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It's not just the penny that costs more to mint than it's worth. A nickel, despite holding a value of five cents, costs a whopping 13.78 cents to make, the Mint report said.
America could kill both the penny and the nickel, the two money-losers on its roster of coins. But without pennies or nickels, how would a consumer pay a 15-cent tab?
Many Americans regard both nickels and pennies as more nuisance than currency. The typical household is sitting on $60 to $90 in neglected coins, enough to fill one or two pint-size beer mugs ...
Nickels made of 75% copper and 25% nickel, while pennies, despite their reputation of being a copper coin are copper-plated zinc, meaning they are only 2.5% copper and 97.5% zinc.
Pennies will still be legal tender, but cash prices will soon be rounded up or down to the nearest nickel (which cost even more to produce relative to their value than pennies).
America could kill both the penny and the nickel, the two money-losers on its roster of coins. But without pennies or nickels, how would a consumer pay a 15-cent tab?
But without pennies or nickels, how would a consumer pay a 15-cent tab? You could round every price to the nearest 10 cents, taking the Common Cents Act a step further.
Trump tells Treasury Department to stop making pennies. What's that mean for your pennies? Many Americans regard both nickels and pennies as more nuisance than currency.
A nickel may be worth 5 cents but costs nearly 14 cents to make. With the penny possibly being eliminated, the Treasury wants a new, cheaper nickel.
America could kill both the penny and the nickel, the two money-losers on its roster of coins. But without pennies or nickels, how would a consumer pay a 15-cent tab?
But without pennies or nickels, how would a consumer pay a 15-cent tab? You could round every price to the nearest 10 cents, taking the Common Cents Act a step further.
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