Did you know that minting the nickle and the penny costs the U.S. Mint almost twice as much as the coins are actually worth? It’s true! According to the Washington Post, taxpayers lost over $100 million, in 2013 alone, from the minting the coins. One might say that the math for cents doesn’t make sense!
Interestingly, the article also states that it costs nearly a quarter to make a dollar….a much better investment!
Other options are being explored to bring the costs of these coins down, but nothing set in stone, yet.
Want to learn more about money? Check out Learning about Money on Discovery Education Streaming!