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Originally Posted by Brujah
I like it, get rid of the penny. It costs 2.4 cents in the U.S. to produce 1 penny. That's a complete waste of U.S. tax dollars, to the tune of about $10 billion dollars per year.
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A penny - as it is commonly known in the US - costs 2.4 cents to produce and distribute. And there were 4.3 billion minted lasted year.
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Source for that number? According to the numbers in the article it would be a production cost of $100 million, with a loss of $60 million. While that's quite a bit, it is still just a fraction of the $10 billion you quoted.