WQOW TV: Eau Claire, WI NEWS18 News, Weather, and SportsPennies, nickels cost more than they're worth

Washington (WQOW) - A penny is worth a cent and a nickel is five cents, right? Not according to the U.S. Mint.

Turns out, it costs more to make pennies and nickels than the coins are worth. And because of that, the Obama administration this week asked Congress for permission to change the mix of metal that goes to make pennies and nickels; an expensive recipe that has remained unchanged for more than 30 years.

You want exact costs? Get this: It costs 2.4 cents to make one penny, and about 11.2 cents for each nickel.