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Star lover
May 11th, 2018, 07:08 AM
It costs 1.82 cents to mint a U.S. penny and 6.6 cents to make a nickel, according to the most recent (2017) annual report from the United States Mint.

152339. 152340

The negative discrepancy between the coins' value and the cost of production — what Treasury officials would call negative seigniorage — has to do with the continually rising price of zinc used to make pennies and copper used to make nickels. (Pennies contain more zinc than copper; nickels contain more copper than nickel!)

Other interesting facts about US Coins and Currency:


(1) The U.S. Mint’s first production in 1793 consisted of 11,178 copper cents. Today the Mint produces an average of 14.7 million coins per day.

(2) How many paper bills does the Mint print every year? Not a single note. (That’s the job of the Bureau of Engraving and Printing.)

(3) The first real woman (not a symbolic figure) on an American commemorative coin was also the only foreign woman— Queen Isabella of Spain, on an 1893 quarter dollar.

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(4) By law, the design for U.S. coins must feature “an impression emblematic of liberty.”

(5) Why did the Indian Head cent make way for the Lincoln penny in 1909? To commemorate Honest Abe’s 100th birthday. The Lincoln Memorial on the back was added for his 150th in 1959.

(6) The 1909 Lincoln penny was the first circulating (noncommemorative) American coin to depict a real person.

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Side note: as a child my dad had all of us kids search all the change my parents got.....in search of a S VDB penny (Lincoln penny). Today it's worth about $2000.00, in great condition or about $800 in good condition. Needless to say, we never found one.

(7) When the U.S. Mint began in the 1790s, one of the places it bought copper was from a firm owned by Paul Revere.

(8) First African American to be depicted on an American coin: Booker T. Washington, on a half-dollar coin, 1946–51. (First African American on a U.S. postage stamp: Booker T. Washington, 1940, 10.)

(9) The U.S. Mint has made coins for more than 40 foreign countries. Venezuela was the first, in 1875.

(10) First commemorative coin in U.S. history: The 1892 Columbian Exposition half-dollar, marking the 400th anniversary of Christopher Columbus’s discovery of the Americas.

152341. 1892 columbian expediation coin front and back

(11) From 1873 to 1878, the U.S. Mint produced a silver dollar exclusively for trade with China.

(12) The 1792 law establishing the U.S. Mint made defacing, counterfeiting, or embezzling of coins by Mint employees punishable by death.


AND.....More Monopoly money is printed each year than real US currency!



Thank you to our Laura P for help with some of the above info!

auntstuff
May 11th, 2018, 07:58 AM
And no matter how much they print, I never seem to have quite enough.....

Nwmnteacher
May 11th, 2018, 08:51 AM
Since we're close to the border with Canada, we get quite a few Canadians shopping at our JoAnns in Grand Forks. They tell me they don't use pennies anymore because of the cost to make them. Everything gets rounded up or down. They often don't want the pennies in their change.

Jeanne

Hulamoon
May 11th, 2018, 09:58 AM
I watched a PBS program on how money is made. It was really interesting about how jeans are recycled.

'Paper and Ink. While most paper used for such items as newspapers and books is primarily made of wood pulp, the currency paper made specifically for the Bureau of Engraving and Printing (BEP) is composed of 75% cotton and 25% linen with the security thread and watermark built in.'

JCY
May 11th, 2018, 04:09 PM
Years ago when the kids still were at home, we took a tour of the Denver Mint. It was interesting. Many years ago, DH's dad had a restaurant in N. ID. Back then, a lot of folks still paid with silver dollars (real silver). He stock piled cigar boxes full of them. If only he had hung on to them instead of turning them in, they would be worth a lot of $ today.

Hulamoon
May 11th, 2018, 06:31 PM
Years ago when the kids still were at home, we took a tour of the Denver Mint. It was interesting. Many years ago, DH's dad had a restaurant in N. ID. Back then, a lot of folks still paid with silver dollars (real silver). He stock piled cigar boxes full of them. If only he had hung on to them instead of turning them in, they would be worth a lot of $ today.

Funny you mentioned this. When my aunt passed I brought back my Grandmothers pure silver tableware. I looked up the other day how much it was worth. I don't know if it's worth more as a melt down or the set? It has to be from the late thirties into the forties.