The end of pennies and nickels as we know it

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WASHINGTON D.C. – We all find ourselves pinching pennies these days, but soon penny pinchers might find themselves without any pennies to pinch.

The latest White House budget calls for a review of U.S. currency production. Namely pennies and nickels, which both cost double their worth to produce.

There are two options here: use cheaper metals to produce the coins or just get rid of them completely.

As it stands, pennies are nearly 98% zinc and the rest is a copper coating. Ironically, nickels are mostly copper and only 25% nickel.