Cost to Make the Penny
Cost to Make the PennyIt’s official. The 2011 annual report from the United States Mint has been released. When discussing cost to mint a coin, one must look backwards in time at last year’s reported figures. So how much does it cost to make a penny in 2011? Here’s our updated chart modeling the cost of the penny since the year 2001:  2.41 cents. Every one cent made by the United States Mint costs 2.41 cents. The consensus is that this loss is 3x greater than the Fiscal Year for the mint in 2010. That’s three times the inefficiency, waste of money, and over-compensating minting of coins for circulation. Penny Profitability  United States Mint Annual Report 2011
Want to read the annual report? Here’s the link below. We recommend doing a “find search” for the word ‘penny’ to save time when reading. The actual figures printed for losses are on page 11. Our advice: Buy copper pennies now before pennies are exterminated and the price of copper pennies skyrockets when people realize they can’t get them in circulation anymore (read more: Penny Cost 2012 Boosts Copper Penny Investing). United States Mint 2011 Annual Report What do you think about the penny? Should the United States Mint keep making the penny, change the composition of the metal of the coin, or discontinue the penny altogether? Leave a comment below with your thoughts. |
and we are looking for ways to get out of debt! yet we overlook the simple thing of a cent and look at how much it costs to make them vs. the actual face value and continue to loose over $165 MILLION dollars on this. the smart person would look at this and say WHY!! also to all thoes who like jokes; what is the difference between a congressman vs. a dad? the dad knows when to stop writing checks!!
I think with all this money being lost. They should just stop the manufacturing of the penny, and use the money on something important such as, helping the children in Africa. And maybe if they didn’t make the penny, then the U.S. wouldn’t complain about being in debt and we would have a stronger economy.
That’s ridiculously that it costs so much to make a stupid penny.