Congress Considers Making Coin Money Cheaper
With pennies, nickels costing more to make than
they're worth, Congress considers metal makeover
A House subcommittee led by Rep. Luis Gutierrez (D-Ill.) convened a hearing on a proposal to change the composition of both coins. Republicans and Democrats like the concept, particularly its promise to save taxpayers $100 million a year by using cheaper metals at the U.S. Mint. If the legislation clears the House and Senate and President Bush signs it, you could be plucking steel pennies off the street before year's end. In Washington, of course, nothing is that simple.
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Posted by Editor at March 17, 2008 09:11 AM
