Making a penny costs more than the penny itself. Although it may seem like a small amount, the cost of producing a single penny is actually much higher than its face value. In this article, we will discuss the cost of making a penny and the process of making a penny.
The Cost of Making a Penny
According to the U.S. Mint, the cost of producing a penny in 2018 was 1.7 cents. This means that it costs the U.S. Mint more than the face value of a penny to produce each one. This cost is mainly due to the materials used to make a penny, such as copper and zinc. In addition, the cost of labor and other associated costs, such as packaging and shipping, are also factored into the cost of making a penny.
The Process of Making a Penny
The process of making a penny is quite complex. The process begins with the purchase of copper and zinc. The copper and zinc are melted together and then formed into a sheet. This sheet is then stamped with the design of a penny and cut into individual coins. The coins are then cleaned, polished, and checked for quality before being packaged and shipped to the Federal Reserve.
Plating the Penny
Once the penny has been stamped and cut into individual coins, the coins are then plated with copper and zinc. This is done by placing the coins in a solution of copper and zinc and then applying an electric current. The electric current causes the copper and zinc to adhere to the coins and form a protective layer. This plating process is important as it helps to protect the coins from wear and tear.
Conclusion
In conclusion, it costs more than the face value of a penny to produce each one. This is mainly due to the cost of materials and labor, as well as other associated costs. The process of making a penny is quite complex, involving the melting of copper and zinc, stamping, cutting, plating, and packaging. Overall, the cost of making a penny is much higher than its face value, but it is still an important part of our currency system.