A penny is actually worth 2.13 cents if made before 1982, and 1.12 cents if it’s a modern penny. It costs the government 1.73 cents to make a modern penny.
A nickel has 6.99 cents worth of metal, and costs 8.34 cents to make.
So if you’ve got one of those 6 foot piggy banks at home full of pennies and nickels, you’re better off melting it down and selling it as a brick than taking it to the bank (assuming you don’t get caught).
cuz if i could spend $100 and get about 1200 canadian pennies that are worth the same 1.12 cents as an american penny and melt that down ( not illegal being non american currency) you could hypotheticaly make around $134.40… and a wopping $34.40 profit on every 100
Well, as long as we’re breaking the law, just run an extension cord over to your neighbors house and do it in the middle of the night. Probably work for a month or so until they got their first electric bill for $20000.
I always had the idea of going to Canada and converting my money (back when the rate was $1 US to $1.57 CND) to all quarters and then coming back to the US (since the US accepts Canadian quarters as the same as US) and switching em out for $$$.
That way for every US dollar of quarters I’d get a return of 50 cents. It was flawless (theoretically if I did it in low enough amounts mixed with US to not get converted over), but now the rates what $1 US - $1.10 CND?
LOL u have no idea how long my buddy did this for,but many years!He would just put the canadian in a machine that took them then hit return and get american ones back.Figure there was about 20-30 V machines at GM at the time.I guess it was good for an extra hundred amonth,but pretty damn cheap.
D