Costs 1.7 cents to make a penny???

Discussion in 'Random Ramblings' started by teach1rusl, Jul 21, 2011.

  1. teach1rusl

    teach1rusl Love My Chickens

    Okay, I admit to always being a day late and a dollar short when it comes to what's happening in the world...
    But I was watching something the other day that talked about how many wanted to totally do away with pennies, and they brought up that it costs 1.7 cents to create the penny, worth only 1 cent. Am I the only one that didn't know this??? Am I the only one who thinks this is just plain crazy??? Why would we put more into a penny (or any coin/bill) than its value?? [​IMG]
     
  2. redhen

    redhen Kiss My Grits... Premium Member

    35,112
    128
    458
    May 19, 2008
    Western MA
    Figures.. [​IMG]
    Cant the govt afford a better acct. or something,.. [​IMG]
     
  3. Forrest_Flock

    Forrest_Flock Chillin' With My Peeps

    Jul 15, 2011
    Atlanta, GA
    maybe one day we will end up like Australia

    I thought it was sort of weird when I went
    and they had no 1 or 2 cent coins
     
  4. Mac in Wisco

    Mac in Wisco Antagonist

    3,479
    50
    246
    May 25, 2007
    SW Wisconsin
    Quote:It's just a token of a specific value. The government doesn't "sell" them for one cent, they put them into circulation.

    If it costs them $1 to make a $100 bill, does that mean they are ahead by a bunch? No... nor are they behind because they made a penny for 1.7 cents.
     
  5. teach1rusl

    teach1rusl Love My Chickens

    Quote:It's just a token of a specific value. The government doesn't "sell" them for one cent, they put them into circulation.

    If it costs them $1 to make a $100 bill, does that mean they are ahead by a bunch? No... nor are they behind because they made a penny for 1.7 cents.

    Logically, I see what you're saying... But it still just seems wrong...[​IMG]
     
  6. SarahFair

    SarahFair Chillin' With My Peeps

    Sep 23, 2008
    Monroe, Ga
    Quote:Whats up with Australia?
    [​IMG]
     
  7. Forrest_Flock

    Forrest_Flock Chillin' With My Peeps

    Jul 15, 2011
    Atlanta, GA
    the smallest they have is 5c haha, nothing wrong with that
     
  8. fuzziebutt

    fuzziebutt Chillin' With My Peeps

    Mar 9, 2009
    Winfield
    And when the penny was first made, it didn't cost that much to make. But I also LOVED what Mac in Abilene said. Makes alot of cents. Bahhahahahaaa! I graduated from Cooper High School in Abilene!
     
  9. Mac in Wisco

    Mac in Wisco Antagonist

    3,479
    50
    246
    May 25, 2007
    SW Wisconsin
    Quote:My oldest son graduated from there in '09.
     
  10. magicpigeon

    magicpigeon Chillin' With My Peeps

    Oct 9, 2010
    Quote:Don't holdyour breath...they're thinking of getting rid of that too [​IMG]
     

BackYard Chickens is proudly sponsored by