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What About Making Pennies From Aluminum?
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<p>[QUOTE="calcol, post: 8264663, member: 77639"]Currently, aluminum is going for about $3,400 per metric ton (about $1.55/lb) versus zinc at $3,850 per metric ton (about $1.75/lb) ... not enough cheaper to justify a switch. Worse, both have been rising sharply in price this year as manufacturing and construction are increasing due to ending of COVID restrictions. The only cheap metal is lead (about ½ the cost of zinc or aluminum on a weight basis), but it’s hardly suitable for coins. Lead is much denser than zinc or aluminum, so a coin of comparable weight would be a lot smaller in volume. Even with lead, it would cost more than one cent to make a penny when manufacturing, transportation, administration and other costs are added in.</p><p><br /></p><p>Plastic would have acceptance, longevity, and machine handling problems.</p><p><br /></p><p>At some point, the cent will have more than $0.01 worth of metal in it, and that will be the end of it, similar to what happened to silver coinage in the early ‘60s. Forget whether it’s legal or not to melt coins … it will happen if there is profit in it. Much easier to do with zinc than silver because zinc can be melted with a propane flame.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 8264663, member: 77639"]Currently, aluminum is going for about $3,400 per metric ton (about $1.55/lb) versus zinc at $3,850 per metric ton (about $1.75/lb) ... not enough cheaper to justify a switch. Worse, both have been rising sharply in price this year as manufacturing and construction are increasing due to ending of COVID restrictions. The only cheap metal is lead (about ½ the cost of zinc or aluminum on a weight basis), but it’s hardly suitable for coins. Lead is much denser than zinc or aluminum, so a coin of comparable weight would be a lot smaller in volume. Even with lead, it would cost more than one cent to make a penny when manufacturing, transportation, administration and other costs are added in. Plastic would have acceptance, longevity, and machine handling problems. At some point, the cent will have more than $0.01 worth of metal in it, and that will be the end of it, similar to what happened to silver coinage in the early ‘60s. Forget whether it’s legal or not to melt coins … it will happen if there is profit in it. Much easier to do with zinc than silver because zinc can be melted with a propane flame. Cal[/QUOTE]
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