Pennies Nickels facts
While investigating facts about Pennies Nickels Dimes And Quarters and Pennies Nickels And Dimes, I found out little known, but curios details like:
A nickel weighs EXACTLY twice as much as a penny.
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The US Mint takes a loss on penny and nickel production, costing 1.7 and 8 cents, respectively. However, with dimes and quarters costing 3.9 and 8.95 cents to produce, the US nets nearly $400M/year because of “seigniorage”, the difference in costs to create all currency and face-values.
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In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what is dimes nickels and pennies. Here are 18 of the best facts about Pennies Nickels Dimes Barney and Pennies Nickels Dimes And Quarters Song I managed to collect.
what are pennies nickels dimes and quarters made of?
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The United States pays 1.8 cents to mint a penny, and 9.4 cents to mint a nickel. But dimes only cost 4.6 cents.
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Since 2005 it has been illegal to carry more than five dollars worth of pennies and nickels outside of the United States when traveling (due to people melting them down for copper)
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It cost about 1.7 cents for the US Mint to make a penny and about 8 cents to make a nickel.
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It costs the U.S. Mint 2.4 cents to make one penny and about 11.2 cents for each nickel.
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It costs the U.S. Mint almost twice as much to mint each penny and nickel as the coins are actually worth. Taxpayers lost $105 million in 2013 just through the coins being made.
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Nickels and Pennies cost more to make than they're worth
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It costs twice what the coins are worth to mint pennies and nickels. Taxpayers lost $105 million in 2013.
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Pennies and nickels cost more to make than they are worth.
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A nickel (5 g) weighs exactly twice as much as a penny (2.5 g).
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Since 2006 it's been illegal to melt pennies or nickels for their metal content.
Why do pennies and nickels have smooth edges?
You can easily fact check why are dimes smaller than nickels and pennies by examining the linked well-known sources.
The act that created the US $ also created its 4 divisions: the cent 1/100, mil 1/1000, dime 1/10 and eagle 10x. This is why a penny says One Cent and a dime says One Dime. But a quarter says Quarter Dollar and a nickel Five Cents. There are also gold coin Eagles $10 & Double Eagles $20.
It costs the US MINT twice as much the face value of pennies and nickels to produce them at 9.4 cents per nickel and 1.8 cents per penny - source
The U.S. Mint has spent more on making pennies and nickels than they're worth since 2006. In 2018, pennies cost 2.06 cents to make, nickels cost 7.53 cents to make. - source
Depending on the coin placed on military headstones, reflects the relationship the visitor had with the deceased: Penny, grave visited & respects were paid; Nickel, spent boot camp time together; Dime, served alongside with soldier; Quarter, present at the time when the deceased fell.
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It costs the U.S. government 1.8 cents to mint a penny and 9.4 cents to mint a nickel
