Some time again I learn a narrative a couple of native Lions membership that was asking for pennies for charity. They wished to lift one thing like 1 million pennies to assist a bit 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 (here). So…It bought me pondering. 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 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 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 have been made out of copper from Cornwall, England. After 1850 the mint used copper ore from Michigan.
3) Per Wikipedia, pennies was a lot bigger. For instance in 1857 the penny was concerning the dimension 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. In the event you stacked one million pennies on prime of one another, they’d be about .94 miles tall.
6) Pennies have clean edges.
7) On account of altering commodity costs, generally 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 sizzling water (click here if you want to read the regs yourself).
8) Essentially the most useful penny you would possibly discover in circulation at this time 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 at the moment in circulation. In 2020 the Mint produced about 4.4 billion pennies.
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James Hendrickson
James Hendrickson is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.
