Sell your pennies!
I had a client once that made processed the zinc to make pennies. They knew what they made but told me they thought the .gov broke even making them. Now, it turns out, pennies cost more to make than they are worth:
. . . the metals used in a penny cost about 0.8 cents, and it costs another 0.6 cents to make the penny.
April 26th, 2006 at 12:10 pm
That’s been the case for at least a couple of decades (pennies costing more than they’re worth).
April 26th, 2006 at 6:11 pm
Ummm, no, it has not been true for a couple of decades that pennies cost more to make then they are worth.
When copper got too expensive to be used to make pennies at or below cost, the mint switched over to zinc plated copper in 1982.
Zinc has just about tripled over the past 9 months, reaching all time highs in the past few weeks.