The Penny Costs 3.69 Cents to Make. - SchiffGold.com
Source: SchiffGold.com
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DW NOTE
The Mint lost $179 million last year stamping out coins worth half that at face value. At 3.69 cents production cost for a 1-cent piece, the penny is a perfect miniature of federal finance: an operation that destroys value as a matter of policy, sustained entirely by the fact that the Treasury can print the shortfall. Seigniorage in reverse.
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