WTF News

[classicman]

Unit Cost to Produce and Manufacture Cent
...............................................FY 2011 FY 2010
Cost of Goods Sold .................0.0197 0.0176
Sales, General & Administrative 0.0041 -
Distribution to Reserve Banks....0.0003 0.0003
Total Unit Cost .........................0.0241 0.0179

Unit Cost to Produce and Manufacture Nickel
................................................FY 2011 FY 2010
Cost of Goods Sold .................0.0938 0.0916
Sales, General & Administrative 0.0176 -
Distribution to Reserve Banks...0.0004 0.0006
Total Unit Cost .........................0.1118 0.0922

This represents the sixth year in a row that the cost to produce and distribute the cent and nickel have exceeded their face values. For the 2011 fiscal year, the two denominations were produced at a loss of $116.7 million. This amount is nearly triple than the loss of $42.6 million generated from the two denominations during the prior year.