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.