Comment: CNN Money has a photo of a penny & a blurry nickel.

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CNN Money has a photo of a penny & a blurry nickel.

Odd & Odder 1¢ & 5¢

...Cheaper Pennies & Nickels By Chris Isidore @CNNMoney February 21, 2012

Treasury is looking at changing the mix of metals used to make pennies and nickels in a cost-savings effort.
NEW YORK (CNNMoney) -- The U.S. Mint is facing a problem -- especially during these penny-pinching times. It 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.

To be precise, it cost 2.4 cents to make one penny in 2011 and about 11.2 cents for each nickel.
Given the number of coins that the mint produces -- 4.3 billion pennies and 914 million nickels last year alone, those costs add up pretty quickly: a little more than $100 million for each coin.
But even though Treasury has been studying new metals since 2010, it has yet to come up with a workable mix that would definitely be cheaper, and it has no details yet as to what metals should be used or how much it would save to do so.
- See more at: http://money.cnn.com/2012/02/15/news/economy/pennies_nickels...

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