Why are aircraft carriers worth only $0.01 for scrap?

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I read in the news that after decommissioning its aircraft carriers, the US Navy sells them to a scrapping company in exchange for $0.01.

How does something that cost over $5 billion to build and contains over 50,000 tons of steel get reduced in value to a mere single cent?

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12 Answers

Anonymous 0 Comments

While a huge undertaking, there has to be money in it for the scrapper. The steel alone should be worth $10,000,000 give or take. Im sure there are miles of copper and other scrapable things. With that being said i cant imagine the time and effort to scrap it all

Anonymous 0 Comments

Last week I put an older tv out on the curb with a free sign on it. It was gone within 5 minutes. I originally paid about $200 for the tv but it was 8 years old, wasn’t a smart tv but it still worked. The fact that it’s off my hands and not taking up space in my house is a fair trade for me.