The American penny is history. The nickel might be next.
The American penny is history. The nickel might be next.
The last pennies were pressed at the US Mint in Philadelphia on Wednesday, a victim of production costs higher than their worth coupled with limited usefulness. While the penny remains legal tender, banks and merchants are already reporting shortages.
But the factors that prompted the government to stop making pennies are even truer for the nickel. Pennies cost nearly 5 cents to make – 4 cents more than they’re worth. The nickel’s net loss is nearly 9 cents per coin.
Nickels
The American penny is history. The nickel might be next.
The last pennies were pressed at the US Mint in Philadelphia on Wednesday, a victim of production costs higher than their worth coupled with limited usefulness. While the penny remains legal tender, banks and merchants are already reporting shortages.
But the factors that prompted the government to stop making pennies are even truer for the nickel. Pennies cost nearly 5 cents to make – 4 cents more than they’re worth. The nickel’s net loss is nearly 9 cents per coin.
Nickels
1 month ago
