Fergie's Tech Blog

Pennies and Nickels Now Cost More Than Their Worth

Andrea Berry reports on ABC News' "The Blotter":

The U.S. Mint says each penny now costs 1.23 cents to produce. It's 5.73 cents for a nickel.

For the first time in history, these coins cost more money than they're worth -- literally. In short, the government is losing money by printing pennies and nickels at all.

posted by Fergie @ 6/28/2006 10:24:00 AM