A penny costs about 1.73 cents these days, with the metals used, zinc and copper, accounting for 1.12 cents of production costs.
According to the latest U.S. Mint figures, a nickel costs the government 8.34 cents to make. The cost of the metals – copper and nickel – account for 6.99 cents.
Spurred to cogitation, a noted economist has just floated the idea of making pennies worth 5 cents, and ceasing production of nickels altogether.
Is change good?