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According to MONEY Magazine-
The U.S. Mint produces billions of pennies each year (more than 3 billion last year), even though each one COSTS 3.7 CENTS To PRODUCE.
The price tag for the billions of pennies minted in the last year alone was more than $85 million.
One potential downside to getting rid of pennies would be an increased reliance on nickels, which are even more economically inefficient: IT COSTS NEARLY 14 CENTS To PRODUCE A NICKLE.
According to MONEY Magazine-
The U.S. Mint produces billions of pennies each year (more than 3 billion last year), even though each one COSTS 3.7 CENTS To PRODUCE.
The price tag for the billions of pennies minted in the last year alone was more than $85 million.
One potential downside to getting rid of pennies would be an increased reliance on nickels, which are even more economically inefficient: IT COSTS NEARLY 14 CENTS To PRODUCE A NICKLE.
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@AryanSwastika Time to just use dimes then until the economy improves.
We will Never see deflation to the point where pennies and nickels are viable again.
