So Stupid But So Necessary
Here is a fun fact for you:
Mainly because the price of zinc has soared in value, a penny now costs about 1.7 cents to produce. One-cent coins don't have much economic utility, as we all know. Most people don't even stop to pick them up if they see one on the ground. Apparently, if you stop to pick up a penny and it takes more than 6.15 seconds, that pays less than minimum wage. How much does that suck. Did you know that the U.S. stopped making half-cents in 1857, when a half-cent had significantly more purchasing power than a dime does today. You'd think they'd stop making pennies about now.
Mainly because the price of zinc has soared in value, a penny now costs about 1.7 cents to produce. One-cent coins don't have much economic utility, as we all know. Most people don't even stop to pick them up if they see one on the ground. Apparently, if you stop to pick up a penny and it takes more than 6.15 seconds, that pays less than minimum wage. How much does that suck. Did you know that the U.S. stopped making half-cents in 1857, when a half-cent had significantly more purchasing power than a dime does today. You'd think they'd stop making pennies about now.
posted by Breanne King at
7:48 PM
5 Comments:
The way zinc is going up it's possible it will be worth more than an actual dollar bill. They are worth about $0.02 of paper, and the way this economy is going I may start picking up more of those pennies. The dollar sure isn't looking any more.
Hi guys! This is Marcus and Brittanie! How are you guys doing? We haven't seen you in forever... I found your blog threw Greg and Mishelle, We have one too, it's marcusandbrit.blogspot, You'll need to check it out and call us!
One word-NOSTALGIA! What would we call penny loafers? Do they even make those anymore?
I love the way you think! Now if someone would just listen to you. The way you put it, it makes perfect sense that they do away with the penny.
My girls, however, would miss picking them up off the ground in parking lots (so dirty, I know). They shop with their heads down in search of pennies. If the U.S. did away with pennies maybe people would start to throw away their nickels. My kids would think they had really scored if they found a nickel.
Who made up that saying that a penny saved is a penny earned. I guess it should be more like a penny saved does less for your wallet than working at macdonalds.
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