Should We Make Cents?
60 Minutes re-ran a piece tonight on whether the U.S. Mint should make pennies and nickels. The two coins currently cost more to produce than they’re worth.
As you might expect, bills are pending in Congress to address the country’s coinage. S. 1986 and H.R. 3330 are both called the Coinage Materials Modernization Act of 2007. They remove restrictions on the weight of, and requirements concerning the metal in, the U.S. half dollar, quarter, dime, nickel, and penny. They would also require the Secretary of the Treasury to prescribe the weight and composition of the dollar, half dollar, quarter, dime, five-cent, and one-cent coins.
Neither bill has seen any action since being referred to committee.