Steel Pennies And Steel Nickels Could Be Coming To A Pocket Near You

It's no secret that it cost more than a penny to make a penny.  But the difference is getting larger and something has to be done.

Rep. Steve Stivers R-Ohio, has introduced the Cents and Sensibility Act to require pennies to be made primarily from American steel.

A penny, which consists of 97.5% zinc and 2.5% copper, cost 2.41 cents to produce last year, up from 1.79 cents the previous year, according to the U.S. Mint. A nickel, which is 75% copper and 25% nickel, cost 11.18 cents to make, up from 9.22 cents.

The measures are similar to legislation that passed the House in 2008 but languished in the Senate, even though proponents said it could save taxpayers $100 million a year.

For more see this source article.