Some time again I learn a narrative a few native Lions membership that was asking for pennies for charity. They wished to boost one thing like 1 million pennies to assist a little bit league rebuild its ballpark. The membership was asking for pennies as a result of they aren’t price a lot and individuals are prepared to donate them (right here). So…It bought me considering. How a lot is 1,000,000 pennies price, actually?
The reply is: 1,000,000 pennies is $10,000 {dollars}.
How A lot Is A Million Pennies Price?
The maths is fairly easy.
Per the coinage act of 1792, every US greenback is price 100 pennies (clicky). So, you merely divide 1 million by 100 to get the variety of {dollars}. Or, 1,000,000 / 100. This offers you $10,000.
So, what number of {dollars} is a million pennies? Its $10,000.
Right here Are Some Enjoyable Information About Pennies:
1) Pennies are made out of two.5% copper, with the remaining made out of Zinc.
2) Between 1828 and 1848, pennies had been made out of copper from Cornwall, England. After 1850 the mint used copper ore from Michigan.
3) Per Wikipedia, pennies was once a lot bigger. For instance in 1857 the penny was concerning the measurement of a Susan B Anthony greenback.
4) Every penny weighs about 2.5 grams. Thus, 1,000,000 pennies weigh about 2.5 million grams. This interprets to five,511 kilos.
5) Pennies are 1.52 millimeters thick. For those who stacked 1,000,000 pennies on high of one another, they’d be about .94 miles tall.
6) Pennies have clean edges.
7) As a consequence of altering commodity costs, generally the worth of the copper in US pennies is price greater than its face worth. However, don’t assume you’ll find a bunch of pure copper pennies and soften them down. Per the Federal Register, that is in opposition to treasury rules and will get you into sizzling water (click on right here if you wish to learn the regs your self).
8) Essentially the most useful penny you may discover in circulation at the moment is the 1983 double die reverse. The phrase “double die” refers to an error within the minting course of whereby the coin is struck twice. This causes the coin’s design to barely overlap. For the 1983 pennies, the error is on the again the place it says “ONE CENT”. Right here is a picture of what this appears to be like like:
9) There are many pennies. There are about 130 billion pennies presently in circulation. In 2020 the Mint produced about 4.4 billion pennies.
10) In 2025, The Trump Administration introduced it was planning on eliminating the penny. It is because the penny prices 3.7 cents to fabricate, that means the federal government looses cash on every penny it produces. Its unclear if the Administration can do that through govt order, as some authorized analysts really feel solely Congress can abolish the penny, see the PBS story on this.
By means of a conclusion, pennies are nice for speaking about compound curiosity. Dividend Energy has an incredible article that talks about what occurs if you double a penny every single day for 30 days. Trace: In impact it says that compound curiosity is so highly effective that on the finish of 30 days you’ll have greater than $5.3 million {dollars}…
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Bought a Half Million Spare {Dollars}? Why not purchase an oil nicely?
