Major update on the future of the penny and nickel scheduled for this week.
Written by: Jake Sherlock
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.
Comments
Longstrider
Level 6
Never happen. They want to gt rid of the paper dollar and make a dollar coin. People just don't want it. Try, try again!
Mike
Level 7
They will stay as is. The mint is far from going broke. Already this year there is a shortage in cents. The nickel is the work horse of coinage. There is no proposed new designs. I t will take years. If it not broke dont fix it. Everyone says it cost to much. No there gold cost to much. To many of them and they don't sell out. What a hit they took on the anniversary 2017 one hundred dollar coin still not sold out. We're g going Into May. They made one hundred thousand. Boys Town. I can go on and on. So let's put the blame where it is. Besides you cut the cent there goes jobs. But nothing is said about that or the 19 trillion in debt. Don't blame the cent or nickels on that.