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Friday, May 16, 2008

Farewell to Simple Matters

On this sad day, we give our farewells to simple matters, for making money has become more complicated. The cost to make a penny now costs more than a penny and the cost to make a nickel is more than a nickel. The cost of copper, zinc, and nickel is on the rise; simple matters are slowly dying. A penny is made up of 97.5 percent zinc and 2.5 percent copper, which makes it cost 1.26 cents to make. A nickel is made up of 75 percent copper and 25 percent nickel, costing it 7.7 cents to be made. Some members of Congress are looking at the solution of making steel coins like those in World War II. There are many arguments in Congress on how to solve this problem; some even say to get rid of the penny altogether. While they try to figure this out, luckily the other coins are still cheaper to make than their face value. Hopefully simple matters can be revived.

*Extra*-According to the Mint, a dime costs a little over 4 cents to make; a quarter costs almost 10 cents; and the dollar coin costs around 16 cents to make.

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