The Exchange : Major update on the future of the penny and nickel scheduled for this week.

Major update on the future of the penny and nickel scheduled for this week.

The U.S. Mint is scheduled to deliver its long-awaited report to Congress this week that is expected to address recommendations for the future of the penny and nickel. 

 

As you probably know, the cost of minting these two coins is more than double what they're worth. Given the current state of the economy and the national debt, there's not much of an appetite by the public or politicians for continuing to lose money on these denominations.

 

So what's going to be in the report? What will the Mint recommend to Congress? I tried to pry that out of Richard Peterson, the acting director at the Mint, this summer during an open forum he held at the World's Fair of Money in Philadelphia. Unfortunately, Peterson wasn't biting - he politely declined my invitation to provide ANA members in attendance with a preview of what would be in the report. 

 

So, until the report hits, all we can do is guess what will be in it. Do you have a guess? Let us know in the survey below what you think will be in the report. 

 

 

 

Written by Jake Sherlock at 00:00

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1 Comments :

5290 said...
I predict that both the cent and the 5 cent coins will be around, but with different compositions. In the perfect world, however, production of the cent should cease, and the 5 cent coin should have a bronze color. That is my 2 cents worth!
December 12, 2012 12:15

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