Show of hands... how many of you have jars of pennies tucked away in closets and basements? Yeah, me too. Well according to an article published in Parade magazine (the Sunday Paper insert) it costs 1.5 cents to make each and every penny and nearly 9 cents to make a nickel! Does this seem crazy to anyone else? According to the article, the US Mint lost $40 million minting pennies in 2007 alone! $40 million dollars! $40,000,000! That's a lot of zeros! There is a pro-penny group called Americans for Common Cents, backed by the zinc industry (surprise, surprise pennies are 97.5% zinc) that argues against eliminating the penny from US currency or making them from less costly materials (to the tune of $100 million savings per year). Apparently, Congress has the power to regulate currency and efforts to makes these changes haven't gotten very much support. Now, as I've stated before on my blog, I am a traditionalist and I am someone who hates change (no pun intended), but $40 million dollars seems like a huge waste of money to me. I, for one, can easily see myself living without pennies. Just imagine all the extra space I'd have in my closets!