Today is Lucky Penny Day, a day set aside to appreciate the good luck finding a penny is supposed to bring. Remember the old rhyme:
See a penny, pick it up,
all day long you’ll have good luck.
all day long you’ll have good luck.
Unfortunately, pennies may not be with us much longer. For the sixth year in a row, it now costs the U.S. Mint more to manufacture and distribute a penny than it’s worth. A lot more. Every penny minted in the U.S. this year will cost 2.41 cents. That hardly makes sense.
Starting this fall Canada will stop producing pennies, saving our neighbors to the north 11 million dollars a year. Last year the U.S. Mint produced 4.9 billion pennies. That’s $118 million dollars spent to make 49 million dollars worth of pennies. Where’s the logic in that?
Starting this fall Canada will stop producing pennies, saving our neighbors to the north 11 million dollars a year. Last year the U.S. Mint produced 4.9 billion pennies. That’s $118 million dollars spent to make 49 million dollars worth of pennies. Where’s the logic in that?
There’s now a movement to do away with pennies here in the U.S. Of course the zinc industry is opposed and lobbying against such a proposal. Pennies are mostly made from zinc these days. Another group in opposition to dumping the penny is the Lincoln Library which stated it would fight for the penny down to the last cent.
How long will we continue to waste money on the lowly penny? It’s not like you can buy anything for a penny any more. What are your feeling about doing away with the penny to save tax dollars? A penny for your thoughts?
How long will we continue to waste money on the lowly penny? It’s not like you can buy anything for a penny any more. What are your feeling about doing away with the penny to save tax dollars? A penny for your thoughts?
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