The American Penny Needs to Die
By Mark Lazar The production of the penny starts in the First US Mint that was founded in 1792, which produced these one-cent coins along with other coins, like the quarter, dime, half dime, and half cent. The pennies were made of 100% copper, but two forces were working to stop this, ensuring this would not remain: the buying price of copper, which went up, and the worth of the penny, which went down. This forced the US Mint to change the makeup of the penny to 95% zinc and 5% copper, but because of this, the worth of copper in older pennies increased over 1 cent, so people began to melt pennies for profit. If the government was thinking logically, the story of the penny would have ended here, with the government seeing that pennies weren't worth making, and being satisfied that their citizens were melting them, seeing the benefit to the economy, and we could move on to the more eff...