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A 2017 paper by Canadian economist Christina Cheung found that penny-rounding in grocery transactions imposed a “rounding tax” of approximately $3.27 million, from Canadian consumers to ...
According to the latest annual report from the US Mint, each penny cost 3.7 cents to make, including the 3 cents for production costs, and 0.7 cents per coin for administrative and distribution costs.
The 88-year-old associates the copper coin with her childhood penny loafers and the summer afternoons when she and her friends would place them on a railroad track and wait for a train to smash ...
Advocates for ditching the penny cite its high production cost — currently almost 4 cents per penny, according to the U.S. Mint — and limited utility. Fans of the penny cite its usefulness in charity drives and relative bargain in production costs compared with the nickel, which costs almost 14 cents to mint.
A penny saved is a penny earned: arguments for eliminating the one-cent coin The main argument against the penny is the one made by Trump: it costs more to make than its value.
The sole provider of zinc "penny blanks," Jarden Zinc Products of Greeneville, Tennessee, has hired lobbyists to make the case for preserving the penny and their sales. [ 37 ] In 2011 $140,000 in retention fees were paid to Americans for Common Cents for its lobbying efforts on behalf of Jarden Zinc who received a $48 million dollar government ...
Penny press journalists were the first people to report on crises and crime news, something that has become a staple in newspapers since. Continuing reports on the same story were introduced in penny press papers and were read by thousands of people on the same day.
The cost of manufacturing a penny was about 3.7 cents in fiscal year 2024, according to the US Mint, which noted that it lost $85.3 million on the more than 3 billion pennies it produced last year.