CBS 60 Minutes News Video: Should We Make Cents? Part Two – Watch It Online

by Rhonda Kay on February 11, 2008 · 4 comments

CBS 60 Minutes News Video: Should We Make Cents?The CoinNews Saturday eNewsletter and the short post Sunday morning included information about the Sunday night 60 Minutes news segment titled, Should We Make Cents?

Morley Safer reports on how the penny and nickel are worth less than the U.S. government cost to manufacture them – the penny almost two cents and the nickel almost a dime.

The largest portion of the segment, as the 60 Minutes title suggests, revolves around the various points of view on whether the government should stop making Lincoln pennies.

Why is the manufacturing cost of the 1-cent penny and 5-cent nickel up so much? United States Mint Director Ed Moy summed it up:


“You know, coins are made out of metal. And worldwide demand for copper, nickel and zinc have dramatically increased over the last three years. That’s what’s primarily driving up the cost of making the penny and nickel."


If you read CoinNews avidly, there was nothing really "new" to learn in the news segment. However, watching a 60 Minutes news report with interviews is much more intriguing than any print medium. And there are few that can report better than members of 60 Minutes.

The producer, David Browning, and Morely Safer did an excellent job of covering the issues in an interesting and thorough manner within the short time frame. I highly recommend watching the news segment.

Watch the CBS 60 Minutes video reports online now

Fortunately, if you missed the segment Sunday night, you can now watch it online right here (as well as another embedded video showing how pennies are made).

60 Minutes video: Should We Make Cents?

60 Minutes video: How Pennies Are Made

Quick Lincoln Penny Facts:


{ 4 comments… read them below or add one }

Koichi Ito February 12, 2008 at 7:54 am

Only good reason to make penny and nickel is for selling to coin collectors and dealers. Since selling pennies and nickels to coin collectors or coin dealers will make money by sale. Only should mint sets and proof sets should have penny and nickel!

Chris Thompson February 12, 2008 at 8:38 am

I think the penny should be kept because it is historical we made it in dedication for Abraham Lincoln because he has done so much for the nation, but at the same time it should be gone because it takes more money to made it than it is actually worth. The penny had been in the economy for many years and has benefited the economy in many ways as well as not benefited it.

Second Grade Class February 29, 2008 at 1:31 pm

I think they should keep pennies because if they don’t then the things that you buy will cost more. -Isabel

You should keep the penny because Abraham Lincoln is on it. -Griffin

I agree with Griffin because Abraham Lincoln was really important to America and slaves. -Emily

We should keep pennies because if Abraham Lincoln wasn’t around then slaves would still be around and that’s bad. It would make it harder for children and teachers to think and teach because then you couldn’t promise the class you would do something with pennies. -Jakub

I think we should keep our pennies because in stores it would cost more. It wouldn’t be fair to us because it would cost less for them and more for us. -Sherry

If we didn’t have pennies, where would all that metal go? -Noah

I think we should keep pennies because then I wouldn’t be able to spend the right amount. -Brooke

griffin September 28, 2008 at 9:03 pm

I think we need for cost & confusion for everyone keep our pennies.

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