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Recycling Pennies

May 27th, 2008 at 06:38 pm

I read an article that talks about how to materials used to make pennies are non-renewable and are in decline (like so many of our other natural resources). One solution proposed by the article is to stop hoarding all your pennies and cash them in at the bank so they can be put back into circulation.

We save all our change and deposite it when we hav enough, but I also have this big jar with nothing but pennies. I had them all saved separately mostly out of habit. As kids, we would out all our pennies in a big glass jar. Then, when the family played cards, we used pennies to place bets and play poker with. I think it jut becamse a subconscious savings with me.

However, I am all about getting money in our savings, and about being green when I can. So, I sat and rolled up my pennies. The few I had that didn't make a full roll went back into CITB and will be deposited when I have enough. I was able to roll $2.50. Smile It went into the EF.

Also into the EF today was a $3 pincone check. Whoo-hoo! Smile

Old EF Balance: $709.03
Pinecone check: $3.00
Recycled Pennies: $2.50
--------------------------------
New EF balance: $714.53

6 Responses to “Recycling Pennies”

  1. managinglife Says:
    1211910454

    I love cashing in change!! The jingle in the coin jar makes me feel a little richer.

  2. Aleta Says:
    1211911760

    They say that it costs them $.0126 to make each one. Because of the shortage of copper there was talk about people handing in their pennies for more. They were afraid that people would start melting them down. A nickel cost them .07 to make.

  3. koppur Says:
    1211912801

    Thanks for the info Aleta. I didn't know that! Smile

  4. disneysteve Says:
    1211914575

    Pennies aren't made from copper. They are zinc with just a very thin outer coating of copper.

  5. koppur Says:
    1211915474

    LOL Thanks Disney Steve!

  6. Aleta Says:
    1211924567

    Go to: Snopes.com, then in the search section,type in Making cents. It will give you the information about making pennies. There are plenty of articles written on this. You can go on Yahoo Search or on Google. Even though it is a smaller part of copper today, you will see how much that copper cost to make the penny. Just to make it with all of the costs cost more than the penny is worth. There was an article in Yahoo this year about the copper shortage and explaining that there is copper in parts on your stove if you were to throw it away. They will not install air conditioners early either. Too many have taken the copper wiring out of the AC units.

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