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How much does it cost to make money?

| April 01, 2019
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You may not have given it much thought, but it costs money to make money. In fact, the costs of the metals required to make some U.S. coins is higher than the value of the coins! George Washington and Abraham Lincoln might not approve, if they knew. Take this quiz to see what you know about the cost and value of U.S. coins.

1. How much did it cost the U.S. Mint to make a U.S. penny in 2018?

a. 0.5 cents

b. 1.25 cents

c. 2.06 cents

d. 3.0 cents

2. How much did it cost the U.S. Mint to make a U.S. nickel in 2018?

a. 1.25 cents

b. 4.97 cents

c. 6.03 cents

d. 7.53 cents

3. What makes a coin valuable to a collector?

a. Metal

b. Age

c. Rarity

d. All of the above

4. Which of these coins is most valuable to collectors?

a. 1849 Coronet Head Gold $20 Double Eagle

b. 1913 Liberty Nickel

c. 1943-D Lincoln Wheat Cent Penny

d. 1835 Classic Head Gold $5 Half Eagle

According to the Federal Reserve, the estimated lifespan of a $10 bill is 4.5 years. The estimated lifespans of a $5 and $1 bill are 5.5 years and 5.8 years, respectively. A $100 bill may last 15.5 years because it circulates less frequently.
Answers:
1. It cost 2.06 cents to make a one-cent coin that few people use. A group of citizens has been encouraging the government to retire the penny.
2. It cost 7.53 cents to make a nickel in 2018.
3. All of the above.
4. The 1849 Coronet Head Gold $20 Double Eagle is worth more than $16,600,000. It is one of the rarest U.S. coins.
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