What Are Some Interesting Facts About the Penny?

What Are Some Interesting Facts About the Penny?

An interesting fact about the penny is that the face value of one penny is less than what it costs to produce that one penny. It costs about 1.8 cents to produce a single penny. In 2011, the U.S. Mint spent $134 million to produce $80 million in pennies.

The American penny is officially called the “one-cent piece.” Pennies are commonly believed to be made of copper, but pennies are actually 98% zinc. American nickels are primarily composed of copper. Pennies have been removed from circulation in Canada, Australia, and Sweden. Monetary transactions in these countries are rounded to the nearest five cents.