Nice graphic on how much it costs to manufacture US coins. Time for the penny AND Nickel to go???

The Washington Post has an excellent story and a few graphs on the cost of making money. Not earning money but the actual manufacture of currency and coinage.

Making a dollar bill is pretty profitable but making pennies and nickels is a money losing proposition.  

Isn't is really time to let the penny go and become a historical footnote?
coin cost
The cost of the metal bares much of the blame for the increased production costs.

The graph below shows how much it costs to produce $1.00 worth of each bill and coin.

historical coin production cost per dollar

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