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What Is The Penny Cost-Effective?

356 Words2 Pages

The penny has been used in many day to day scenarios and is recognized throughout history and even dates back to the Frankish Empire. However, many people see the penny as useless and not cost-effective. The reasoning behind this thinking is that the penny cost more to produce than its actual value, and they take up too much space and time. The cost of pennies is causing a lot of unwanted debt due to pricing for the materials. The United States mint confirmed in 2014 that,”...each zinc and copper coin costs 2.41 cents to produce and distribute”(Sommer, 4). This means that the coin isn’t cost-effective, or it is not productive in relation to the items cost. This costs up to $60 million, and near $20 million in losses annually. In addition,

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