Tuesday, 3 January 2017
What were they thinking?
- Only a government thinks like this.
The pre-1982 US penny was composed of 95% copper and 5% zinc. The current "melt value" for the copper content is $0.016291...for Common Core math students and anyone holding public office at the moment...that's 1.63 cents, or worth more than the face value of the coin.
- Roughly a cent and a half.
The post-1982 US penny has been composed of 97.6% zinc and 2.4% copper (it's essentially a copper-washed token). The current "melt value" is $0.0062522...with the same caveats as above...that's 0.63 cents.
- Roughly worthless.
The most recent data from the US Mint (2015) tells us that it costs 1.67 cents to make a penny.
- And some people are distressed at the idea of a failed "community organizer" being replaced by a successful "businessman?"
From Theo Spark at 11:04