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Penny Pinching

Penny Pinching

We know times are tough when it costs more to make a penny than the penny is worth.

The cost to create a penny is up to 1.26 cents and the cost to create a nickel is about 7 ½ cents. Congress may try to bring back the steel made pennies created by the U.S. Mint during World War II and may do the same for nickels.

What does this mean to you? It means that printing coins at a cost higher than face value will set taxpayers back millions of dollars this year alone.

My best advice; hold on to your pennies, they are worth more than you think!

Published May 17, 2008.