It cost 1.7 cents to make a penny this year, and 8 cents to make a nickel(washingtonpost.com)
washingtonpost.com
It cost 1.7 cents to make a penny this year, and 8 cents to make a nickel
http://www.washingtonpost.com/blogs/wonkblog/wp/2014/12/15/it-cost-1-7-cents-to-make-a-penny-this-year-and-8-cents-to-make-a-nickel/
2 comments
The first bar chart shows how many cents it costs to make one of each of the coins and a dollar bill. The second bar chart shows how much it costs to make a dollar's worth of each coin and a dollar bill. Shouldn't both charts have the same cost for the dollar bill? Am I missing something?
There's a note below the second chart. They're talking about the value of producing these over a period of time.
Coins last much longer, 25 years compared to 6 years for a dollar bill. So, how much do they really cost in the long run is what showing in the second chart.
Basically, despite the fact that bills last 6 years, it's still cheaper to replace them.
Coins last much longer, 25 years compared to 6 years for a dollar bill. So, how much do they really cost in the long run is what showing in the second chart.
Basically, despite the fact that bills last 6 years, it's still cheaper to replace them.
Ah... I knew I had to be missing something. That makes sense. Also seeing that coins last for about 25 years makes the cost to produce not seem as bad.