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Thread: The Penny Project

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  2. #2
    Olympic Champ RYou's Avatar
    Join Date
    Mar 2007
    New Jersey

    Default Re: The Penny Project

    Fun act and it isn't from a Snapple cap.

    As of August 9, 2007, the price of copper was $3.50 per pound and zinc is $1.57 per pound. At these prices, the pre-1982 copper cent contains 2.34 cents worth of copper, which makes them worthwhile to be melted sold for a profit.

    The United States Mint, in anticipation of this practice, implemented new regulations on December 14, 2006 which (or that ?) criminalized the melting of cents and nickels and place limits on export of the coins. Violators can be punished with a fine of up to $10,000 and/or imprisoned for a maximum of five years.

    The currently produced copper-plated zinc cent contains 0.89 cents worth of metal. However, the mint spends about 0.6 cents to produce each cent in addition to the cost of the metal content. The cost to produce 1 penny is 1.49 cents at the curent volume of production.

    Now that makes no cents to me.

  3. #3
    Ancient Arachnid Spider's Avatar
    Join Date
    Apr 2007

    Default Re: The Penny Project

    Quote Originally Posted by RYou View Post
    Now that makes no cents to me.
    . . . to coin a phrase.
    Atrophy: what you get when you win atournament.

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