Some time again I learn a narrative a few native Lions membership that was asking for pennies for charity. They needed to boost one thing like 1 million pennies to assist a bit of league rebuild its ballpark. The membership was asking for pennies as a result of they aren’t price a lot and individuals are keen to donate them (right here). So…It obtained me considering. How a lot is one million pennies price, actually?
The reply is: one million pennies is $10,000 {dollars}.
How A lot Is A Million Pennies Value?
The mathematics 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 provides you $10,000.
So, what number of {dollars} is a million pennies? Its $10,000.
Right here Are Some Enjoyable Info About Pennies:
1) Pennies are made out of two.5% copper, with the remainder 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, one million pennies weigh about 2.5 million grams. This interprets to five,511 kilos.
5) Pennies are 1.52 millimeters thick. For those who stacked one million pennies on prime of one another, they’d be about .94 miles tall.
6) Pennies have easy edges.
7) As a result of altering commodity costs, typically the worth of the copper in US pennies is price greater than its face worth. However, don’t assume yow will discover 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 scorching water (click on right here if you wish to learn the regs your self).
8) Essentially the most helpful penny you may discover in circulation right now 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 seems to be like:
9) There are many pennies. There are about 130 billion pennies at the moment 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, which 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 the use of a conclusion, pennies are nice for speaking about compound curiosity. Dividend Energy has an important article that talks about what occurs whenever you double a penny daily 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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Received a Half Million Spare {Dollars}? Why not purchase an oil nicely?
