U.S. Mint Considers Production of Cost Savings Steel Coins
As part of a 2010 Congressional cost savings initiative, the U.S. Mint has been studying and testing the replacement and or substitution of the base metals in its coinage with steel.
All currently circulating coins and especially the nickel, are in the U.S. Mint’s cross hairs.
U.S. Mint December 2014 Report Indicates Rising Coin Production Costs May Spur New Coin Compositions
Under the Coin Modernization, Oversight, and Continuity Act of 2010 (the “Act”), the U.S. Mint (the “Mint”) has been tasked by Congress to “conduct research and development on alternative metallic materials for all circulating coins” and to review production methods that might result in cost savings.
The Mint produced gold coins for general circulation until 1933 when they were confiscatedand never produced again for general circulation.
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4 comments:
Why not just make them out of recycled garbage from the landfill? That way, their value will remain the same.
6:41, Great idea! And it would honor and commemorate the white house and congress at the same time.
7:02 let's be realistic here. To do what you say the material would have to be derived from the solids at the waste water treatment plant!
Do away with this small change, it won't buy anything anyway. Do like England, the price you see is the price you pay, all taxes are include, no phony crap.
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