Penny Costs 2 Cents to Make, Mint Stumped on Fix
2 years of testing returns no usable alternative
By Kate Seamons, Newser Staff
Posted Dec 20, 2012 11:39 AM CST
This undated photo provided on Wednesday, Dec. 19, 2012 by the U.S. Mint in Philadelphia shows is a bonneted Martha Washington on a nonsense test piece.   ((AP Photo/U.S. Mint))

(Newser) – A penny costs more than two cents and a nickel costs more than 11 cents to make and distribute. The Mint is trying to figure out how to produce coins more cheaply without sparing our change's quality and durability, or altering its size and appearance—and its initial findings aren't too encouraging. A 400-page report presented last week to Congress outlines nearly two years of trials conducted at the Mint in Philadelphia, where a variety of metal recipes were put through their paces in the massive facility's high-speed coin-making machinery. The test stampings were then examined for color, finish, resistance to wear and corrosion, hardness, and magnetic properties.

Evaluations of 29 different alloys concluded that none met the ideal list of attributes. The Treasury Department concluded that additional study was needed before it could endorse any changes, and more test runs with different alloys are likely in the coming year. Neat tidbit: When testing possible new metal combinations, the Mint uses "nonsense dies," images that don't exist on legal tender ... and a bonneted Martha Washington is apparently a favorite subject. (In other penny-saving news, could Congress do away with the dollar bill?)

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Showing 3 of 63 comments
HANKHILL
Dec 24, 2012 3:12 PM CST
easy one just get rid of them!
augie2
Dec 21, 2012 3:53 PM CST
Just stop minting the damn thing. They're a pain in the ass and that's why you see them in trays by the registers. People toss them in the tray to avoid carrying the worthless things. What's hard to figure out ? They cost two cents to make one penny, doesn't take a math genius.
Scott603
Dec 20, 2012 10:12 PM CST
The US Mint costs every American family around $20 a year, and if we changed the composition of the penny and nickel we could probably get it down to $18 per family. But, the Iraq war cost every family in America $15,000. So... Maybe the cost of the Mint isn't really our highest priority?