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Home 2018 January 21 The biggest wastes of money in 2017

The biggest wastes of money in 2017

PENNIES

Money wasted: $82 million-plus

A penny costs more to make than it’s worth, and that’s been the case for 12 years and counting. Still, in 2016 the U.S. Mint wasted $46 billion by issuing pennies at a production cost of 1.5 cents apiece. The nation’s annual loss is closely related to global metal prices, which reached their peak in 2011, when pennies cost 2.41 cents apiece.

Jan 21, 2018cleverfinance
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