Sunday, December 30, 2012

Pennies From Heaven

The government prints a lot of $1 bills. But it turns out that minting $1 coins is much, much cheaper. Over the course of 30 years, the government could save $4.4 billion by switching from dollar bills to dollar coins. Conversely, the cost of making the pennies (1.26 cents each) is higher than face value, and the melt value of pennies ranges from more than 2.4 cents for the pre-1982 copper pennies, to nearly a full cent for the zinc pennies.

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