How Much Does It Cost To Make A Penny Or A Nickel? Congress Makes Plans As Production Costs Double
It seems silly and almost like it's the answer to a riddle: How much does it cost to make a penny? ...Or a nickel? With production costs mounting, Congress is re-addressing the issue again - in hopes of finding a economical solution.
A penny costs more than two cents and a nickel costs more than 11 cents to make and distribute. The quandary is how to make coins more cheaply without sparing our change’s quality and durability, or altering its size and appearance.
Lawmakers are reviewing a study that hopes to find a solution.
Evaluations of 29 different alloys concluded that none met the ideal list of attributes. The Treasury Department concluded that additional study was needed before it could endorse any changes.
The review of the metals used to mint pennys and nickels joins the growing move to do away with the paper one-dollar bill as a means to save the United States Government money.