[00:02] is that by killing the penny we might have accidentally killed the nickel as well. The government famously got rid of pennies because they were losing money every time they pressed one, so it used to cost 3.69 cents in raw materials to
[00:16] make a single penny, but obviously it's only worth a penny after it was pressed. million dollars a year in pennies. But the problem that people aren't thinking more per coin when it's pressed. So we lose about 13.8 cents [music] to produce
[00:30] a single nickel worth about 5 cents. So we're losing about 9 cents just for printing it, and [music] in 2024 alone that added up to 17.7 million dollars in losses. Now that pennies are gone, every cash transaction in America is going to
[00:42] round up to the nearest nickel, and that means the demand for nickels could jump up 30 or 40%. So by killing the penny we actually might be killing the nickel to kind of backwards. There's actually a bill in Congress already known as bill
[00:55] HR1270, and it seeks to suspend both penny and nickel production. Another option is they're looking at basically re-compositioning the nickel from 75% copper to something else in order to bring costs down. But still, I don't
[01:08] anytime soon, but if costs do keep climbing it would not make that much climbing it would not make that much sense to keep making them.