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overtheedge
Member since May 2012
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U.S. Congress Seeks to Replace the Base Metal of Most American Coins With Steel

- Mike Maloney - Goldsilver

"... would save up to $433 million over 10 years. "

up to $43.3 million a year. This is less than a rounding error when you have the Fed pumping $85billion a month and an acknowledged debt of $16+trillion.

"... Not only will it cost less, but steel is an American resource that we have here at home ...)
I was under the impression that the US produced copper, zinc, silver, not so much nickel.
Copper+zinc=brass. Not so impressive as bronze, but the US doesn't produce much tin.

If steel pennies were so much cheaper to manufacture, why were they discontinued and replaced by copper after WWII?

Canada was doing away with pennies and eliminating pennies has been debated in the US as well.

These toads in Congress can't pass a budget. But, they can debate steel pennies and hold endless hearings on what happened at Benghazi.
I have met the enemy and it is us. The masses elect what they perceive as more successful versions of themselves and then wonder what went wrong.

Commented 4200 days ago

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Beginning of the headline :A measure introduced in the U.S. Congress seeks to replace the base metal of most American coins with steel. The move would slash the nickel and copper content of U.S. coins to a fraction of today’s already reduced levels. Like past changes in metal content, the bill represents a logical continuation of currency debasement and calls into question the strength of U.S. fiat currency—yet another sign of the decline of the global monetary system. Congressman Steve Stivers (R-OH) introduced the bil... Read More

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