Aren't pennies sound money?

[Rael]

Pennies are worth more in metal than 1 cent. Does that not make them sound money since they are worth their weight in zinc/copper?

[ClayTrainor]

Pennies are worth more in metal than 1 cent. Does that not make them sound money since they are worth their weight in zinc/copper?

maybe i should stop throwing mine in the garbage?

[nate895]

The metal value is not more now, it is just the cost of producing them is higher. Pre-1982 they are worth two cents, which I guess you can consider "sound."

[RonPaulCentral]

Check out....

http://coinflation.com

[Austin]

I know the ones made before 1981 are worth about 2 cents.

[LibertyRevolution]

Before the Federal Reserve, when dollars actually had a value in gold, it took only 2000 pennies to buy 1 oz of gold.
Today it would take you 91,600 pennies to buy 1 oz of gold, even at melt value of 2 cents that is still 45,800 pennies. So are pennies sound money?

[Athan]

Yeah, pre-1981 pennies were made with actual copper and hold more intrinsic value than the new zinc pennies which now have even less zinc.

[gls]

Forget the gold standard, the government can't even maintain a copper standard.

[dannno]

You have to break the law to reclaim the value of the coin, so you might be able to call it "sound", but it certainly isn't "honest".

[Objectivist]

Pennies are worth more in metal than 1 cent. Does that not make them sound money since they are worth their weight in zinc/copper?

Nickels cost about six cents to produce and are dollars worth the paper they are printed on?

[youngbuck]

Before the Federal Reserve, when dollars actually had a value in gold, it took only 2000 pennies to buy 1 oz of gold.
Today it would take you 91,600 pennies to buy 1 oz of gold, even at melt value of 2 cents that is still 45,800 pennies. So are pennies sound money?

So how many ounces of copper per ounce gold? :D