So i got thinking last night......
Pennies- everyone has piles of them and no one likes to carry them around.
They also cost the US more to produce than their face value.
Sure they can be rolled and taken to bank, or spent as a roll, or taken to a coin sorter in town and they take 7-9% of your gross as profit for counting, then you take a ticket to the register and they pay out your total in cash bills.
In general, they are a pain in the butt to deal with but we all have a stash of them.
Also- we all like copper. Pennies are made of copper right? Hmmmm I wonder how many pennies it takes to make a pound. Got wondering if their scrap value was more than the currency value. I'm not suggesting we all go jump on scrapping pennies, thats illegal.... BUT just the thought of such a possibility bothered me. So I typed in pennies on Wikipedia and found that it only takes $1.81 worth of pennies to make a pound. If they were indeed good copper that means their scrap value is at least or close to double the currency value. Very interesting!!!!!! But come to find out, they aren't such a high percentage of copper after all. Older pennies do contain 95% copper but newer ones are 99% Zinc.
http://wiki.answers.com/Q/How_many_p...eigh_one_pound
Just something I found interesting. Obviously if there was a way to melt them down into bars and pass them off as real copper that could be a profitable business but I guess it doesn't work that way LOL
Again I was NOT suggesting we scrap currency! Just had to research my theory......
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