tag:blogger.com,1999:blog-9081839335664801611.post2984016317686923894..comments2022-12-05T00:33:58.055-05:00Comments on Lukas Coaching: How Much Does Your Penny Cost?Justin Lukasavigehttp://www.blogger.com/profile/12039919635546176011noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-9081839335664801611.post-15456532210220785182009-04-24T17:54:00.000-04:002009-04-24T17:54:00.000-04:00Small correction and some thoughts: according to W...Small correction and some thoughts: according to Wikipedia coins were changed from <A HREF="http://en.wikipedia.org/wiki/Cent_(United_States_coin)#History_of_composition" REL="nofollow">mainly copper to mainly zinc in 1982</A>. <br />According to London Metals Exchange, via metalprices.com, cost per penny in bulk metal would be 0.34 cents (1.34 cents if we still used mainly copper). Which makes me think that the production costs continue to go up as the value of a penny (along with the dollar) goes down. I doubt even if the penny were made of styrofoam or plastic it would be cost effective.<br />This does little to change the question of how long we want to keep the penny, but I think that if only the penny were dropped, then people would ask where the extra pennies went. So I suspect that we keep it until the dime has a low enough value that we can drop the penny and nickel at the same time.<br />ErikAnonymousnoreply@blogger.com