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November 23, 2009

Pennies are Expensive

Filed under: Reviews — Tyler @ 10:48 am
1943 Pennies are lucky

1943 Pennies are lucky

Did you know that it costs 1.38 cents to make a penny? I just read an article at OhMyGov.com that told me that. Check out this link to read the article. This is a big deal, because we have a lot of pennies being made every year in the USA. Have you ever wondered what is up with pennies and coins, since our dollar keeps loosing value? I just checked Yahoo Finance and it said that a Euro is worth about 1.49 dollars. This means that our currency isn’t worth that much vs. the Euro. One of the reasons why pennies cost so much to make is because there is supposed to be copper in a penny. Copper is a valuable commodity and it is expensive on the world market. Copper costs .00683 dollars/gram according to yahoo answers. Check out the link to yahoo answers here. If a penny weighs 2.5 grams then that means if it was pure copper it would cost .01625 dollars or 2 cents. But we know that each penny isn’t made of 100% copper.  One of the biggest uses of copper is for electrical wiring. So it makes sense that we need a great deal of copper to support the construction of making new buildings all across America. So when you look at your pennies. Take a look at the date. Because as a good rule of thumb, the older they are, the more copper content they have in them. And they usually are worth more the older they are. Or if the condition of the penny isn’t that great, then you can always melt down your pennies and use them for electrical wiring in the case of a post-apocalyptic scenario where copper mines are scarce.

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